The Deposit Operations Officer is responsible for managing the day-to-day operations of a bank's deposit accounts, ensuring the accuracy and efficiency of transactions, maintaining compliance with banking regulations, and providing support to retail and commercial banking staff regarding deposit products and services, all while overseeing the overall smooth functioning of the deposit operations department
- Administrative/HR duties for self, i.e. complete assigned training, update/maintain HR required recordkeeping.
- Administrative/HR duties for junior staff, i.e. training, counseling, mentoring as needed for junior staff, report any team staffing issues as needed to supervisory/management level, manage team morale, etc.
- Prepare daily reconciliation of general ledger and affected accounts.
- Prepare any required management reporting as assigned.
- Manage job assignments and work schedules of assigned duties.
- Stay aware of indicators/red flags, which may necessitate reporting to BSA/FCC Dept.
- Communicate any issues encountered, operational or regulatory, to supervising management for providing status information and coordination of resolution.
- Comply with Bank’s operational and security procedures/policies and regulatory requirements are adhered to the performance of assigned duties.
- Interact with others in a professional, clear manner to communicate key points. May include, but not limited to, other management, consultants, auditors, examiners, vendors.
- Deposit Support:
- Escheat – Inactive & Dormant
- Regulation O
- Cash management, Fedline, Cashier’s Checks
- Reconciliation/Certification of Deposit Operations controlled/own accounts
- IOLTA, Bankruptcy Accounts
- W-8BEN, W-9 corrections (B notices), Back-up withholding reporting/filing
- Address Change – verification/notification
- Operations Support/Payment/EFT
- Canadian Check Collection
- Fraudulent/Error/Unauthorized Transactions Claims – Collections
- Reg E Claims Resolution
- Debit Card maintenance, including network notification of compromise
- ATM & Mobile deposit monitoring; reject, acceptance & hold decisioning
- Suspect check system monitoring; ownership of filtering/criteria/spec setting for monitoring system; and decision of pay or return on suspect
- Exception item processing
- Support C&I: monitoring/reviewing of RDC of C&I client accounts
- Deposit Servicing
- Branch GL certification review
- Branch operations exception/out of spec activity review, includes but not limited to Reg D, Chargebacks, Branch Cash Limits, etc.
- Administer IRA accounts
- Verification of Deposits
- Returned Mail Handling
- Support Treasury for Brokered/Institution Deposit Account Onboarding and Processing of CDARS & ICS accounts onboarding on vendor system
- Deposit Operations Support Advisors
- Call Center for primarily branch (Retail Banking), but also for all business units, on questions related to policies, procedures, and regulations
- Support for Retail Strategy in development of new products and services and strategy by acting as coordinator between IT and Legal
- Spec/work requests and testing for: creation and changes and deletions to Core, BPM, and Beni
- Coordination with Compliance
- Communication of changes with affected stakeholders
- Executive management reporting
- Support Deposit Services, QA teams
- ChexSystem audit coordination
The salary range for this full-time position is $23 Hourly - $27 Hourly + bonus + benefits
Salary ranges are determined based on qualifications, level, and location
Exact compensation may vary based on your skills and experience.
Bank of Hope is an equal employment opportunity employer and does not discriminate on the basis of race, color, gender, religion, age, sexual orientation, genetic information, national or ethnic origin, disability, marital status, veteran status or any other basis protected by federal, state, or local law.
Equal Opportunity EmployerThis employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Skills Required
- Knowledge of deposit products, banking regulations (Reg E, Reg D, Regulation O) and compliance/BSA/FCC red-flag awareness
- Experience preparing daily general ledger reconciliations and management reporting
- Experience supervising, training, mentoring, and managing junior staff
- Experience with deposit operations systems and vendor platforms (Core, BPM, Beni) and participating in spec/work requests and testing
- Familiarity with Fedline and cash management processes, cashier's checks
- Experience with ChexSystem audit coordination and related monitoring systems
- Experience with Remote Deposit Capture (RDC), ATM & mobile deposit monitoring and decisioning
- Knowledge/experience handling fraud, error, unauthorized transaction claims, Reg E claims resolution, and backup withholding/W-8BEN/W-9 corrections
- Deposit servicing experience: IRA administration, branch GL certification review, returned mail handling, verification of deposits
- Experience supporting treasury onboarding for brokered/institutional deposits (CDARS & ICS) and vendor system processing
- Strong communication skills to coordinate with management, Compliance, IT, Legal, auditors, and vendors
- Ability to manage operational security procedures, reporting, and escalate issues to supervising management
What We Do
Headquartered in Los Angeles, Bank of Hope has been providing financial services to the largest Korean-American community in the country for more than 37 years and is today one of the leading Asian-American banks in the United States. Bank of Hope serves a multi-ethnic population of customers through 53 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, Portland, Oregon, New York City and Northern California; commercial loan production offices in Northern California and Seattle; residential mortgage loan production offices in California; and a representative office in Seoul, Korea. With more than $19.1 billion in assets, the strength of the Bank lies in our experienced management team, focus on sound risk management and governance practices, and commitment to the communities that we serve. Building on our expertise in small business lending, C&I lending, and international trade finance, Bank of Hope is today a diversified financial institution capable of meeting more of your banking needs. Our expanded offering of commercial and consumer products and services now includes residential mortgage and warehouse lending, equipment lease financing, and foreign currency, among others. We are committed to improving the value of our services as Bankers, providing comprehensive financial solutions as Experts, and being good Neighbors that foster growth for our customers and communities. Bank of Hope Bankers. Experts. Neighbors. Member FDIC. Equal Housing Lender.
