Deposit Operations Specialist - Fraud

Position Summary:

The Deposit Operations Specialist - Fraud is responsible for supporting the day-to-day operational functions related to deposit accounts, including account maintenance, transaction processing, exception handling, and regulatory compliance. This role ensures the accuracy, efficiency, and integrity of deposit-related activities and provides back-office support to branches, customer service teams, and other internal departments.

Essential Duties and Responsibilities:

• Process and review deposit account transactions, including ACH, wire transfers, stop payments, and check adjustments.
• Maintain customer deposit accounts, including changes to ownership, account status, and account services.
• Reconcile deposit account activity and research discrepancies or exceptions as needed.
• Support branch staff and customer service teams with operational inquiries and troubleshooting.
• Monitor and process returned items, overdrafts, and non-sufficient funds (NSF).
• Review and process legal documents such as levies, garnishments, and subpoenas.
• Ensure compliance with internal policies and regulatory requirements (e.g., Reg CC, BSA, OFAC).
• Participate in the implementation and testing of deposit-related systems, software updates, and process improvements.
• Maintain accurate records and documentation in accordance with audit and regulatory guidelines.
• Assist with reporting, quality control, and audits related to deposit operations.

Fraud-Specific Responsibilities:

• Responsible for processing incoming fraud cases.
• Work closely with internal departments and fraud teams at other financial institutions.
• Research and analyze potentially fraudulent activity related to customer accounts.
• Contact account officers to assist with verification of suspicious or questionable items.
• Respond to emails, phone calls, and voicemails from branches and account officers regarding fraud-related inquiries.
• Perform other related duties as assigned.

Knowledge/Skills/Abilities:

• Strong understanding of deposit products and banking regulations, including Regulation E, CC, D, and DD.
• Knowledge of back-office deposit operations, including ACH, wire processing, and item processing.
• Proficiency in Microsoft Office applications, especially Excel and Outlook.
• Experience with core banking systems (e.g., Jack Henry, Fiserv, FIS) is highly desirable.
• Excellent attention to detail and accuracy.
• Ability to prioritize tasks and work independently in a high-volume environment.
• Commitment to maintaining confidentiality and adhering to compliance standards.
• Exposure to or a basic understanding of fraud claims or banking loss prevention.
• Previous experience conducting customer account analysis or fraud-related research and investigations.
• Strong analytical skills with sound judgment in decision-making.
• Strong verbal and written communication skills.

Education/Experience:

• High school diploma or GED required; Associate’s or Bachelor’s degree in Business, Accounting, or related field preferred.
• 3–5 years of experience in banking, with a strong preference for experience in deposit operations and fraud detection and prevention.
• Familiarity with deposit account documentation, banking systems, and regulatory guidelines is essential.

Physical Requirements:

• Ability to sit for extended periods while using a computer and other standard office equipment.
• Manual dexterity to operate keyboard, mouse, phone, and other office tools.
• Occasional lifting of files or boxes up to 20 pounds.
• Must be able to communicate effectively in person, via phone, and through electronic correspondence.