The Deposit Services Coordinator works with the Deposit Services Manager and team to ensure regulatory compliance, quality control, and the effectiveness of our deposit accounts and electronic funds transfer processes. This requires comprehensive knowledge of deposit and EFT-related regulations, compliance, and industry standards as well as department-specific policies, processes, procedures and systems.
The Coordinator will develop internal processes that include documentation sampling, report creation, quality control measures and trend analysis to discover and mitigate organizational risk. Once concerns are discovered, the Coordinator will perform further analysis to uncover process, personnel and/or system options to recommend and implement solutions, as needed. This position will be a primary resource for compliance components of organizational projects. These responsibilities will require close collaboration with internal partners, such as Information Technology and Retail Management, to drive change. The Coordinator will also act as a training resource for deposit/EFT training delivered to the department, as well as organizationally. This will include identification of training need, design, coordination and delivery, as well as collaboration with partners in Retail and HROD.
This role is also responsible for developing and maintaining a comprehensive program of preventive and detective controls that will require regular maintenance as systems and processes change. This position will also work closely with Deposit Services Management and the Audit Department in all aspects of department audits, including fulfilling requests, coordination, drafting responses to recommendations and satisfying findings. Creation and maintenance of various risk assessments will also be necessary, as well as providing results that will contribute to enterprise risk management.
The essential duties of this position must be carried out in a manner that consistently demonstrates the core values of the Organization, in a positive manner.
1) Deposit Compliance, Audit Coordination and Controls - 60%
a. Maintain an extensive understanding of deposit and EFT compliance. This will include the monitoring of changes to regulatory requirements as well as being proactive with anticipated changes in the regulatory landscape.
b. Develop resources for maintaining deposit compliance, which may include vendors, the CU League, or contacts from other Credit Unions.
c. Develop a formal, efficient relationship with internal legal counsel to mitigate organizational risk.
d. Coordinate all departmental audits including providing sample data, request fulfillment, acting as a primary contact for auditors/examiners and analyzing preliminary recommendations. Ensure mutual understanding with auditors/examiners to avoid recommendations that are based on incorrect data or misinterpretation.
e. Work with Deposit Services Management to analyze audit recommendations. Design and implement creative solutions that use resources efficiently.
f. Participate as a resource for the annual tax reporting project to ensure compliance. Maintain an extensive understanding of tax laws/regulations as they apply to deposit accounts.
g. Collaborate with Internet Services and Information Technology to optimize technology for compliant deposit/EFT practices that minimize member effort.
h. Partner with vendors to ensure continued deposit compliance. Act as a liaison for the unclaimed property process between the vendor and Information Technology.
i. Review deposit forms and disclosures to recommend changes based on current regulations.
j. Participate as a subject matter expert for deposit system enhancements and other projects to ensure compliance.
k. Ensure separation of duties and controls within Deposit Services, including development of host security parameters relevant to each job description.
l. Review, design and implement preventive/detective controls regarding deposit account maintenance to mitigate organizational risk. This will include creation and review of maintenance reports and required follow-up with staff.
m. Design and Implement a deposit documentation/data sample review program to ensure compliance and proactively discover opportunities for improvement. Coordinate communication with Retail Staff based on trends that have been identified and recommend any technological solutions that will further mitigate risk of error.
n. Collaborate with Retail Delivery Operations to ensure compliant deposit/EFT practices at the branch level.
2) Departmental Quality Assurance and Training Coordination - 30%
a. Design and implement Quality Assurance program for Deposit Services. This will include report review for process compliance and collaboration with Management when opportunities are discovered.
b. Assist Deposit Services Management in monitoring departmental communications, including phone and email, for quality assurance and alignment with the Membership Services Team Service Philosophy.
c. Collaborate with Marketing to ensure all written and digital member notices, disclosures, and communications meet our service philosophy and branding standards; maintain a record of content in use.
d. Act as a liaison with the Member Solutions Center to maximize member service and efficiency while maintaining regulatory compliance.
e. Develop and deliver Deposit/EFT training with the assistance of subject matter experts from Deposit Services. This will include collaboration with Retail Leadership to identify training need and appropriate audience.
f. Work with HROD to review and enhance current deposit/EFT training that is delivered via onboarding programs.
g. Utilize current technology to enable Retail staff to access training efficiently and at minimum disruption to branch operations/member service.
h. Act as a systems expert regarding Deposit Services and EFT operations, to ensure successful implementation of Business Initiatives, process improvements, and other departmental and company-wide projects.
i. Ensure compliant procedures in Deposit Services including review and analysis when new procedures are created or revised.
3) Champion Engagement within Deposit Services - 10%
a. Work collaboratively and cooperatively within the team to achieve corporate and departmental goals.
b. Support the operational implementation of new products, systems and procedures.
c. Assume responsibility for personal development through training, collaboration and establishment of an Individual Development Plan (IDP).
d. Analyze, justify and recommend change in operations to enhance productivity and improve member experience.
e. Actively participate in dialogs, Solution Teams, group meetings and training.
f. Effectively manage relationships by displaying positive communication skills and awareness of your impact on others. Communicate and act in ways that build and reinforce trust.
g. Drive innovation by fostering positive debate amongst team members, creating an atmosphere where differing opinions reveal additional alternatives.
-Associates degree in finance, banking, business, or a related field required
-4-5 years Financial Institution experience is required
-2-3 years of specific experience with audits, compliance, or operational training is preferred
-In-depth knowledge of state and federal regulations related to depository retail financial services.
-Ability to critically evaluate information, identify business requirements, ensure quality assurance, and effectively influence and lead change.
-Experience in project execution with multiple initiatives.
-Excellent verbal, written communication and presentation skills.
-Excellent negotiation and multi-tasking skills.
-Demonstrated decision-making skills.
-Demonstrated ability to thoroughly research, analyze and organize data.
-Ability to use a personal computer and related software including, Word, Excel and Microsoft Outlook.
-Maintain in-depth knowledge of state and/or federal regulations that have a direct impact on Deposit Services.