Deposit Operations Specialist

Western State Bank

At Western State Bank, we’re committed to providing trusted financial solutions with a personal touch. Our team is dedicated to building strong relationships, supporting our communities, and helping customers reach their financial goals. We’re looking for motivated individuals who share our commitment to service, teamwork, and making a positive impact.

The Deposit Operations Specialist plays a critical role in ensuring the accuracy, compliance, and efficiency of deposit-related activities within a financial institution. This position is responsible for managing daily deposit transactions, maintaining account records, and ensuring adherence to regulatory requirements such as the Bank Secrecy Act. The specialist will collaborate closely with various banking departments to facilitate smooth operations and resolve any discrepancies or issues related to deposits. By maintaining meticulous attention to detail and applying strong knowledge of banking systems, the role supports the institution’s commitment to secure and reliable financial services. Ultimately, the Deposit Operations Specialist contributes to the overall integrity and customer satisfaction of the bank’s deposit operations.

Minimum Qualifications:

• High school diploma or equivalent; Associate’s or Bachelor’s degree in finance, business, or related field preferred.
• Minimum of 2 years experience working in deposit operations or a related banking function within a financial institution.
• Strong understanding of the Bank Secrecy Act and related regulatory compliance requirements.
• Proficiency with banking systems and software used for deposit processing and account maintenance.
• Demonstrated ability to multitask effectively in a fast-paced banking environment.

Preferred Qualifications:

• Experience as a bank teller or in frontline banking operations.
• Familiarity with wire transfer processing and related compliance procedures.
• Certification in banking operations or compliance (e.g., Certified Regulatory Compliance Manager).
• Advanced knowledge of financial institution policies and procedures.
• Strong analytical and problem-solving skills with experience in audit support.

Responsibilities:

• Process and verify daily deposit transactions, including cash, checks, and wire transfers, ensuring accuracy and compliance with internal policies and regulatory standards.
• Maintain and update customer account information, performing account maintenance tasks such as adjustments, corrections, and documentation management.
• Prepare and review Currency Transaction Reports (CTRs) and other regulatory filings in accordance with the Bank Secrecy Act requirements.
• Collaborate with bank tellers and other operational staff to resolve discrepancies, investigate unusual transactions, and support audit activities.
• Utilize banking systems to monitor transaction flows, generate reports, and support continuous improvement initiatives within deposit operations.

Skills:

The required skills such as knowledge of financial institutions, banking systems, and the Bank Secrecy Act are essential for ensuring that deposit transactions comply with regulatory standards and internal policies. Multitasking abilities enable the specialist to manage multiple deposit activities simultaneously while maintaining accuracy and efficiency. Familiarity with currency transaction reports and wire transfers supports the specialist in preparing necessary documentation and identifying suspicious activities. Account maintenance skills are used daily to update and correct customer information, ensuring data integrity across banking operations. Preferred skills like experience as a bank teller and advanced compliance knowledge enhance the specialist’s ability to collaborate effectively with frontline staff and contribute to continuous process improvements.