Job at a glance
Deposit Operations Specialist At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards).
Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements. Starting Pay: $18.50-$21.00/hour Position Summary This position falls within Deposit Operations, the operational unit primarily responsible for: CIF & document management CIF, account & debit card maintenance Safe deposit management Exception item processing, including the handling of unposted items, NSF items, stops and overdrafts Check adjustments & chargebacks Fraud monitoring Debit card Debit cards disputes and compromised cards Mobile deposits Reg D monitoring Year end processing Foxtrot management and ad hoc reports Audits CD/IRA management Sweep Repurchase accounts Primary Accountabilities Verifies maintenance transactions as defined by procedure.
Reviews checking, savings, money market, NOW, safe deposit, debit card and CD/Time Deposit standard reports and processes. Inputs corrections for minor issues/discrepancies as discovered. Escalates questionable transactions, unresolved, and recurring issues to management in a clear and timely manner. Validates stop payments added to the system to ensure they are complete; Corrects input as needed.
Able to handle the daily processing and balancing of exception items which includes both paid and returned NSF items, unposted items and check adjustments. Able to handle the daily processing of debit card fraud claims. Has a good understanding of Reg E and meets all timeframes as outlined within this regulation. Review daily fraud alerts for potential fraud patterns and trends. Processes mobile deposit corrections and meets timelines for file submission.
Processes general ledger and account level monetary transactions as required. Researches and resolves issues that surface on customer deposit accounts. Observes all security, privacy and compliance requirements. Able to support the sweep repurchase product on a daily basis and confirms customer notifications are precise and timely. Monitors excessive transaction activity (Reg D) on deposit accounts and handles violations according to procedure.
Creates appropriate customer communications and performs maintenance to accounts as required. Manages year-end processing and reporting which includes escheatment, B notices and tax corrections. Able to develop, publish and run foxtrot scripts as needed. Generates ad hoc reports upon request. Manage requests for audit documentation as needed. Possess good knowledge of CD/IRA core module. Quality assurance and mailing of CD/IRA interest and distribution checks.
Complete returned mail processing. Processing of CSI Miami repurchase agreement accounts and e-notice generation to customers for securities allocation. Scan foreign checks received from branches to TIB for collection processing. Maintains a thorough understanding of the banks deposit products, deposit transactions codes and other appropriate deposit settings and related functionality. Manages Lawyer Trust Fund reporting.
Validates IRA distributions to ensure accurate customer reporting. Assists with conversion process as needed. Assists with the resolution of system/processing issues. Works independently and requires minimum manager oversight. Considered a subject matter expert on one or more bank products. The role requires occasional travel fo