Job Description

Merchants Bank, Winona, has an opening for a Deposit Operations Specialist. The hours for this position will generally be Monday through Friday between 8am – 5pm.

Duties include a wide variety of tasks and projects in the deposit operations area including working with unposted items, exceptions, stop payments, ACH processing, processing fraud disputes, balancing GL’s, and working with tax forms and IRA statements. Also will work with customer maintenance and research and provide excellent customer service to both our external and internal customers.

2-5 years of banking experience required. Associate’s degree in business or related field preferred. Must have excellent communication and customer service skills and a calm, friendly, and helpful demeanor. Strong attention to detail, problem solving and organizational skills required.

Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

Please click on Apply Now or apply in person at Merchants Bank, Winona (102 E 3rd Street). Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

This role is responsible for ensuring the accurate and efficient handling of deposit operations tasks, ensuring compliance with banking regulations and providing operational support to both internal teams and external customers. The individual must be able to adjust quickly to changes in priority and have the desire to continue to learn. The role will have a set of primary essential duties assigned to them, along with set of back-up essential duties to provide coverage to the team. The individual in this role should have a calm, friendly, helpful demeanor as well as good listening skills.

Essential Duties and Responsibilities:
• Exception Handling: Review and processing non posted items, NSF, stop payments and Fed Adjustments.
• ACH Processing: Daily processing for Electronic Payments and NOCs (notification of change)
• Account Maintenance and Research: account maintenance, posting, corrections, white sheets, and research
• Fraud Disputes and Regulatory Claims: processing fraud disputes and Reg E claims
• Recon and Reporting: Ensuring accuracy across systems. Includes balancing DDA, savings and internal accounts to the GL.
• Legal, Compliance and Regulatory: Process levies, garnishments and subpoenas, assist with YE notices and tax forms as well as IRA statements. Ensure all activities adhere to internal policies and procedures, as well as state and federal banking laws and regulations (e.g., BSA/AML, OFAC, Reg E, Reg D).
• Documentation and Procedure Management -Maintaining Operational Consistency: Create, revise and document departmental procedures and best practices. Maintain accurate digital records
• Customer and Branch Support: Answer calls and assist branches / customers with deposit support related inquiries.

Additional Expectations:
• May participate in new system implementation projects, including testing and error resolution.
• Maintain a neat and orderly work area and adhere to customer privacy requirements.
• Regular and dependable attendance is an essential function of the job.
• Provide exceptional customer experience when assisting internal and external customers.
• Employee may be asked to perform other duties as required by business needs.
• Employee will be expected to complete compliance and product knowledge assignments in a timely manner.

Working Conditions:
Inside working environment, low machine noise with no direct customer contact: however, will have extensive telephone and email contact with customers. No environmental hazards. Little or no discomfort caused by environmental factors as work will be performed sitting at a desk.

Mental Demand / Skill Requirements:
Must be able to remain calm in stressful situations. Above average communication and customer service skills are required. Must have a high comfort level communicating by telephone and email. Strong attention to detail, problem solving skills, time management and organizational skills required. 2-5 years of banking experience required. Associate’s degree in business or related field preferred.

Relationships:
Will have extensive contact with employees in all departments. The employee will be expected to contribute to a positive working environment and have excellent communication skills. Responsible to the Deposit Operations Manager for the fulfillment of functions, responsibilities, and authority, and for their proper interpretation.