Deposit Operations - Consumer Deposits Specialist

Chelsea, MA 02150, USA Req #131
Wednesday, May 5, 2021



      The objective of the Consumer Deposits Specialist position includes daily processing of transactions, research and quality control, reporting and balancing, troubleshooting inquiries from employees and community partners, as well as participation in other projects and initiatives assigned by the Department Manager.




Performs a variety of duties to support Consumer Deposits initiatives including:

  • Process daily incoming or outgoing wire transfers through WireXchange or Fedwire, ensuring funds are posted in accordance with corporate policy
  • Maintain IRA files, documents, reports, annual notices, transaction requests, IRS reprinting, etc.
  • Maintain support for SEGs, community partners, and Business Development including account opening, processing of incoming payrolls while ensuring posting standards, and providing support for members and business partners
  • Process daily ACH files including exceptions, originations, prenotes, returns, NOCs, recurring payments
  • Process share drafts, returned deposited items in accordance with Reg CC and Check 21 regulations, including reversals, redeposit, and reconcilements
  • Manage Lockbox and online loan payment processes including SWIM creation, posting, exception processing and balancing. 
  • Manage Abandoned Property, outgoing calls, mailed notifications and government reporting
  • Process daily work including file maintenance from front line staff and direct from members, death notifications, foreign check processing, account verifications, stop payments, ACH disputes in accordance with Reg E
  • Handle requests direct from members via various channels including mail, secure email, phone etc. within established standards
  • Resolve internal requests via help desks, research requests, and phone queue within established standards
  • Prepares general ledger account reconciliations for several suspense accounts and research and resolve any outstanding items.
  • Review and process daily reports, exceptions and out of balance conditions related to WireXchange, FED, Coastal, ACH, Share drafts, lockbox, SWIM files, payroll posting and other payment means. 
  • Keep informed of regulation and compliance which may govern these tasks such as regulations CC, D, E, Check 21, NACHA rules and regulations. 
  • Keep informed with third party updates, issues, communication and revise standard operating procedures when needed.





Ability to define problems and examine the potential causes regarding responsibilities.  Ability to analyze and identify problems and use sound reasoning to implement a course of action. Well versed in third party capabilities and understanding of support. Team member performs assignments independently to conclusion; unusual problems which may require exceptions to procedures or processes are referred to the supervisor.




  • Education and Experience
    • High school diploma or equivalent required.
    • A minimum of one year credit union/banking operational experience or the equivalent of detailed Credit Union processing knowledge.


  • Skills/Knowledge/Certifications
    • Thorough knowledge of Credit Union functionality and department procedures.
    • Strong analytical, organizational and problem solving skills.
    • Knowledge of how the EFT system functions, including the rules and regulations governing ACH posting, NACHA regulations.
    • Strong knowledge of ATM and Debit Card adjustment protocols.
    • Knowledge of all compliance and regulations related to departmental duties.
    • Must be well organized and have the ability to prioritize tasks.
    • Basic accounting skills preferred.
    • Strong attention to detail


  • Working Conditions  
    • General office environment.

Other details

  • Pay Type Hourly
  • Chelsea, MA 02150, USA