NB844-Deposit Operations Associate


: $31,610.00 - $40,300.00 /year *

Employment Type

: Full-Time


: Financial Services - Banking/Investment/Finance

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Northfield Bank is a full service bank with 40 branch locations throughout New Jersey; and Staten Island and Brooklyn, New York. With a history dating back to 1887, our growth continues through expansion of our presence in local communities and in our Product and Service offerings. Over 300 employees with diverse backgrounds and cultures have come together to make Northfield Bank what it is today. The Bank believes in providing all employees with the opportunity to reach their career potential and encourages advancement within the organization. For more information, please visit www.eNorthfield.com

Job Title: Deposit Operations Associate

Job Status: Full Time

Job Location: Woodbridge, New Jersey

Job Summary:

Ensure all deposit IRA accounts are setup, processed and maintained accurately in accordance with Federal Regulations/Guidelines and Bank policies and procedures. Ensure all required IRS reporting is completed accurately and timely while meeting regulatory compliance standards. Perform all processes related to Abandoned Property, Regulation D and Overdraft Edge Fee monitoring.

Responsibilities Include:

Monitor accounts and perform necessary actions regarding Abandoned Property, Regulation D and Overdraft Edge Fee Monitoring. Review reports, perform account maintenance, track actions and send customer notifications in accordance with relevant regulations.

Monitor, track and perform account maintenance for B notices and W-9 request sent to customers.

Perform account maintenance for notifications to begin or stop back up withholding to customers.

Handle all aspects of IRAs:

Review Daily Retirement Reporting Module (RRM), WebDirector, and Business Analytics report for IRA activity to ensure that correct transaction codes are used and all documentation is complete and accurate. Advice and follow up with branch staff for missing documentation and errors.

Perform maintenance on decedent IRA's for appropriate distributions and issue 1099R tax forms for beneficiaries. Enter and verify date in Navigator and RRM.

Review and maintain files for customers reaching age thresholds and set up IRA customers for automatic distributions.

Process payment of distributions and interest to customers.

Complete and review End of Year documentation and reports. Process 1099INT, 1099R, and 5498 forms and/or corrections.

Monitor, notify customers, close and report delinquent accounts with Overdraft Edge.

Review WebDirector for accounts closed at a branch to report to Chex Systems, maintain files for all accounts reported. Provide timely responses to inquiries from customers and Chex Systems.

Submit supply order for Branch Operations.

Perform as the originator or reviewer of outgoing wire transfers, as well as the processor of incoming wire transfers as necessary.

Primary back up for the Senior ACH Clerk and Senior Debit Card Associate. Also back up to Wire Transfer Associate as necessary.

Compliance with all relevant Bank policies and procedures.

May require occasional travel for business meetings or training.

Job Requirements:

High School Diploma or equivalent required

1-3 years general banking experience required

1-3 years IRA experience required

1-3 years Fiserv system experience preferred

1-3 years of system use with WebDirector and Chex System preferred

Strong computer skills, including Microsoft Window & Office, the internet and browser-based application

Strong verbal and written communication skills required

Strong analytical skills required

**Northfield Bank is an Equal Employment Opportunity Employer M/F/Disability/Protected Veteran**

PandoLogic. Category: Logistics, Keywords: Operations Specialist
Associated topics: branch, branch teller, client, customer, customer service, customer service representative, deposit, saving, service representative, teller * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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