Operations Processor III- Deposit Operations in Lynn, MA at Eastern

Date Posted: 7/29/2020

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Lynn, MA
  • Job Type:
  • Experience:
    3 to 5 years
  • Date Posted:
    7/29/2020

Job Description

When you join Eastern Bank, you join the largest and oldest mutual bank in the country. We pride ourselves in having knowledgeable and experienced professionals that can provide the expertise, personal attention and service our customers deserve.

As the fourth-largest full-service commercial bank in Greater Boston, we are able to offer you unique opportunities for career growth throughout the organization, as well as a competitive compensation and benefits program.

As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us.

The Operations Processor III will be responsible for a variety of centralized processing and support of deposit accounts. This is including Certificates of Deposit (CDs), Retirement Accounts, and exception item processing.  Additionally, they will be responsible for operational processing of cash management account analysis activities.

Major Responsibilities:

  •         Perform functions within the operations division including, but not limited to:

o   Foreign check collection adjustments

o   Outgoing returns (Overdrafts, Stop Payments, etc.) for image file creation to be returned to the bank of first deposit within regulatory defined deadlines

o    Research and processing of returned deposited items

o   Transaction correction and return of un-posted deposit transactions 

o   Perform a variety of system maintenance to deposit accounts and customer records

  • Monetary transaction processing Account Analysis operational support:
    • Perform setup of new and maintenance of existing, Account Analysis relationships/accounts
    • Identify and establish appropriate parameters required for proper service charging
    • Identify and resolve exceptions. Communicate with relationship managers for account decisions including follow-up for completion
  • Resolve customer service issues for both internal and external customers
  • Provide time deposit/retirement account support, which includes but are not limited to:
    • Process IRA transfer and rollover requests to and from other financial institutions according to customer instructions and IRS regulations
    • Perform certificate of deposit transactions and account maintenance
    • Perform quality control review of retirement transactions to ensure accuracy in IRS reporting
    • Reconcile and remit customer tax withholding to state and federal treasuries in compliance with IRS regulations
  • Support with the processing and investigation of debit card claims ensuring compliance with Regulation E
  • Understand and be able to cross departments in electronic services words, particularly in card claims. 

Problem Solving and Decision Making:

  • Independent decision making for minor and/or mid-level issues, ability to identify potential solutions for more complex or uncommon issues for approval recommendation
  • A strong understanding of IRS rules with respect to retirement accounts is needed to make decisions on Retirement account related activities
  • Firm understanding of various state and federal regulations associated with the various functions performed in Deposit Operations
  • Proactively involve resources from other departments and various bank systems to solve issues

Job Requirements

Skill and Knowledge:

  • Possess the ability to perform in a fast-paced, high-demand environment while balancing multiple priorities
  • Excellent written, verbal and interpersonal communication skills
  • Ability to work effectively in a team environment across all organizational levels, demonstrating flexibility, collaboration, and adaptability
  • Capability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment


Education and Experience

  • Associates Degree or High School Graduate with demonstrated experience
  • A minimum 3 - 5 years banking experience
  • Proficient in Microsoft Office (Word, Excel, and Outlook)
  • Experience in the duties listed above in the Major Responsibilities