Deposit Operations Administrator at CFCU Community Credit Union in ithaca, New York

Job Description:

CFCU Community Credit Union (CFCU) is seeking a detail-oriented Deposit Operations Administrator to join the department. The successful candidate will be responsible for assisting with the direction and administration of back office deposit operations including but not limited to: Individual Retirement Arrangement (IRA) Accounts, Coverdell Education Savings Accounts (ESAs), death claim processing, and unclaimed property reporting/escheatment.

Responsibilities:

• Quality reviews and approves all IRA/ESA activities performed by frontline staff.

• Administers Required Minimum Distribution (RMD) payments, Fair Market Value (FMV) adjustments, transfers and rollovers, conversions, recharacterizations, incoming beneficiary account transfers, and death claims.

• Coordinates the verification and transmission of IRA and ESA tax reporting files to the IRS by the communicated deadlines and complies with all transmission requirements.

• Verifies and approves escheatment due diligence letters and unclaimed property newspaper publications.

• Analyzes dormant accounts for possible exemptions pursuant to state laws.

• Coordinates the filing of annual unclaimed property reporting with the Credit Union’s third-party service provider.

• Prepares and presents product knowledge training sessions to other departments and branches in collaboration with the Learning and Development department.  

• Serves as the primary or secondary contact for internal and external audits and exams.

• Monitors back office deposit operations and identifies opportunities to streamline process efficiencies and maximize product effectiveness.

• Oversees deposit operations in the absence of the AVP Support Services including resolving member service escalations, championing a culture of interdepartmental collaboration, and assisting with time-sensitive tasks, strategic projects, and specialized research assignments.

• Performs other miscellaneous functions to expedite the flow of work within the department including assisting with electronic payments, item processing, and serving as the primary backup for the Deceased Accounts Specialist.

Desired Skills and Experience:

• Ideal candidate will have high school or equivalent education.

• At least two (2) years back office deposit operations experience at a financial institution.  

• Must currently maintain the Certified IRA Specialist II (CIS II), Certified IRA Professional (CIP), or Certified IRA Services Professional (CISP) designation or be required to obtain within one (1) year of hire.

• Previous IRA and/or unclaimed property experience strongly preferred.

• Experience with Fiserv DNA is a plus.

• Excellent verbal and written communication skills.

• Position requires attentiveness to detail as well as exceptional problem-solving and critical thinking skills.

Equal Employment Opportunity:

Equal employment opportunity has been and will continue to be a basic principle at the Credit Union. CFCU provides equal employment opportunities, without discrimination because of race, color, religion, creed, sex, sexual orientation, gender identity or expression, pregnancy, marital status, age, national origin, citizenship, handicap or disability, veteran or military status, political beliefs, victim of domestic violence status, familial status, or predisposing genetic characteristics or status, or any other status protected by federal, state, local or other law. This policy includes, but is not limited to recruitment, hiring, compensation, training, and apprenticeship, promotion, upgrading, demotion, downgrading, transfer, lay-off and termination, and all other terms and conditions of employment.