Operations Analyst

Company: Local Government Federal Credit Union
Location: Raleigh
Posted on: January 26, 2023

Job Description:

The Operations Analyst will act as the internal point of contact for any questions relating to operations including complex issues that fall outside of the normal daily operations tasks and work with various systems, vendors and departments to provide solutions. The individual in this role is responsible for maintaining compliance with all federal regulations, managing appropriate member notifications and government reporting as required by law. Provides service and support to Credit Union deposit service programs/initiatives and/or products to stimulate new growth and enhance member relationships. Normal Day-to-Day Work

• Processes all daily and advanced Operations functions, including ACH transactions, item processing, returned deposited items, review remote deposit capture (RDC), wire transfers, negative accounts, stop payments, unauthorized/disputed transactions, supporting notices and statements.
• Analyzes daily deposit functions, which includes but is not limited to member record and deposit account maintenance, monetary transfers, official check reconcilement, check fraud suspect review and document scanning and indexing and escalates items as needed to internal departments.
• Processes IRA contributions and distributions required minimum distributions and tax reporting; tax attachments (e.g., garnishments, levies); subpoenas; member account fraud; and deceased member processes including reclamations, review of approval of probate documentation (e.g., Letters of Testamentary, Letters of Administration, Spousal Allowance) and the appropriate distribution and closure of accounts.
• Reviews and verifies data and/or documents daily to ensure accuracy, compliance and verify reconciliation.
• Performs financial and/or regulatory report review and follow-up in relation to Reg. E, Reg. CC and Reg. D excessive transaction monitoring, and other regulatory/compliance functions. Escalates items of concern as needed to internal departments including analysis of a variety of monthly statistics for large ACH origination members and provides volume and value trends and reports.
• Handles complex issues and possesses current knowledge of specific financial products and regulations. Works with Operations team to research, analyze, recommend, and implement deposit initiatives. Implements new products and services.
• Researches and analyzes relationship reward programs and makes recommendations on fee structures to help determine the best program for our members.
• Provides recommendations for service improvements based on analyzed data and internal and external member feedback. Communicates changes, enhancements and modifications through effective documentation.
• Reviews reports from core system to identify, analyze and track ACH return activity (both originated and received) to identify high risk originators and out of pattern activity. Notifies Risk and Compliance of any findings immediately so appropriate action can be taken.
• Verifies incoming and outgoing wire transfers, to ensure compliance requirements set by the Bank Secrecy Act, including OFAC rules and regulations are met. Escalates items of concern to management and other internal departments as needed. Job QualificationsHere are a few skills you MUST have to be considered for this position.
• Minimum 4 to 6 years Financial Institution experience.
• Minimum 1 to 3 years' experience in operations and/or deposit servicing.
• Knowledge of financial deposit products and services.
• Must be willing to work flexible work hours, including some evenings.
• Ability to function in a Consumer business office environment and utilize standard office equipment including but not limited to: PC, copier, telephone, etc.
• Ability to lift a minimum of 25 lbs. (file boxes, computer printer).
• Travel required on occasion. Here are qualifications we'd LIKE you to have to make you more suited for this position.
• Four-year degree from accredited college/university preferred.
• AAP and/or NCP Certification preferred.About the LGFCU CultureIf you are working here, or considering working here, you should know a little something about the LGFCU culture. We are a workplace that highly values the contributions of a diverse group of people. We believe if we put our heads and hands together, we can accomplish amazing feats for our members. To this end, we recruit bright, energetic and talented people to be members of our team. In return, we offer a dynamic work place that presents opportunities for advancement and learning new skills. We really believe that when our employees succeed, members win.If you have questions about this position description, please feel welcome to ask. You can reach our HR at:LGFCU Human Resources 3600 Wake Forest RdRaleigh, NC 27609careers@lgfcu.orgPI202091711

Keywords: Local Government Federal Credit Union, Raleigh , Operations Analyst, Professions , Raleigh, North Carolina