Deposit Operations Business Analyst

First Federal Bank

Lake City, FL, USA

Published: 6/14/2022

Full Time

Job Description

At First Federal Bank, core values speak to the heart of an organization and are the essence of a company’s identity. Everything we do is centered around our community, customer service, our stability, and being trustworthy. These values support our mission and vision, shape our culture, and provide a foundation for the future.

Offering a dynamic benefit package that includes but is not limited to:

Four Medical Plan Offerings to choose from
Employer HSA Contributions (Coverage/Plan exclusions)
Employer Provided Life Insurance Policy
Annual Health Incentive
Annual Wellness Reimbursement
Tuition Reimbursement program
Generous Match 401k Retirement Plan
Paid Sick Leave
Paid Vacation Leave
11 Paid Holidays Based on the Federal Reserve Calendar

If you are ready to take on a challenging and rewarding role; we invite you to apply for this exciting opportunity.

Job Purpose:

The Business Analyst – Deposit Operations serves as a liaison between Deposit Operations, Information Technology, Compliance, and business units to support system enhancements, operational efficiency, regulatory compliance, and product development. This role analyzes business processes, identifies improvement opportunities, supports system implementations, and ensures operational workflows align with regulatory requirements and strategic objectives.

The position plays a key role in data analysis, reporting, documentation, vendor coordination, and project support to enhance deposit-related products and services including ACH, wires, debit/credit cards, online account services, and cash management solutions.

Essential Duties & Responsibilities:

Coordinate and support Deposit Operations projects, including system upgrades, product implementations, workflow redesigns, and process automation initiatives.
Analyze deposit operations workflows to identify process improvement opportunities and operational efficiencies.
Gather, document, and validate business requirements for system enhancements and new product implementations.
Develop process maps, procedures, and functional specifications. Support training initiatives by documenting system changes and process updates.
Recommend solutions that align operational needs with regulatory requirements and risk controls.
Monitor and recommend workflow improvements to strengthen internal controls and increase productivity.
Serve as subject matter liaison between Deposit Operations and other business units for processes, procedures and regulatory matters..
Coordinate and perform user acceptance testing (UAT) for system changes and process enhancements.
Assist with implementation of new deposit products, services, and technologies.
Coordinate and support internal and external audits related to Deposit Operations including preparation, responses and remediation.
Assist in managing internal FDICIA reviews, including documentation of controls, testing support, and remediation tracking.
Coordinate with appropriate departments to ensure business processes comply with applicable banking regulations (e.g., ACH, Reg CC, BSA/AML, UDAAP).
Support internal controls by reviewing procedures and identifying risk gaps.
Maintain and enhance operational controls to ensure compliance with regulatory requirements and Bank policies.
Ensure policies and procedures are current, accurate, and aligned with regulatory and operational requirements.
Produce operational, compliance, and management reports.
Analyze deposit product usage, transaction trends, fee income, and customer behavior.
Support reconciliation processes and identify data discrepancies.
Develop dashboards or metrics to monitor performance and risk indicators.
Partner with Deposit Operations, Retail, Treasury/Cash Management, Compliance, and Finance teams.
Assist with customer or internal escalations requiring research and analysis.
Participate in strategic initiatives to improve customer experience and operational scalability.
Provides the best service to our customers with innovative and creative solutions.

Qualifications and Requirements:

Education & Experience

Bachelor’s degree in Finance, Business Administration, Accounting, or related field preferred.
5+ years of banking experience, preferably in Deposit Operations, Treasury Management, or Retail Operations.
Experience with core banking systems and deposit-related platforms required.
Prior business analysis or project support experience preferred.
Experience with data analysis and reporting tools is a plus.

Knowledge

Strong understanding of deposit operations including ACH, wires, account maintenance, debit/credit cards, and reconciliations.
Familiarity with banking regulations impacting deposit products.
Knowledge of internal controls and risk management practices.
Basic understanding of accounting and financial reporting principles.

Skills & Abilities

Strong analytical and critical thinking skills.
Ability to gather and translate business requirements into functional documentation.
Proficiency in Microsoft Excel (advanced functions preferred), Word, and reporting tools.
Strong written and verbal communication skills.
Project coordination and time management skills.
Manage multiple projects and priorities in a deadline-driven environment.
Work independently and collaboratively across departments.
Ability to interpret data and make actionable recommendations.
High attention to detail and strong organizational skills.

Physical & Work Requirements:

Extended periods of sitting and computer work may be required.
Ability to perform additional duties as assigned.

Bilingual candidates encouraged to apply

Equal Opportunity Employer / Vet / Disability

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