Deposit Services Specialist I - Maintenance & Verification at M&T Bank

St Petersburg, Florida, United States

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Not SpecifiedCompensation

Entry Level & New GradExperience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

High school diploma or equivalent
One year of general experience
Ability to operate a keypad device 80-90% of the day
Ability to sit 90-100% of the day
Ability to perform physical tasks including reaching above shoulders, bending, twisting (20-30% of day), with maximum lift of 20-30 pounds (0-10% per day)
Strong interpersonal skills with ability to work independently and as a team player

Responsibilities

Performs requested account and customer maintenance changes to deposit accounts and customer records, including account type changes and IFMS transfer set-ups
Maintains processes to comply with IRS, OH State, and PA State regulations, such as escheat and B Notice/C Notice activities
Reviews reports to ensure account accuracy and compliance with IRS, Red Flag, and CIP regulations
Performs account and customer address maintenance changes (e.g., deposit, loan, card base) in special circumstances, maintaining compliance with Red Flag and CIP regulations
Reviews special accounts (e.g., marketing promotional club products) for joining/exiting to maintain discount codes and membership features, notifying ancillary areas
Performs changes to account level addresses and deposit system coding for returned mail
Processes deposit account documentation (e.g., signature cards, corporate resolutions, trust agreements) to ensure accuracy, completeness, and compliance with legal/regulatory guidelines
Verifies new deposit account system coding, customer level, and account level information
Updates deposit system Exception Report and CIP Exception Report for branch notification of exceptions
Indexes deposit account documentation in Optima (e.g., signature cards, resolutions, trust agreements, power of attorney) with accurate keywords
Validates deposit account documentation and retirement documentation imported into Optima and retrievable
Assists in handling branch inquiries and resolving exceptions
Assists in training branch personnel on Deposit Account and CIS issues
Trains new department employees on specific operations functions
Processes Household maintenance requests
Answers telephones, takes messages, receives/screens/distributes mail and internal correspondence
Maintains good working relationships with bank employees
Performs additional duties as required

Skills

Key technologies and capabilities for this role

Deposit Account MaintenanceCustomer Records ManagementIRS ComplianceRed Flag RegulationsCIP RegulationsEscheat ProcessingB NoticeC NoticeAccount VerificationSignature CardsCorporate ResolutionsTrust Agreements

Questions & Answers

Common questions about this position

Is this a remote position or does it require on-site work?

This is an on-site position located at 324 N. 4th Street, Indiana, PA 15701, with hours Monday - Friday 8AM-5PM and additional hours as necessary.

What are the key responsibilities of this role?

The role involves performing account and customer maintenance changes, ensuring compliance with IRS, state regulations, Red Flag, and CIP, processing deposit account documentation, verifying system coding, and handling branch inquiries.

What skills are needed for the Deposit Services Specialist role?

Strong attention to detail for compliance and accuracy, interpersonal skills for working with bank employees and branches, and the ability to work independently while handling regulatory processes are essential.

What is the work schedule for this position?

The schedule is Monday through Friday from 8AM to 5PM, with additional hours as necessary to meet department objectives.

What makes a strong candidate for this Deposit Services Specialist position?

Candidates with experience in banking operations, strong knowledge of regulatory compliance like IRS and CIP rules, attention to detail in documentation processing, and excellent interpersonal skills for training and branch support will stand out.

M&T Bank

Full-service banking for individuals and businesses

About M&T Bank

M&T Bank provides a variety of banking services to individuals, small businesses, and larger companies. Their offerings include mortgage assistance, personal and business checking accounts, and mobile banking options. The bank primarily operates in the Northeastern and Mid-Atlantic regions of the United States, emphasizing community engagement and a focus on customer service. M&T Bank's business model is based on traditional banking practices, such as loans, deposits, and investment products, and it generates revenue through interest income and service fees. A key aspect that sets M&T Bank apart from its competitors is its commitment to community involvement, which includes allowing employees to volunteer and supporting local organizations. The recent merger with United Bank, N.A. has further expanded their services and market presence.

Buffalo, New YorkHeadquarters

1993Year Founded

IPOCompany Stage

Financial ServicesIndustries

10,001+Employees

Risks

Competition from fintechs could erode M&T Bank's market share among tech-savvy customers.

Integration challenges from the United Bank merger may disrupt operations.

Decreased prime rate could reduce interest income, impacting profitability.

Differentiation

M&T Bank emphasizes community engagement through its charitable foundation and volunteer programs.

The bank offers a wide range of traditional and digital banking services.

Recent merger with United Bank, N.A. expands M&T's market reach and service offerings.

Upsides

M&T Bank's $1.5 billion senior notes offering strengthens its financial position.

Decreased prime rate may attract more borrowers, increasing loan volume.

Shannon Lazare's appointment as New Jersey Regional President enhances local community engagement.

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