First Federal Bank of Wisconsin · 16 hours ago
Deposit Operations Manager
Milwaukee,WI,US
Full-time
Onsite
Senior Level
5+ years expFirst Federal Bank of Wisconsin is seeking a Deposit Operations Manager to lead the Deposit Operations team while ensuring compliance with Anti-Money Laundering regulations. The role involves overseeing daily operations, managing regulatory compliance, and fostering a culture of teamwork and operational excellence.
BankingCommercialCustomer Service
Responsibilities
Manage daily processing for DDA, savings/MMDA, CDs, ACH, wires, debit cards, check clearing/returns, stop payments, chargebacks, and statements
Ensure posting, balancing, reconciliations, and timely exception resolution (NSFs, stop pays, returns, disputes, negative balances, dormant/Escheat)
Own Reg CC holds, overdraft program processing, non-sufficient fund handling, and fee assessments consistent with policy
Provide tier-2 support for branches and customer service teams on deposit ops questions and complex situations
Establish and enforce branch control standards in procedures: Dual control protocols (cash vault, teller drawers, safe deposit access, negotiables)
Cash management (vault limits, shipment orders, surprise cash counts, teller audits)
End-of-day balancing, GL entries, and daily reconciliations (cash, cash letters, transit accounts, suspense)
Access controls, user entitlement reviews, and segregation of duties
Monitor and remediate operational losses; track trends (kiting indicators, return items, card disputes, ACH reversals)
Maintain deposit operations policies and procedures aligned to Reg E, Reg CC, Reg D, EFTA, UDAAP, privacy, and state escheatment requirements
Oversee Deposit Administration, responsible for rate changes, product development and recommendations for enhancements. Create/update all required deposit related disclosures for approval by Compliance Officer
Ensure that the team partners with Compliance and BSA/AML Analyst on CIP/CDD oversight, OFAC screening workflows, fraud typologies, and exceptions that require SAR consideration
Ensure record retention, disclosure delivery, adverse action notices (as applicable), and error-resolution timelines are met
Manage deposit-related fraud monitoring and mitigation (check fraud, ACH/wire fraud, debit card fraud, account takeover, elder abuse indicators)
Lead case triage, investigations, documentation, and customer communication in coordination with BSA/Fraud
Tune controls (deposit holds, RDC limits, wire/ACH limits, card controls) to mitigate emerging risks
Serve as business owner/SME for core processing, online/mobile banking, debit card, ACH/wires, RDC, and statement platforms
Coordinate upgrades, patches, conversions, and parameter changes; validate outcomes and communicate branch impacts
Map and implement workflows; reduce manual touchpoints Implement straight-through processing where feasible; standardize branch procedures and checklists
Establish KPIs and dashboards; drive continuous improvement projects tied to measurable outcomes
Lead, coach, and cross-train deposit ops staff and branch supervisors on critical processes and controls
Create coverage plans for peak volumes, vacations, and incidents; personally step in for complex tasks as needed
Deliver role-based training (Reg E disputes, Reg CC holds, error resolution, reconciliations, cash controls)
Primary contact for deposit operations and branch operational risk during internal/external audits and regulatory exams
Prepare requested materials; respond to findings; own corrective action plans and verify remediation completion
Maintain an issues log with root-cause analysis, due dates, and validation evidence
Provide monthly/quarterly reports on: Processing volumes, exceptions, error rates Fraud/loss trends and recoveries Branch audit results and control testing outcomes Backlog, staffing capacity, and system performance
Demonstrate a working knowledge, comply and enforce First Federal Bank of Wisconsin employee Promote a culture of compliance and collaboration across all departments
Communicate effectively with management, staff, and external stakeholders to ensure clarity and alignment on compliance and operational priorities
Participate in ongoing training and professional development
Perform other duties as assigned
Qualification
Required
4-year degree or equivalent experience in banking, compliance, or related field
Minimum 5 years of experience in deposit operations and regulatory compliance, including BSA/AML
Strong leadership, organizational, and problem-solving skills
Excellent verbal and written communication skills with the ability to convey complex information clearly
Ability to foster collaboration and maintain positive relationships across departments
Proficiency in Microsoft Office and banking systems
Preferred
Sound knowledge of Bank Financial services, Bank philosophy
Leadership skills
Ability to prioritize well, an aptitude for detail work, good communication and listening skills
Tact and diplomacy in dealing with vendors and employees
Strong organizational skills
Ability to work well under pressure
Proficient computer skills
Strong communication skills
Problem solving skills
Flexibility and ability to multi-task
Flexible schedule
Company
First Federal Bank of Wisconsin
The Community Bank Difference The Community Bank Difference is more than a tagline, it is our culture at First Federal Bank.
11-50 employees
Funding
Current Stage
Public CompanyTotal Funding
unknown2017-10-13IPO
Leadership Team
Edward H. S.
President and CEO
Steve Wierschem
Chief Financial Officer
Recent News
Milwaukee Business Journal
2025-01-22
Company data provided by crunchbase