Deposit Account Services Team Lead

Introduction

Since 1973, East West Bank has served as a pathway to success. With over 110 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement. 

Headquartered in California, East West Bank (Nasdaq: EWBC) is a top-performing commercial bank with a strong foundation, an enterprising spirit and a commitment to absolute integrity. East West Bank gives people the confidence to reach further.

Overview

The Deposit Account Services Team Lead is responsible for overseeing East West Bank’s escheatment process, including monitoring eligible property, coordinating due diligence notifications, and ensuring timely and accurate state filings. The role also supports IRA account monitoring, tax reporting (Forms 5498, 1099 INT, and 1099 R), and provides guidance to branch and operations teams. This position is critical to maintaining regulatory compliance and operational accuracy across deposit related functions.

Responsibilities

• Identify and monitor negotiable items (cashier checks, money order, disbursement and vendor checks, etc.) that are eligible for escheatment
• Identify and monitor IRA (traditional and ROTH) that are eligible for escheatment
• Identify and monitor expired gift cards for potential escheatment
• Prepare and mail due diligence letters within required state timelines
• Create NAUPA reports for each state with escheatable property and file and remit by the deadlines
• Review NOW accounts and ensure they meet Reg D requirements
• Handle requests for corrections related to 5498, 1099-int and 1099-R
• Maintain compliance with escheatment and tax reporting regulations across all applicable states
• Assist branches and internal teams with questions related to the above
• Support cross training and other duties as assigned
• Perform other duties as assigned.

Qualifications

• Bachelor’s degree preferred
• Experience with escheatment preferred but not required
• Experience with IRA rules and tax reporting (5498, 1099 series) preferred but not required
• Strong analytical skills and attention to detail
• Ability to interpret and apply state escheatment regulations
• Strong communication and customer support skills
• Proficiency with Microsoft Office and ability to learn bank systems quickly

Applicants must have legal authorization to work in the United States.  We do not offer visa sponsorship at this time.  

Compensation