Purpose: The Legal Processing Specialist is responsible for handling legal documents, regulatory requests, and the management of unclaimed or abandoned property in accordance with federal and state laws. This role ensures that the bank complies with legal processes such as garnishments, levies, subpoenas, and escheatment of dormant accounts, while maintaining accurate documentation and supporting internal and external stakeholders.
Essential Functions:
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Legal Processing
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Receive, review, and process legal documents (e.g., subpoenas, garnishments, levies, court orders) in a timely and accurate manner.
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Coordinate with legal counsel and internal departments to ensure appropriate response and compliance.
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Serve as a liaison between the bank and law enforcement, attorneys, courts, and regulatory bodies.
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Maintain logs and records of all legal documents and their status.
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Conduct annual review and correction of IRS B-Notices.
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Conduct annual review of expired or missing W-8 Certifications.
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Review, make appropriate corrections and process the annual IRS 1042-S file.
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Abandoned Property
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Monitor and manage dormant accounts in accordance with state-specific escheatment laws.
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Prepare and submit reports to state agencies for unclaimed property.
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Communicate with customers regarding dormant accounts and potential escheatment.
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Reconcile unclaimed property liabilities and ensure accurate reporting.
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Audit and Compliance
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Ensure all activities are conducted in compliance with applicable laws, regulations, and internal policies.
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Assist with audits, examinations, and regulatory reviews related to legal processing and escheatment.
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Stay up to date on changes in legislation and regulations impacting legal processing and unclaimed property.
Job Related Qualifications :
Required:
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Education: High School Diploma
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Prior Experience: 3+ years of experience working with legal documents, regulatory requirements, banking experience
Preferred:
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Education: Associate degree or Bachelor’s degree in business-related area of study.
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Prior Experience: 5+ years of experience Banking Operations, Abandoned Property or Legal experience handling subpoenas, restraints, levies, etc.
Competencies:
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Attention to detail to ensure accuracy.
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Excellent organizational skills with the ability to manage multiple priorities and meet established deadlines.
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Responds to requests for information in a timely and professional manner.
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Working knowledge of Microsoft applications with the ability to learn new and existing Banking software.
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Strong interpersonal and communication skills (both written and verbal).
Physical Requirements:
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Able to regularly sit for prolonged periods of time.
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Able to travel occasionally within the corporate footprint.
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Extensive computer usage is required.
Benefits:
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Medical, Dental, and Vision Insurance
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Health Savings Account
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Flexible Spending Account(s)
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Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
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Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
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Tuition Reimbursement
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Employee Referral Program
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Wellness Reimbursement Program
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Star Volunteer Program
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Employee Banking and Financial Perks
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Flexible Hybrid Work Schedule
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Paid Time Off (PTO)
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Company Paid Holidays
This job description is not exhaustive. The Legal Processing Specialist may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.
