Payments Support Specialist-ACH / EFT

Description *We are looking for more than just an employee, we are looking for a true team member dedicated to enhancing the member experience! Come join the credit union movement and* Discover Banking With Heart at NIHFCU!

• At NIHFCU, one of our core values is investing in our employees, which is why we offer perks like these : *
• Benefit Package for all Full time employees includes health, dental, vision, Life insurance benefits.*
• 401(K) and profit sharing.*
• Tuition Reimbursement.*
• Career Advancement and development.*
• Credit Union Membership with discounted services and products.*

GENERAL SUMMARY

Responsible for : Under limited supervision, this position requires knowledge and expertise in various electronic payment systems, Automated Clearing House (ACH) rules and regulations, ACH processing, Wire Transfer, P2P and other payment services.

Attention to detail and ability to resolve problems and make decisions in a fast-paced computerized environment is critical.

Review, verify, and balance incoming and outgoing ACH files for multiple ACH settlement windows, ACH origination files and return items.

Process ACH exceptions, stop payment requests, disputes and inquiries. Ensure the processing of large volume and high dollar origination files timely and accurately in conjunction with transmission cutoff times throughout the day.

Assists with the review of daily alerts from vendor software to detect and mitigate potential fraud situations. Performs OFAC scanning of payment files.

Knowledge is required in other forms of electronic payment transfers, ATM / Debit card programs and advanced Item Processing solutions.

Works closely with BSA, Compliance and Fraud Departments.

MAJOR DUTIES AND RESPONSIBILITIES

Perform ACH specific functions daily, download and upload ACH files from and to FedLine within prescribed timeframe, as required by Federal Reserve and NACHA regulation.

Perform the daily post and balance of ACH transactions, warehouse items and completing reconciliations of all files received / sent.

Resolve exception transactions, assess processing fees, and return items as necessary within the appropriate return timeframe.

Review and respond to the daily ACH reports including but not limited to, Notification of Change (NOC), Death Notices, ACH Pre-notification report, etc.

Place stops and process member disputes, Letters of Indemnity and Written Statements of Unauthorized Debit claims relating to ACH transactions.

Review, track and process ACH fraud claims.

Review and process consumer ACH originations and third party vendor origination files according to Federal Reserve and NACHA regulations.

Including maintenance and updates to member origination contracts. Complete the appropriate entries to member accounts for ACH originated return items.

• Handle ACH death notices and Reclamations when required, post appropriate entries into general ledger accounts for ACH and work with Recon team to resolve differences.
• Perform Item Processing functions daily including process and balance share draft in-clearing files; submitting the share draft return file in a timely manner.

Balance daily transit files and related general ledger accounts. Receive and process Returned Deposit items from Federal Reserve.

Process adjustments through Federal Reserve within required timeframe and follow up until resolution. Process check adjustments and encoding errors.

• Process incoming and outgoing domestic and foreign wire transactions in accordance with OFAC requirements. Post wires to member accounts, and assess appropriate fees.
• Process Reg-E claims related to ACH, check and wire transactions.
• Review and process all check deposits received in back office through retail delivery channels such as Remote Capture, Mobile Deposits, Lockbox, US mail and foreign check deposits.

Review and process posting exceptions in these areas to clear any out-of-balance conditions.

• Provide support for general ledger reconcilements that includes daily Federal Reserve balancing, ACH, checks, and Remote & Mobile Deposits.
• Resolve all member issues related to checks, wires, ATM / mail deposits and perform research as requested by members and staff.
• Complete cash order requests for branches and ATM cash vendor.
• Process void or stop payments on NIH FCU cashier checks.
• Verify and reconcile Shared Branch activity with general ledger, and adjust returned deposits.
• Have the ability to communicate professionally and satisfy CPA audits by maintaining compliance in all payments processes utilized by the credit union.

Prepare and maintain proper procedural documentation for compliance purposes and participate in all Wires and ACH related audits.

• Ensure Office of Foreign Assets Control (OFAC) compliance for relevant transactions.
• Key resource for maintaining and testing the wire and ACH Operations Business Continuity Program (BCP) and Risk Assessment review and revision.

Performs testing for system updates as needed.

Requirements Education and Experience :

• Bachelors Degree in Business Administration, Accounting, Finance, or related discipline preferred, or a high school diploma with equivalent level of experience.
• Three to five years( minimum) related experience in bank operations, ACH processes, wire transfers, check services, plastic card products and back office operations.

A minimum of three years financial industry experience, with a working knowledge of Federal Reserve wire and ACH rules and regulations as they apply to credit unions, banks and financial service organizations.

• Detail oriented, have excellent interpersonal, communications, problem-solving and analytical skills with the ability to handle multiple competing priorities and meet deadlines.
• Strong research abilities and fraud detection skills a plus.
• Proficiency in Microsoft Office Excel, Word required.

Last updated : 2024-03-06