Director of Payment Processing

Job Summary Overview

The Director of Payment Processing is responsible for leading the strategy and operations of Arizona Financials’ payment systems, ensuring efficiency, security, compliance, and cost optimization. This role encompasses the development of payment strategies, management of vendor relationships, implementation of new payment technologies, risk mitigation, and collaboration with cross-functional teams such as IT, finance, and product development. The successful candidate will possess strong analytical, strategic, and communication skills, enabling alignment of payment operations with organizational objectives while promoting an outstanding customer experience. This position oversees all aspects of payment processing within the Credit Union, focusing on safety and reliability and evaluating strategic initiatives to continuously improve existing processes. Additionally, this role directs the creation and enforcement of compliant policies and procedures, and conducts audits in accordance with NACHA, Automated Clearing House (ACH) network regulations, or other relevant regulatory bodies.

Essential Job Functions

• Responsible for all functions of Payment Processing and to support all leaders within the ACH, Wires, disputes and drafts.
• Manages all facets of payment transactions, including monitoring, fraud prevention, and reconciliation.
• Oversees and provides guidance for all the high-risk processing tasks performed by Payment Processing Supervisor, Senior Payment Processing Specialists and wire team.
• Directs and leads with processes, policies, regulations and audits.
• Accountable for analyzing and validating the quality and integrity of processes, practices, and systems throughout Payment Processing and the various functions.
• Provides leadership, coaching and feedback on performance as well as development opportunities.
• Guides and oversees supervisor/team with processing reports to ensure accuracy and timeliness.
• Works directly with the supervisor or manager to ensure payment processes remain efficient and accurate to meet employee and member needs while also focusing on new requirements.
• Guides on escalations and complex processing problems, ensuring timely resolution.
• Directs and assists with strategic plans resulting with efficiency/effectiveness for the area and systems.
• Oversees process improvements and innovation to enhance member and employee experiences.
• Maintains the highest level of understanding industry trends, regulatory changes, and best practices.
• Oversees that strict compliance with all relevant payment rules and regulations, including NACHA rules, internal policies, UCC 4A, Reg E, and Reg J.
• Owns the wire module and teller capture vendor relationships.
• Reviews industry trends and compliance updates to reduce potential risk and remain compliant.
• Leads and manages the Payments Rules Committee to keep the credit union in compliance with all relevant rules and regulations, ensuring operational integrity and minimizing risk.
• Partners to create, develop, and facilitates training of new employees, and cross-trains team members and other departments upon request/as needed. Includes internal certification testing.
• Leads efforts to identify and mitigates risks associated with payment processing activities.
• Seeks new products and services to improve effectiveness and reduces risks.
• Collaborates with leaders throughout the credit union for internal and external audits ensuring compliance and addressing any findings.
• Oversees the reporting, analysis, and data reporting on trends, results, resource effectiveness, forecast trends, and other relevant items.
• Performs other job-related duties as assigned.

Position Required Qualifications

Two years’ experience with payment processing systems and technology. Knowledge of payment systems and types including ACH, checks, and wire transfers. Strong understanding of banking regulations and compliance. Ability to manage multiple priorities in a fast passed environment.

Minimum Education and Experience

High School diploma or general education degree GED. Five (5) years of experience in a financial institution and two (2) years’ experience in Payment Processing. Two (2) years supervisory/managerial experience or two (2) year supervisory/managerial experience at Arizona Financial.

Knowledge, Skills, and Abilities

Knowledge and experience in NACHA rules and Government regulations. Knowledge of Regulation E, OFAC and BSA. Working knowledge of computers and software applications in Windows, Excel and Word. Ability to type 30 wpm. Ability to perform 10-key accurately. Ability to read, write, speak and use proper grammar in English. Ability to read and comprehend written instructions, correspondence, memos and procedure manuals. Demonstrated proficiency in drafting business correspondence, preparing comprehensive reports, and authoring procedural manuals. Ability to communicate verbally both in person and on the telephone. Ability to speak effectively to members regarding common inquiries or complaints. Ability to apply common sense understanding to conduct detailed written or oral instructions. Ability to add, subtract, multiply and divide using whole numbers, common fractions, and decimals.

Licenses, Training, and Certifications Required

None.

Preferred Qualifications

ACH Accredited Professional (AAP Certified). And/or Certified Payments Professional (CPP).

Hybrid Work Environment and Physical Demands

• Occasionally required to stand, walk, stoop, kneel or crouch.
• Frequently required to sit.
• Regularly required to use hands to finger keys accurately when using calculator machines or computer keyboards; reach with hands and arms.
• Occasionally lift and/or move up to 25 pounds.
• Specific vision abilities required by this job include close vision and ability to adjust focus.
• The noise level in the work environment is usually moderate.
• Must be able to travel independently to department and branch locations.

NOTE: The job description is intended to be generic in nature. It is not an exhaustive list of all duties and responsibilities. Requirements listed in the above qualifications and physical requirements are representative of the knowledge, skill, abilities, physical demands or work environment required or encountered that must be met by an employee to successfully perform each duty and each function of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

Employees who work from home must have business operational internet to complete work tasks and communicate via video call or chat messaging systems in a dedicated workspace.