What are the responsibilities and job description for the Payment Processing Specialist III position at Busey?
Position Summary
As a Zelle and ACH Lead Specialist for Busey, you will be responsible for handling electronic payment exceptions, escalations, and reconciliations related to ACH, Real Time Payments, Wire, and/or Zelle within established timeframes to mitigate risk. Independently analyze, research, and process complex electronic payment exceptions, disputes, and requests in accordance with applicable operating rules and regulatory guidelines. Perform outbound calls to clients and internal departments to resolve exceptions. Perform account reconciliation, validation, and research out of balance conditions for assigned General Ledger/Enterprise Owned Deposit Accounts in accordance to Accounting and Financial Reporting policies. With minimal oversight, provide internal departments with appropriate payment channel/solution to meet client/business needs while mitigating associated risk. Maintain extensive and expert knowledge of the policy, operating rules, and regulations of payments channel to lead/support periodic reviews of operational procedures, streamline processes, and compliance with payments channel compliance.
Duties & Responsibilities
Knowledge Of
Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.
(Base Pay Range: $54,000 - $72,000/year)
Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being—now and in the years to come—are important to us. Busey’s Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.
Equal Opportunity
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey’s commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.
Unsolicited Resumes
Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies (“Agency”), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings (“Agreement”). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.
As a Zelle and ACH Lead Specialist for Busey, you will be responsible for handling electronic payment exceptions, escalations, and reconciliations related to ACH, Real Time Payments, Wire, and/or Zelle within established timeframes to mitigate risk. Independently analyze, research, and process complex electronic payment exceptions, disputes, and requests in accordance with applicable operating rules and regulatory guidelines. Perform outbound calls to clients and internal departments to resolve exceptions. Perform account reconciliation, validation, and research out of balance conditions for assigned General Ledger/Enterprise Owned Deposit Accounts in accordance to Accounting and Financial Reporting policies. With minimal oversight, provide internal departments with appropriate payment channel/solution to meet client/business needs while mitigating associated risk. Maintain extensive and expert knowledge of the policy, operating rules, and regulations of payments channel to lead/support periodic reviews of operational procedures, streamline processes, and compliance with payments channel compliance.
Duties & Responsibilities
- Work with Deposit Services, Digital Channels, Information Services, Accounting, Fraud, BSA/AML, Vendors and Clients to resolve any processing, reconcilement discrepancies, and REG E disputes.
- Reconcile Zelle and ACH General Ledger accounts, process adjustments, returns and recoveries.
- Utilize the tools that support Zelle processing and disputes (Compass, SPC, IPS, TRECS).
- Conduct complex research inquiries and disputes with timely resolution.
- Identify and report potential suspicious activity to the fraud team.
- Monitoring of live international ACH transaction (IAT) OFAC Suspects; escalate, block, or reject transactions as needed.
- Process ACH origination files efficiently to ensure strict timeframes are met.
- Ensure daily activities align with internal policies and regulatory requirements; contribute to audit support and reporting obligations.
- Maintain a deep understanding of processor platforms and stay current on payment industry developments.
- Serve as the payment subject-matter expert, guiding internal teams and customers through payment systems, escalations, and resolution strategies.
- Provide back up support as needed
- Enhance maker checker and quality processes
- Prepare various reports, including but not limited to management reports.
- Assist with the development of data monitoring approaches to support risk monitoring and mitigation.
- Develop and implement corrective measures to reduced risk.
- Manage vendor relationships on assigned processes to ensure service levels are met and issues are reported and resolved timely.
- Represent department when department manager is not available, communicating as needed with Lines of Business and Management, working to collaborate on critical issues and solutions.
Knowledge Of
- Electronic funds transfer system automation capabilities and requirements to promote straight through processing. As well as laws, rules, and regulations applicable to NACHA and wire transfer services.
- Job-specific knowledge that is necessary to provide the appropriate quantity and quality of work in a timely and efficient manner.
- MS Office tools including expert knowledge of MS Excel, MS PowerPoint.
- Interact effectively with others to establish and maintain smooth working relations demonstrating excellent interpersonal relations
- Demonstrate responsible personal and professional conduct, which contributes to the overall goals and objectives of Busey.
- Display ability to review and analyze data reports and manuals; must be computer proficient.
- Challenge the status quo and promoting positive change.
- Bachelor’s and/or 4 years related work experience – preferred
- Related experience to include a focus within operations, banking, or digital payments
- Accredited Automated Clearing House Professional (AAP) Certification is preferred
- Requires knowledge of Microsoft Office.
Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.
(Base Pay Range: $54,000 - $72,000/year)
Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being—now and in the years to come—are important to us. Busey’s Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.
Equal Opportunity
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey’s commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.
Unsolicited Resumes
Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies (“Agency”), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings (“Agreement”). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.
Salary : $54,000 - $72,000
