Senior Payment Analyst - Check Processing

Mphasis applies to next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in the Mphasis’ Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2TM=1) digital experience to clients and their end customers. Mphasis’ Service Transformation approach helps ‘shrink the core’ through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis’ core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients.

Skills and Qualification

• Candidate should have minimum 3 Years of work experience in Payment Processing – Check Item/Exception processing.
• Good understanding regulation related to Checks
• Strong knowledge of Check clearing procedures.
• Expertise payment platforms – SCO Web or equivalent banking portals.
• Proficiency in bank account validation, exception handling, reconciliation, and settlement processes.
• Strong analytical and problem-solving skills for resolving payment failures, variances, and investigations.
• Understandingfraud control mechanisms, OFAC/AML compliance, and risk-mitigation procedures.
• Excellent attention to detail, accuracy, and adherence to internal controls and dual authorization workflows.
• Strong communication skills for interacting with banks, vendors, auditors, and internal stakeholders.
• Ability to operate in high-volume, deadline-driven environments while maintaining accuracy.

Key Deliverables:

• Execute end-to-end payment processing for Checks, ensuring accuracy, compliance, and timely settlement across domestic and international transactions.
• Prepare, validate, and transmit Check disbursement batches bank portals with required approval controls.
• Manage beneficiary/payee verification, bank detail validation (routing/IBAN/BIC), and adherence to dual control workflows.
• Monitor and process returns, rejects, and exceptions, check exceptions (stop payments, stale/altered checks).
• Oversee lockbox remittance preparation, scanning and submission. Develop and deliver customized reporting solutions for high value clients
• Review, research and resolve in clearing check exceptions (MICR encoding errors, non-post items, stop payments, lockout flags, etc.)
• Process and validate outgoing check returns incompliance with Federal Reserve guidelines
• Monitor deadlines to avoid financial loss
• Conduct daily reconciliations of check registers against bank statements, resolving breaks with thorough root-cause analysis.
• Perform and review account and transaction reconciliations. Investigate and resolve complex discrepancies
• Review, qualify all foreign checks presented for deposit & Resolve return/adjustments as received.
• Handle escalated check negotiability cases and ensure accurate creation of customer adjustments. Provide guidance on exception handling.
• Maintain cut off time adherence, ensuring timely release of check processing aligned with banking schedules and value dates.
• Generate and maintain daily/weekly/monthly reports including settlement summaries, exception logs, outstanding checks, and operational dashboards.
• Ensure adherence to all applicable regulations. Serve as a liaison with Compliance and Audit teams during reviews and assessments
• Develop and update SOPs, process documentation, and audit artifacts, supporting continuous improvement, internal controls testing, and operational efficiency initiatives.

Technical / Non-Technical Skills:

• Excellent MS Office skills – MS Excel, Power Point, Excel Macros and E Mail Drafting
• Good Typing Speed of 28 WPM with >=95% accuracy
• Excellent Communication skills – to Review Email, to attend Client Calls, Onshore Training etc

Behavioral Skills:

• Working Hours – should be flexible to do Over Time duty if required.
• Punctual and adherence to attendance and Leaves
• To report to Team Lead/Manager and follow the Instructions and the HR Policies as per Company

Certifications Needed:

• Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent
• Minimum experience required: 3 years in ACH Operations within a financial institution or payments processing environment
• Experience with ACH processing systems
• Strong knowledge of NACHA operating rules, Regulation E, and the ACH network.
• In-depth knowledge of check clearing processes, Check 21, Regulation CC, and item processing systems

Expected Competencies:

• Interpersonal Effectiveness: Candidate should be a team player and demonstrate required aptitude and attitude towards work and the Team.
• Service Orientation: Candidate should be Customer Centric and committed to delivering the best to Customers and the Business.

Equal Employment Opportunity

Mphasis is an equal opportunity/affirmative action employer committed to a diverse workforce. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, disability or genetic information, gender identity or national origin.

Pay: $25.00 - $30.00 per hour

Benefits:

• 401(k)
• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid parental leave
• Paid time off
• Referral program
• Vision insurance

Work Location: In person

Benefits:

Salary : $25 - $30