Payment Operations Specialist

PenFed is hiring a (Hybrid) Payment Operations Specialist at our Omaha, Nebraska Service Center.  The primary purpose of this job is to ensure accurate allocation and availability of checks and/or financial instruments after analysis for acceptance, fraud risk, and posting method impacting future payments, investor agreements, and reporting. This role requires the incumbent to display passion, commitment, and drive to deliver results that improve operational efficiencies, cross functional relationships, and overall member experience. This role is relied on to be the subject matter expert on check acceptance, items processing, Federal Reserve files, funds availability, and UCC, regulations and policies governing the same. It is critical to support the team, consumer banking, internal partners and PenFed goals and objectives to provide the best member experience and protect from losses.

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties, and the position will perform other duties as assigned.

• Analyze, distribute, or process checks, electronic files, and/or financial instruments while following established departmental policies and complying with Federal guidelines and PenFed policy and procedures.
• Detect and report potential fraud transactions, checks, and suspicious account activity to management for further investigation and referral to BSA and FSO for additional review and compliance with provisions of the Bank Secrecy Act.
• Ensure all financial transactions, processing and responses to members are within dictated time frames as determined by PenFed, regulations, and FRB.
• Analyze exception and return items requiring specialized handling from multiple sources within posting deadlines, and according to State, Federal, and governing body regulations and PenFed established policies and procedures.
• Analyze reports and transactions for anomalies such as large dollar amount transactions.
• Research and resolve rejected items and/or transactions requirement additional information for proper posting.
• Reconcile transaction activity and balance all GLs, reporting, and FRB files daily.
• Research and resolve discrepancies for checks and other financial instruments; respond to members and internal departments (to support CFPB, subpoenas, executive correspondence) within dictated time frames as determined by PenFed, and regulations.

• Assist and compile daily or monthly production reports as directed by management.  

• Familiar with regulatory/compliance resources, i.e., Reg B, Reg CC, Reg E, Reg J, Reg Z, UCC Articles 3 and 4, and other resources impacting deposit and payment processing.

• Ensure all member documents that contain nonpublic personal information are secure and undisclosed for compliance with Regulation P of the Gramm-Leach-Bliley Act under guidelines enforced by the CFPB regulatory agency.

• Other duties as assigned by management.

Equivalent combination of education and experience is considered.

• Associate’s degree preferred.
• Minimum of three (3) years of experience with processing financial instruments
• Experience analyzing and reviewing fraud trends is preferred.
• Excellent oral and written communication skills required.
• Ability to learn new computer programs and become proficient.
• Advanced working knowledge of Microsoft Office Word, Excel, Access, and Visio.
• Knowledge of financial institution structure, products, policies, and regulations preferred.                                                                                                                     
• Knowledge of PenFed products, policies, and procedures desired.
• Ability to work effectively in ambiguous situations, ability to multi-task, and meet deadlines.
• Experience using AI tools preferred.

Supervisory Responsibility

This position will not supervise employees.                                   

Licenses and Certifications

There are no additional certifications required.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on call may be required.

Pay Transparency 
The anticipated starting hourly range for this role is $18.56 - $31.14
This position is eligible for an organizational performance based annual bonus, subject to board discretion and approval.
This position is eligible for an individual performance based annual bonus.

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