Payment Operations Specialist - MSI

Position Summary:

We are seeking a Payment Operations Specialist to join our team and manage the processing of refund and cancellation requests, handle payment application errors, and assist in processing paper checks and wire payments. This position requires a high level of organization and attention to detail, as well as effective communication with various departments to ensure payments are processed accurately and efficiently.

Primary Responsibilities

Payment Processing, Refund Processing, Cancellation Requests, Error Resolution

• Review and process refund requests from internal departments for various reasons, ensuring accuracy and timeliness.
• Efficiently manage policy cancellation requests received via multiple channels such as Teams, email, and direct customer correspondence.
• Conduct meticulous evaluation of cancellations that are either backdated or scheduled for a future date.
• Upload written requests to the respective policy and forward them to internal departments for further processing.
• Identify and resolve errors during the payment application process, including issues related to Broken Policy Flags where the policy cannot be viewed.
• Document issues and collaborate with IT/Product Support to resolve payment errors, ensuring detailed information is communicated through ticketing systems.
• Manage the receipt and processing of paper checks, wire transfers, and remittances, ensuring all transactions are accurately recorded.
• Coordinate with external partners when evaluating provided information, ensuring all relevant data is considered.
• Work closely with the Payments Supervisor to manage daily payment tasks, ensuring accurate processing and timely completion.
• Provide regular updates on the status of refunds, cancellations, and payment errors.
• Maintain clear and effective communication with IT, Customer Service, Underwriting, and other teams to resolve payment-related issues efficiently.

Knowledge, Skills and Abilities

• Experience: 1.5 years in a professional office environment or 1 year of experience in payment research, payment operations and/or finance, preferably in insurance or financial services.
• Technical Skills: Familiarity with payment processing systems and Proficiency in Microsoft Office (Excel, Teams).
• Attention to Detail: Ability to identify and resolve errors in payment applications.
• Problem-Solving: Excellent problem-solving skills for resolving payment application errors.
• Time Management: Ability to prioritize tasks effectively and meet deadlines.

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