Payment Specialist

Description

Summary/Objective

At R.I.A. Federal Credit Union, the primary focus for the Payments Specialist position is to perform a quality assurance role for payments (transaction processing and related functions/applications). The purpose of this position is to review key payment related reports and processes to ensure accuracy, compliance and the quality of the Staff and Member experience. This role will act as a payments resource for the organization, performing review and research. The individual(s) performing this role will have (or learn as necessary) knowledge of key processes of the various payment channels.  

This is accomplished through:

• Relationships: Building relationships is integral to the success of R.I.A. As a community credit union employee, R.I.A. Payment Specialist will invest the time to take care of members’  needs while finding opportunities to improve their financial well-being.
• Integrity: Operating with integrity is becoming a more difficult trait to find in a financial institution. The R.I.A. Payment Specialist is committed to handling member’s finances in a manner that is ethical, transparent, and professional.  
• Action: Not content with “business as usual,” R.I.A. is action oriented. From helping a member solve a financial challenge to positively impacting the community through volunteering and sponsorships, R.I.A. is motivated to action.

Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions

1. Review assigned reports (system and custom reports) in compliance with defined standards.

a. Debit Card Disputes:

i. Monitor reports (Dispute Related) for transaction and process accuracy, timeliness desired end results.

ii. Maintains case detail and records related to transaction postings.

iii. Validate and reconcile designated dispute related transactions.

iv. Review and perform RIA specific activities/tasks.

b. Transaction Activity:

i. Review assigned reports and record daily transaction activity for management reporting.

ii. Monitor for exceptions in card and transaction processing.

iii. Monitor for usage trends.

iv. Review fraud reports and perform required follow-up.

c. Monitor and report exceptions:

i. Transactions, Member and Staff experience and support needs.

ii. Document exceptions for cause and effect.

iii. Create support cases and follow-up on processing needs.  

d. Document exception findings for reporting and tracking.

e. Monitor vendor performance – document & track exceptions and activities.

f. Maintain accurate reporting documentation for transaction volumes and values, Member channel usage and channel performance results (as available).

2. Reviews key reports and demonstrates the ability to utilize reports to obtain required information.

3. Maintain the ability to navigate core and ancillary applications to obtain required information and perform research. Utilizes existing external resources and investigates to identify additional resources, as necessary.

4. Monitor processes for Member/Staff experience exceptions (both positive and negative).

5. Utilize knowledge of payment processing to identify errors and/or processing issues/opportunities. Demonstrate abilities to understand situations/exceptions and assists with effective solutions.

6. Establish and track vendor cases for processing questions, capabilities, identified issues and enhancements to resolution.

7. Performs research regarding transactions and identified exceptions, as needed, to identify cause and assists with resolutions for Members and Staff, including broader processing issues.

8. Monitors key data (including card and account level) elements, as assigned, and demonstrates an understanding of the importance of data integrity, recognizes anomalies, and performs research, reviews and monitors for accuracy of key data fields. Prepares appropriate documentation of observations to assist with resolution.

9. Utilizes analytical skills in reviewing reports, issues, and processes, as they relate to payment channels and the related functions and applications.

10. Contributes to the organization’s fraud mitigation and prevention efforts, as assigned, utilizing available information, utilizes tools and other services.

11. Utilizes ability and skills to analyze processes to create and update documentation regarding processes, including any findings and associated resolutions.

12. Maintains operational knowledge and understanding of Reg E, Mastercard Operating Rules, FRB Reg CC and NACHA Operating Rules (performs research as necessary).

13. Demonstrates initiative in reporting observations.

14. Provide support for internal staff regarding payment channel functionality and compliant processing capabilities.

15. Review documentation and demonstrate an understanding of payment processes, existing and proposed.

16. Utilize resources to expand understanding and competency in payment channels and applications.

Competencies

• Leadership
• Business Acumen
• Confidentiality
• Financial Acumen
• Ability to problem solve
• Respectful
• Collaborative
• Can learn and evolve
• Trustworthy
• Ethical Practice
• Adaptable
• Trustworthy/ethical/listens well
• Attention to detail and solid organizational skills
• Strong written and verbal communication skills; comfortable making presentations
• Takes initiative; problem solves
• Relates well to employees at all levels; relationship-builder

Supervisory Responsibility
No supervisory responsibilities.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

While performing the duties of this job, the employee is regularly required to spend considerable time sitting at a desk, completing work using a computer, regularly answers phone calls and interacts with employees at all levels of the organization. The employee will occasionally lift and move up to 10 pounds.

Type/Expected Hours of Work

This is a full-time position. While normal hours of work and days for R.I.A. Federal Credit Union are Monday through Friday, 8:00 a.m. to 5:00 p.m., hours for this position reflect administrative attendance, but may vary based on job related requirements.   

Travel

No travel is expected for this position other than some local travel in the Quad City area.

Required Education and Experience

• The minimum education required is a High School diploma, with relevant work experience in financial services.
• College degree or comparable work experience, preferred.
• Two years of work experience associated with financial services, payment processing, performing reconciliations or other transaction related processing.
• Good organizational skills plus analytical and problem-solving ability with experience researching inquiries and identifying potential resolutions.
• Experience in customer service, dispute resolution, or research requests, preferably in the banking or financial services industry.
• Attention to detail and accuracy in documenting requests, investigations, and resolutions.
• Prior experience assisting members or clients, by phone or electronic channels.
• Empathy and patience to understand member’s concerns and address them professionally and courteously.
• Strong communication skills, both verbal and written, with the ability to effectively interact with customers and internal stakeholders. Fluency, clarity, and good diction in English.
• Experience researching both routine and tier two level inquiries, escalates as necessary.
• Experience with transaction related operational rules and regulations, strongly desired.
• Experience with debit and/or credit card processing including but not limited to setup, limits, monitoring, fraud reporting, transaction flow troubleshooting, etc.
• Experience with NACHA Operating rules and Accredited ACH Professional (AAP) certification a plus.
• Ability to thrive in a fast paced, technical environment.
• Experience interacting with service providers and vendors.
• Ability to understand technical documentation.
• Ability to identify and recommend process improvements.

EEO Statement

R.I.A. Federal Credit Union believes in equal employment opportunity for all employees and applicants for employment. Our company’s success depends on the effective utilization of qualified individuals regardless of their race, creed, color, religion, sexual orientation, age, ancestry, national origin, disability, military or veteran status or any other characteristic protected by law.  We will not discriminate on the basis of these characteristics in a personnel action including, but not limited to, hiring, training, promotions, transfers, demotions, benefits, compensation, discipline, termination and any other conditions or privileges of employment.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time to adjust and adapt to the changing needs of the business.

Qualifications