Payments Analyst

Description

About BFCU:

BankFund Credit Union (BFCU) is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BFSFCU maintains three full-service branches downtown as well as a full-service Lending Center near Farragut West metro station.

Summary:

Assists the credit union with the daily inclearing, processing, adjustments, and administration of check files from the Federal Reserve. Processes Share Branch exceptions and adjustment items, also balances corresponding GL’s.   Additionally, assists with the analysis, reporting, and driving the member experience regarding money movement channels, e.g., Real-time, Same day, and Standard pathways.

Responsibilities:

Share Draft:

• Posts inclearing Check Files and exception items in accordance with Credit Union policy.
• Utilizes Check 21 Software for check fraud monitoring. 
• Processes adjustments through the Federal Reserve System
• Conducts all inclearing process testing on applications and upgrades (both hardware and soft-ware).
• Corresponds with outside financial institutions and internal departments regarding check clearing issues.
• Seeks opportunity to drive efficiency and automation within daily processes
• Leads, corresponds, and manages member inquiries and escalations related to products within EFT team.
• Prepares and maintains check clearing activity statistics, reviews and balances appropriate General Ledger accounts.
• Partners with Risk Management on share draft fraud monitoring, utilizes best practices on making pay/no pay decisioning. 

Shared Branch

• Process ATM and Check exception items that are transmitted through the CO-OP Share Branch network.
• Coordinate with Card Services and Communication Center on Shared Branch dispute resolution.
• As necessary, will communicate directly with members on adjustments and exceptions. 
• In coordination with accounting, will balance all Share Branch GL’s
• Monitor EFT mailbox for all incoming mail from Shared Branch Network participating FI’s.  

Money Movement:

• Actively responds to member feedback and coordinates member best practice experiences related to product offering, utility, access, updates, etc. Partner with the Member Experience Manager to gather and assess member feedback related to payments products and processes.
• Partners with Risk Department to monitor and respond to limits, access, trends, fraud-related items, etc. 
• Communicates with frontline teams and vendor to ensure BFSFCU is offering a smooth expe-rience that protects the members while also balancing risk. 
• Processes daily, weekly, monthly statistics on product use and member experience to share trends and utility with EFT Manager. Completes reporting and scorecard for money movement products. 
• Supports products and department by assisting with vendor releases and updates.
• Maintains and increases knowledge on money movement products via webinars, vendor meetings, and maintaining industry knowledge.
• Conducts testing and validation on all non-ACH EFT product enhancements. Serves as a liaison between EFT and IT during weekly meetings with IT product managers. 
• Processes all debit card exceptions and balances corresponding GL. 
• Maintains and drafts Policies and Procedures as needed.
• Undertakes other work-related duties as assigned by the Manager, EFT Settlement Services.

Organizational:

• Participate in annual job specific and organizational required training programs.
• Ensure the Credit Union’s safe harbor protections as allowed by the BSA.  Understand that if confronted with knowledge of existence of a Suspicious Activity Report (SAR), an obligation exists to preserve the confidentiality of that SAR, as well as any information that may reveal the existence of a SAR.  Maintain awareness of, and immediately report to the Compliance Officer, any unauthorized disclosure of a SAR, or unauthorized disclosure of information related to a SAR. Understand that failure to do so is a violation of federal law and may lead to both civil and criminal penalties for SAR disclosure violations.
• Successfully participate in annual Information Security refresher training. Comply with the In-formation Security Policy, including the immediate reporting of unusual or suspicious activity to management and the Information Security Officer. Follow all procedures to protect company computers from viruses, and to maintain the security and confidentiality of Credit Union data.

Requirements

Minimum Qualifications or Knowledge, Skills and Abilities Required 

• Minimum of three years professional experience in the banking industry, with demonstrated experience in payment product oversight, process efficiency, and project support.
• Proficiency with Microsoft Excel required.
• Analytical skills with ability to lead process from beginning to end with minimal supervision is required.
• Ability to approach role in a collaborative manner:  partnering with internal employees, vendors, and members where needed.

Professional Qualifications:

• Strong commitment to BFSFCU’s Service PACT philosophy
• Proven ability to work on a team
• Reliability and accountability
• Ability to organize and prioritize tasks to establish and meet deadlines.

For internal purposes, this position is graded as NE-8