Remittance Processor III

Location: VA Vienna - Headquarters Full/Part Time: Full-Time Regular/Temporary: Regular

Job Description

Employee Perks

Why You Will Love Being Part of the Navy Federal Team:

*Competitive compensation with opportunities for annual raises, promotions, and bonus potential
*Best-in-Class Benefits! (7% 401k match / Pension plan / Tuition reimbursement / Great insurance options)
*On-site amenities include fitness center, wellness center, cafeteria, etc. at Pensacola, FL; Vienna, VA and Winchester, VA campuses
*Consistently Awarded Top Workplace
*Nationally recognized training department by TRAINING Magazine
*An employee-focused, diverse, and service-oriented workplace environment

Basic Purpose

To capture, validate and process remittances (e.g., checks such as personal, business, estate and international; money orders; cashier checks, etc.) from multiple sources/systems (e.g., mail, ATM image, e-deposits, etc.) ensuring the timely negotiability of items. Verify accuracy and proper posting of transactions. Research multiple systems (e.g., remittance processing, UAD, ETS, VINTEK, etc.) and resources to ensure remittance and check processing are in compliance with internal and federal regulations. Ensure Navy Federal mail safety, negotiable instrument handling and check fraud procedures are followed. Make independent, mission critical decisions relative to remittances including return items, possible fraud detection, hold funds requirements, etc. Using appropriate level of authority, contact members and partner with other Navy Federal business units and/or external organizations to resolve remittance problems. Assist in guiding/training less experienced team members.

Responsibilities:

• Process and track transactions including time sensitive or exception remittances to ensure timely posting
• Identify and make processing decisions on remittances that require special handling based on sender, condition of remittance, established procedures and applicable processing system
• Collaborate with internal and external business contacts to resolve rejected items and questionable remittances (e.g., misapplied or un-posted funds, clarification of posting intentions, etc.)
• Identify and initiate adjustment; resolve posting errors and discrepancies related to out of balance conditions
• Key routine and exception items in all remittance processing platforms 
• Determine potential risks associated with escalated remittance items and authorize processing based on risks for each service channel
• Process member account transactions via ETS and Branch Capture; provide receipts and correspond with members 
• Research various resources, databases, and systems (e.g., multiple Navy Federal, vendor, government, etc.) to determine appropriate action 
• Interact with members, other staff and outside contacts to resolve discrepancies problems & issues 
• Determine negotiability or acceptance of financial instruments (e.g., personal/third party checks and/or Navy Federal drafts), according to organizational policies and procedures/member’s instructions and returns nonnegotiable or incomplete remittances 
• Research member accounts and determine funds entitlement or distribution for proper allocation of remittance or check deposit 
• Track, analyze and resolve transaction discrepancies and unresolved postings to include preparing related documentation and adjusting member accounts 
• Log items out to other departments using express mail or database tool
• Identify and maintain log of technical, mechanical, and/or electrical equipment problems; collaborate resolution with internal and external contacts
• Coordinate ATM maintenance and reconciliation; make recommendations and execute service decisions on settlement, cash replenishment, service calls vendors and discontinuation of service 
• Prepare and distribute balancing summaries and reports to internal business units within the established deadlines
• Identify and address compliance issues; update guidelines and procedures to minimize risk 
• Define and validate procedures; recommend process improvements for operational efficiency
• Serve as subject matter expert regarding business functions, systems, policies and/or procedures
• Conduct periodic testing of systems and business recovery plans
• Serve as mentor/trainer and provide guidance and assistance to team members
• Perform end-of-day duties (e.g., monitoring file creation, balancing ATMs, printing IRDs, return item grams, long hold processes, etc.)
• Performs other duties as assigned

Qualifications – All required unless otherwise noted:

• Experience in an accounting or banking operation, preferably dealing with payments, transactions, and balancing
• Experience in remittance processing operations and associated equipment
• Experience resolving complex remittance processing issues
• Working knowledge of Navy Federal products, services, programs, policies and procedures
• Working knowledge of Navy Federal processes and different types of transactions
• Advanced research, analytical, and problem solving skills
• Advanced skill exercising initiative and using good judgment to make sound decisions
• Effective skill interacting with staff, management, vendors and members diplomatically and tactfully
• Effective skill troubleshooting and resolving technical problems
• Effective organizational, planning and time management skills
• Effective skill navigating multiple screens and PC applications and adapting to new technologies
• Effective verbal and written communication skills
• Advanced skill performing mathematical calculations and working accurately with numbers
• Ability to handle multiple tasks simultaneously with a high degree of accuracy
• Effective skill following and completing computer delivered instructions
• Working knowledge of fraud trends and threats
• Working knowledge of the Uniform Commercial Code, Regulation CC and other related regulations
• Desired – College level accounting, financial or related courses or degree
• Desired – Experience applying technical accounting knowledge in performing transactions and reconciliation

Hours:
Monday-Friday, 9:00AM-5:30PM

Equal Employment Opportunity

 

Navy Federal values, celebrates, and enacts diversity in the workplace.  Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans.  EOE/AA/M/F/Veteran/Disability