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Check Processing Specialist I

Location: VA Winchester - Operations 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 validate and process checks and/or financial instruments received from multiple sources within posting deadlines, in compliance with state and federal regulations that govern payments processing.


•Prioritize, process and reconcile incoming and outgoing financial items from direct presentment banks, the Federal Reserve Bank (FRB), Navy Federal branches, Mail Remittance, ATM, eDeposits, or other sources for clearing
•Organize work according to item type (e.g. on-us, returned items, Savings Bonds etc.) to ensure adherence to established deadlines/guidelines
•Process, redeem, and reconcile checks, savings bonds, high dollar items, and on-us bank of first deposit items
•Perform data capture quality assurance via image capture devices, and apply appropriate corrective actions
•Identify, investigate and resolve discrepancies/processing problems to include documentation and time-sensitive issues
•Prepare and reconcile direct presentment balancing summary including cash letter totals, times of arrival, and adjustments (debited/credited)
•Balance incoming items and cash letters from presenting financial institutions
•Coordinate with internal business units (e.g. Savings and Checking Operations) to complete returned item processing to include preparing “Return Item Notification” for large dollar returns
•Collaborate with various internal and external contacts to verify, reconcile and resolve item and/or posting discrepancies
•Research and compile appropriate adjustment documentation (e.g., copies of checks, cash letters, check listings etc.); report findings and forward information to internal business units
•Coordinate with Federal Reserve Bank to resolve discrepancies for immediate debit and credit, and reconcile/correct rejected items and misread documents
•Generate and review end-of-day reports, balance and reconcile multiple check files with end-of-day posting; identify, research, and correct discrepancies for out-of-balance conditions for each source
•Maintain records of delivery items and quality control issues and communicates findings with the appropriate institutions
•Research and respond to inquiries related to check processing from  internal business units
•Ensure compliance with applicable regulations, guidelines and procedures
•Ensure check processing is in compliance with internal, state, and federal regulations
•Assist management and collaborates with internal and external contacts for testing related to enhancements, upgrades or new products/services 
•Monitor, review and maintain records of system and quality control issues; resolves and/or escalates to management or appropriate analytics staff
•Identify equipment software and hardware problems and performs routine maintenance; initiates services calls when applicable
•Assist with business continuity testing to include quarterly testing of Check Processing related systems at the Winchester Recovery Center
•Perform other duties as assigned


•Basic knowledge of the financial industry and accounting
•Experience in performing clerical or administrative duties/responsibilities
•Experience in using a calculator
•Basic skill exercising initiative and using good judgement to make sound decisions
•Ability to work independently and in a team environment
•Effective skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
•Familiarity with payment rules and regulations
•Familiarity with FRB rules, regulations and operating guidelines
•Exposure to working with diverse internal and external contacts
•Exposure to managing multiple priorities independently and/or in a team environment to achieve goals
•Exposure to working with all levels of staff, management, stakeholders, vendors
•Ability to handle multiple tasks simultaneously with a high degree of accuracy
•Exposure to working in a high volume, fast paced environment
•Basic skill interacting tactfully and effectively in difficult situations
•Basic organizational, planning and time management skills
•Basic research, analytical, and problem solving skills
•Basic use of PCs and related software packages
•Basic  verbal and written communication skills
•Desired – Familiarity of Navy Federal's functions, philosophy, operations and organizational objectives
•Desired – Familiarity with NFCU accounts

Hours: Monday - Friday, 7:30am - 3:30pm

Location: 141 Security Drive, Winchester, VA 22602

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


Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need.

Bank Secrecy Act

Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.