AVP, ACH & Item Processing Operations

The AVP, ACH & Item Processing is responsible for overseeing and coordinating the operations of two critical departments:  ACH and Item Processing (Payments). This role ensures that Tower Federal Credit Union effectively serves its members and lines of business by addressing inquiries, handling tasks, and managing projects. The AVP also ensures compliance with various regulations, including State and Federal laws, privacy guidelines, multiple network regulations (such as Reg CC, Reg E, UCC, and Reg D), NACHA (National Automated Clearing House Association) guidelines, Zelle EWS Participation Rules, and instant payment operations through the real-time payment networks.

This position is responsible for the timely handling, accurate accounting, and balancing of designated networks, ensuring the performance of operational procedures and overseeing general ledger accounts to support efficient production workflow. This position is responsible for identifying discrepancies in the output of Fiserv’s Frontier application related to ACH and check processing. Responsible for analyzing historical and future trends to prepare the annual budget, monitoring, documenting and mitigating variances.    

Manage and coordinate the utilization of Tower’s ACH, Item Processing and real-time payment products to deliver effective services to Tower Federal Credit Union members. This includes overseeing real-time and batch transaction processing through the Federal Reserve Bank, Fiserv NOW Network, Vertifi RDC, TCM& SCO Check 21, and Zelle Network and EWS Participating Rules.

Provide support to internal lines of business (LOBs) in areas such as operations, settlement, reconciliation, and project management related ACH and payment services. Based on Accounting reconciliation of the Federal Reserve General Ledger, differences are identified related to ACH and check processing. Maintain and balance designated networks and general ledger accounts.

Manage relationships with external partners and administer various payment platforms to ensure member satisfaction and service delivery to Tower. This includes:

·         Automated scheduler software for processing ACH and check files.

·         Administration of three Zelle platforms (Compass, Client Central, and the Dispute Portal.

·         Co-Administration of two Check21 platforms (TCM and SCO).

·         Co-administration of the ITM platform (TG Server).

In addition, this position collaborates with IT for testing day-to-day processes, ensuring effective 3rd party software upgrades/releases and other department-related functions.

Ensure compliance with all relevant regulations and maintain due diligence procedures to guarantee accurate and timely ACH clearing, check processing, and handling of reclamation of U.S. Department of the Treasury. Oversees dispute processing for ACH, check processing, and Zelle payments. While maintaining the Federal Reserve ACH and Check processing schedule. In addition, maintain and periodically test the Business Contingency Plan for the ACH & Item Processing (Payments) unit, supporting Tower’s overall business continuity plan.

Proactively manage ACH and payment services to ensure proper check clearing and ACH postings to members’ and general ledger accounts. Ensure that check images are digitally captured and accessible through digital banking and stored for appropriate record retention period. Participate in the research, development and execution of Tower’s payment strategy.

Analyze past and projected trends for budget preparation. Monitor the budget periodically, documenting and addressing variances to ensure financial alignment with Tower’s objectives.

Manages the ACH & Item Processing department, coaching, mentoring, evaluating and supporting career development of the members of the team.

Bachelor's degree and a minimum of 5 years progressively responsible operations experience

Minimum of 5 years supervisory/management experience in a financial institution –wide policies and procedures and responsible area.

Or combination of education and work experience, to include 5 years of operations experience

Accredited ACH Professional (AAP) required and preferred upon hiring.  If incumbent does not have certification upon hire, they have 36 months from date of hire to obtain the certification. 

National Check Professional and/or Payment Professional Certification (FFP) preferred, but not required

At time of hire must be able to effectively demonstrate a knowledge of payment processing and the rules and regulations that are applicable including Federal Reserve operating procedures and circulars, the NACHA ACH rules, including the Greenbook, UCC in relation to check processing and return handling, Regulation CC as it applies to funds availability, Regulation E as it applies to dispute management, Regulation D, EWS Zelle Participation Rules, rules as they apply to RDC including privacy policy and being PCI compliant, and others rules as they apply to future payment types.  Basic knowledge around collections and handling charge offs.

Proficiency in the use of standard Microsoft Office applications including Word, Excel, PowerPoint and Visio with proven ability to efficiently enter, sort and extract data to understand the application of the information and interpret for other uses derived from data base systems.

Requires independent decision-making and extensive knowledge of ACH, check and payment processing, as well as accounting, technical knowledge of core banking system and 3^rd party applications.

Ability to document processes and workflows, develop reports, business correspondence, and procedures for a diverse audience using common tools such as Visio, and other MS Office products.

Ability to present ideas\concepts and interact effectively with technical and non-technical users at all organization levels, including statistical reporting.

Deep knowledge of payment processing, including ACH processes, check processing, instant payments, and charge off processing, with an understanding of files, deadline requirements, dispute management, and handling deceased payments within industry standards and practices.

Strong foundation in balancing for settlement of processes, and reconciliation of main general ledger.  Ability to accurately apply accounting rules and procedures, reconcile, and balance transaction records and settlement, and assist in locating discrepancies in the reconciliation of the Fed account.

Must be proficient in core applications and inter-related systems required to support products within both departments.  This includes technical knowledge around batch processes, notices, and reports, as well as parameters, in the core system and their functionality.

Ability to independently serve as a Deposit Services resource for more complex system related issues and troubleshooting.  Ability to research and analyze various types of information sources, reach reasonable conclusions, and take appropriate actions independently.

Ability to develop, edit, update and interpret functional procedures for a diverse audience with an exceptional ability to define problems, collect data, establish facts and draw valid conclusions independently and to develop solutions for problems with abstract variables in ambiguous or novel situations without regular management oversight.

Ability to interact directly with employees, vendors, and members with tact, sensitivity, respect, and confidence in one-on-one situations or group settings reflecting a self-confident, articulate and professional demeanor.

Proficiency to present information, respond to questions from a diverse group of employees and/or Supervisors, AVPs and vendors at various organizational levels to influence opinions and/or build a basis for decision making as well as champion the correct resolution for all stakeholders when needed.

Proficient ability to effectively plan, prioritize and manage multiple and diverse tasks to meet established deadlines and quality standards with minimal direction to accommodate competing deadlines that continually change with a high degree of accuracy and attention to detail.

Ability to allocate and manage resources effectively, within budget parameters as well as develop, manage, document and proactively resolve budget variances.

Ability to develop action plans and organize workload, of self and others, to accommodate competing deadlines and projects under stress with appropriate emotional intelligence.

Ability to give objective and constructive feedback effectively, as well as receive feedback and provide suggestions for enhanced communications to facilitate group discussion and gain consensus.

Ability to effectively negotiate on behalf of the organization and maintain contracts per Purchasing Contract Review Policy.

Ability to initiate and follow through with Individual Development Plans (IDP) for assigned staff, and serve as a coach, evaluator and mentor for increased performance and growth.

Ability to maintain sensitive and confidential information

Has knowledge of and adheres to credit union policies and procedures and all regulations related to the bank Secrecy Act, the USA Patriot Act and OFAC.

Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate.

Ability to lift up to 15 lbs, with or without assistance, in compliance with ADA.

Office environment with phone interaction both internally as well as externally with members.