Overview
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. Process moderately complex transactions and exceptions. Research, resolve, balance, and reconcile basic to moderately complex adjustments received via the Federal Reserve Bank (FRB), financial institutions and business units in compliance with federal, state and internal organizational procedures. Receive incoming check files from other financial institutions and post funds in compliance with regulations and company policies. Adhere to internal controls to minimize risk and prevent losses. Support branch, division and Navy Federal's goals and objectives. Work under minimal supervision and may receive direction and guidance on work priorities.
Responsibilities
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
Make pay/no pay decision for corporate check items
Reconcile general ledger for proper recordation and processing of escheated items to ensure compliance with state and federal regulations
Make payment decisions on negotiable instruments that require special handling, e.g. stop payments, cancelations, voids, duplicate paid drafts, and escheatment
Organize work according to item type (e.g. on-us, returned items, Savings Bonds etc.) to ensure adherence to established deadlines/guidelines
Initiate Check Adjustment and correspond with the FRB via an automated system to resolve incorrect payment amount, duplicate or false presentments
Research and investigate escalated problems involving member and corporate check transaction; processes corrections to exceptions transactions
Review status of outstanding transaction and initiate corrective action for transactions
Review transactions flagged as fraudulent or suspicious; determine risk level based on OFAC regulations and complete appropriate documentation; escalate confirmed fraudulent or suspicious transactions to Security
Remain current on industry rules and regulations governing checks and other financial transactions
Perform on-going quality control to ensure efficiency and accuracy of processes and procedures
Perform end of day balancing for Incoming and Outgoing Check transaction
Obtains and prepares additional documentation for check adjustments to be provided to internal business units, financial institutions and the FRB
Respond to general requests from members, internal business units, FRB and financial institutions
Maintain a general awareness of FRB rules, regulations and operating guidelines
Adheres to internal controls and procedures to minimize risks and prevent losses
Support projects and initiatives within the business unit and/or across the organization
Mentor and guide level I team members
Perform other duties as assigned
Qualifications
Working knowledge of accounting reconciliations and principles
Experience in processing incoming and outgoing checks transactions
Experience in processing incoming Check Adjustment, Corporate transactions and
Reconcile General ledgers
Working knowledge with industry rules and regulations governing checks and other financial transactions
Effective skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
Working Knowledge with payment rules and regulations
Working knowledge with FRB rules, regulations and operating guidelines
Ability to handle multiple tasks simultaneously with a high degree of accuracy
Experience in working in a high volume, fast paced environment
Effective in the use of PCs and related software packages
Exposure to leading, guiding and mentoring others
Effective skill exercising initiative and using good judgment to make sound decisions
Effective skill interacting tactfully and effectively in difficult situations
Effective research, analytical, and problem solving skills
Effective verbal and written communication skills
Desired Qualifications
Familiarity with NFCU credit/debit card products, services, processes, procedures and related dispute/fraud
Familiarity with of Navy Federal's functions, philosophy, operations and organizational objective
Hours: Monday - Friday, 12:30PM - 9:00PM
Location: 820 Follin Ln. Vienna, Virginia 22180
About Us
You have goals, dreams, hobbies, and things you're passionate about-what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family, and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:
- Military Times 2022 Best for Vets Employers
- WayUp Top 100 Internship Programs
- ForbesR 2022 The Best Employers for New Grads
- Fortune Best Workplaces for Women
- Fortune 100 Best Companies to Work ForR
- ComputerworldR Best Places to Work in IT
- Ripplematch Campus Forward Award - Excellence in Early Career Hiring
- Fortune Best Place to Work for Financial and Insurance Services
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 EOE/AA/M/F/Veteran/Disability
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
REQNUMBER: 19544
