Job Description: Job Summary This position is responsible for providing operational and customer support of Wire Transfer services and use by Business customers, consumers and internal business units through various channels. This position will also handle operational and customer support of Business Automated Clearing House (ACH) origination and resolution of Retail ACH transactions adhering to regulatory and/or NACHA Rules. Additional responsibilities include support of Flagstar ACH origination files, performing International ACH Transaction (IAT) Office Of Foreign Asset Control (OFAC), file monitoring, return items, notification of changes, and proof of authorizations. The Payment Operations Specialist assists and/or is assigned specific duties for both incoming and outgoing (domestic and international) wires and exceptions. Daily scheduled rotating shifts (8:15 a.m.-5 p.m. and/or 9:30 a.m.-6:30 p.m.) determines the assignment of system starts up (beginning of day) and shut down (end of day) responsibilities.
Internal department contacts: Bank Branches, Solutions Center, Core Production Services, Treasury Management, Government Banking, Lending Areas, Office of the President, IT Security and Customer Engagement Center. External contacts: Consumer and business customers, 3rd party vendor representatives and Federal Reserve Bank representatives.
Monitors wire system and performs assigned tasks and functions including: validating system status of completed wires from previous day; performing wire end of day activities; resolving exception wires, service messages and transfers throughout the day; OFAC checks and validating phone wires.
Monitors, validates, balances and processes ACH files including: notice of changes, charge back of returns, setups, originations, and prefundings. Assures all exposure limits for all ACH originators are within limit. Gathers data and complies the daily ACH file monitoring and control logs. Performs daily OFAC process. Validates and confirms accuracy of ACH files, clears all requests for ACH proof of authorizations, adheres to ACH rules/deadlines, and monitors ACH file exceptions thru Federal Reserve (FED) ACH Risk monitoring service. Participates and assists with ACH audits and performs SOX testing. Resolution of all ACH disputes and RegE claims adhering to ACH Rules, RegE and timeframes.
Assists and/or resolves operational issues and questions with ACH and wire transfers. Contact departments, business units, branches for both incoming and outgoing wires that need to be repaired, accounts located, service messages identified and/or clarified. Accepts internal phone calls from various areas of the bank that originate and/or receive wire transfers or ACHs. Accepts external phone calls from other banks regarding status of received or sent wire transfers and from telephone wire service clients.
Accepts the receipt of Death Notice Entries (DNEs) and takes action to clear the transactions. Accepts, records and resolves all claims for reclamations from the US Treasury Department. Performs testing for system updates. Completes continued education and training to keep updated on banking and payments industry. Assists in additional job duties of Payment & Commercial Services team and cross trains to assist in Commercial Services area, as needed.
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
HS Diploma, GED or Foreign Equivalent required
3+ years of experience in the banking operations
1+ year of prior knowledge of payment operations (ACH & Wires)
Accredited ACH Professional (AAP) Certified (Preferred)
Federal Reserve program experience preferred
Strong knowledge of Treasury Management services
Intermediate understanding of MS Office Suite required; advanced understanding preferred
Willingness to work in a team environment
Excellent verbal and written communication skills
Good analytical and problem solving skills
The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting. Extensive periods of sitting