ACH Settlement and Reconciliation Specialist/Manager

Operations Management · Sioux Falls, South Dakota
Department Operations Management
Employment Type Full-Time

JOB DESCRIPTION

POSITION:                            ACH SETTLEMENT AND RECONCILITATION SPECIALIST/MANAGER

 

JOB SUMMARY:     

Responsible for the operation, maintenance and exception processing of the Automated Clearing House Processing System (ACHPS).  In addition, responsible for daily validation and reconciliation of funding settlements associated with Central Payments and its Partners.

 

REPORTS TO:            Director, Operations

 

WORK LOCATION:    Hybrid

    

 WORK SCHEDULE:     Standard business hours, Monday through Friday, with a willingness to monitor email and other systems during nonbusiness hours in case of a critical matter and able for additional hours that may be occasionally required in order to meet time- sensitive deliverables and deadlines.

 

TRAVEL:                      Some, Up to 4 times per year

 

CONTACT:                 Jen Miller, jmiller@central-payments.com 

 

ABOUT US:  Visit https://www.central-payments.com/our-story and    https://www.fallsfintech.com/              


Required Skills:

  • Bank ACH processing systems’ administrative and processing tasks performance; 
  • Understanding of Nacha Operating Rules and Guidelines, and other regulatory compliance as related to the ACH Network and processing of ACH transactions; 
  • Understanding of the funds flows associated with multi-party settlement of retail banking deposit account transactions; 
  • Knowledge of bank transaction processing systems; 
  • Bank account reconciliation knowledge; 
  • Excellent analytical and problem-solving skills; 
  • Proficiency with Microsoft Office applications (including Word, Excel, Access and PowerPoint); 
  • Proven ability to remain organized while constantly multi-tasking and reprioritizing daily workload.


    Education/Experience:

    • Three years of bank ACH systems management and deposit funding reconciliation experience required, with very recent experience in consumer payments a plus. 
    • Experience with ACHPS (an FIS/eFunds ACH processing solution) a plus. 
    • Specialist position requires at least an Associate’s Degree in accounting and finance, plus the employment experience described in #1 above. 
    • Manager position requires a Bachelor’s Degree in accounting, business administration or finance, plus the employment experience described in #1 above.

     

    Key Responsibilities Include:

      • Manage the ACHPS ACH processing system’s administrative and processing features including implementation, testing, and winddown functions; 
      • Perform all aspects of ACH processing system changes, to include risk limit updates and test scenario development/documentation; 
      • Perform the daily checklist of tasks to accomplish successful, timely processing of all production inbound and outbound daily ACH transactions; 
      • Performing validation of Federal Reserve Bank (FRB) account transactions pertaining to the settlement of ACH transactions to Partner funding accounts; and reconciling internal funds management accounts to which the related FRB transactions flow to/from, ensuring prompt follow up, research and escalation to supervisor of any un-reconcilable differences; 
      • Manage daily ACH exceptions to ensure timely responses and accurate resolution including unpostable ACH transaction monitoring, Risk limit violations, Requests for return, Proof of Authorization, Reclamations, and Written Statement of Unauthorized Debit (WSUD); 
      • Submit monthly reporting to management and other departments as well as conduct periodic analysis on Partner activity and trending patterns; 
      • Create and maintain procedures of all ACH related functions;

       

      • Assist internal departments and Partners with inquiries and troubleshooting, including education on Nacha Rules; 
      • Participate in project meetings and provide assistance to other CBKC managers or staff in the performance of their tasks as an ACH subject matter expert; 
      • Manage the annual ACH Audit and preparation of audit requirements; 
      • Recognize and propose efficiencies in business processes for Central Payments and Partners; and 
      • Participate in on-going ACH processing system use/administration and Nacha Rules

       

      Tips if we contact you for an interview:

      • NOTE: Due to health risks associated with COVID-19, suitable masks are required for any face-to-face contact with Central Payments staff, and we will happily accommodate a video interview if you prefer.
      • We highly recommend that you take time to visit our website at central-payments.com and our LinkedIn company page. There are informational videos and links to podcasts under the “Our Story” tab that help you understand our background.
      • To better understand the traits we look for when interviewing candidates please visit: “Is Central Payments a Fit for Me?” And what it means to “Be Essential.”
      • Central Payments’ primary business is establishing consumer deposit accounts, issuing incentive and rebate cards, and transferring/remitting funds via ACH and other means. Prepaid cards make up a sizable portion of our business. If you are not familiar with prepaid cards, we recommend that you purchase a Visa, MasterCard, or Discover-branded, general-purpose, reloadable prepaid card (not a gift card) at any retailer, load a small amount of money, register the account/activate the card, login to the account center online, and conduct transactions. While Central Payments will not issue the card you purchase, it will still help you understand the product in general, its features, and benefits.

      Thank You

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      • Location
        Sioux Falls, South Dakota
      • Department
        Operations Management
      • Employment Type
        Full-Time