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Job Description
Overview
To control specialized, time sensitive, and highly regulated Check operations. Ensure incoming and outgoing check transactions are completed in a secure environment and comply with laws, regulations, industry standards, and Navy Federal policies. Serve as subject matter expert and resource on matters related to Corporate Checks and Check Adjustments. Supervise and control the day-to-day operations of reconciling and editing the disbursement of all corporate drafts from various accounts. Monitors the reconciling and editing of financial data processed through the Service Management System (SMS).Maintain thorough knowledge of Regulation CC, Regulation D, UCC article 3 & 4, NCUA regulations, industry practices, and Navy Federal policies and procedures that govern checks. Collaborate with internal partners and external organizations to identify, investigate, and mitigate check fraud.
Responsibilities
- Establish and ensure that section objectives, production goals, and standards, and strategies are implemented and achieved to support the credit union’s check system
- Develop and foster synergy and level of expertise for corporate and member checks to include accurate formatting and transmittal of electronic files for posting
- Manages the process of compiling research and adjustment documentation, creation of lost item deposits for branch offices, authorizes check disbursements to financial institutions
- Establish, implement, and monitor operating procedures to minimize fraud and to ensure the security, integrity, and control of outgoing and incoming checks; develops procedures to remain in compliance
- Plan, manage, and supervise the processing and reconciliation of outgoing and incoming check payments
- Manage and reconcile general ledgers and reconcile information in Navy Federal systems with information in external organizations’ systems (e.g., Federal Reserve)
- Work closely with the Manager to develop strategies and initiatives for meeting the Service Level Agreements for Savings & Membership, EVLC, Mortgage and front line employee transactions
- Supervises and reviews the tracking, reconciling, and timely reporting of corporate checks/drafts, Mortgage Investor Accounts and , from issuance to disbursal, and collaborates with other business units to ensure payment or return of checks/drafts
- Approves reconciliations and ensures required documentation and reports for external and internal contacts are provided and distributed in a timely manner
- Work with Navy Federal attorneys to seek guidance and to ensure compliance with complex Regulation CC, Regulation D, UCC article 3 & 4, NCUA regulations, procedures, and practices
- Collaborate with Security and General Counsel in reviewing documents and notifying members regarding sensitive issues (Check errors, and Fraudulent presentments)
- Research, investigate, and resolve check issues escalated by members, payees, Consumer Finance Protection Bureau, and other financial institutions
- Serve as main point of contact for audits conducted by Internal Audit, NCUA, or other third-party auditor; reviews audit findings and provides feedback to management; implement resulting changes
- Compile statistical data; identify and analyze trends; ensure that work quality, work methods, procedures, processes, and production statistics meet business goals and standards of member service
- Maintain disaster recovery plan procedures and manuals up-to-date and manage the disaster recovery plan to ensure uninterrupted wire service
- Lead or participate on special projects and act as Manager in incumbent’s absence
- Create or revise informational materials, brochures, and forms related Check payments and electronic payments
- Guide the development and design of new automated systems or changes to current systems
- Perform other related duties as assigned
Qualifications
- Expert knowledge of Checks compliance policies, processes, and procedures
- Ability to manage operations effectively, work independently, exercise initiative and good judgment, effectively prioritize multiple tasks, and make sound decisions in an independent manner
- Expert knowledge of Federal, NCUA, and industry regulations related to electronic payments, particularly wires
- Ability to comprehend, analyze, interpret, communicate and apply government and financial industry regulations related principles and practices, and company instructions, procedures and policies
- Ability to comprehend, analyze, apply, and communicate complex written material
- Experience in supervising and leading employees
- National Check Professional (NCP) Certification, or ability to obtain certification within the normally accepted timeframe
- Advanced skill performing mathematical calculations and working accurately with numbers
- Advanced organizational, planning and time management skills
- Advanced verbal and written communication skills
- Effective skill interacting with staff, management, vendors and members diplomatically and tactfully
- Advanced skill to influence, negotiate and persuade to reach agreeable exchange and positive outcomes
- Advanced skill to successfully influence, lead and/or guide others towards goals
- Advanced planning, analytical, organizational, problem solving, and decision making skills
- Effective skill in the use of PCs and related software packages
- Bachelor’s degree in Finance, Marketing, Economics, Business, or related field or the equivalent combination of education, training, and/or experience
Desired Qualifications
- Advanced knowledge of on-line transfer of securities and/or deposits operations
- Advanced knowledge of Federal, NCUA, and industry rules and regulations related to electronic payments, particularly wires
- Working knowledge of Navy Federal’s functions, philosophy, operations and organizational objectives
- Working knowledge of the financial services environment and familiarity with Navy Federal’s objectives, functions, and services
Hours: Monday – Friday, 8:00AM – 4:30PM
Location: 820 Follin Ln, Vienna, VA 22180 | 5550 Heritage Oaks Dr, Pensacola, FL 32526
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
* Forbes 2022 The Best Employers for New Grads
* Fortune Best Workplaces for Women
* Fortune 100 Best Companies to Work For
* Computerworld 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.
