Head Payments Manager Job at Wright-Patt Credit Union Inc.
The role is responsible for the strategy, ongoing enhancement and day-to-day direction of the credit union’s high-risk and critical daily operations of ACH, Wire, Real Time Payments, Share Draft Programs, Child Support Program Management, Return Deposited Items and third party company payroll postings. This role is responsible for strategic and tactical planning, managing operating controls, ensuring regulatory requirements are met, evolving with industry standards as they change, and risk and fraud management activities related to the Payment Systems organization. As a manager, this role is responsible for overall department management, including establishing goals, adhering to financial budget, executing departmental objectives and strategic projects, hiring and developing staff, and managing critical third-party vendor relationships.
- Oversees all operations of the Payment Systems department. (50%)
- Serves as the enterprise point of contact (PoC) for the organization and the subject matter expert on ACH, wires, real-time payments, share drafts, return deposited items, electronic transaction processing systems, vendor relationships, and the overall competitive landscape.
- Optimizes electronic funds processing capabilities and ensures system uptime of all electronic payment services for the Credit Union.
- Manages day-to-day ACH, Wire and Share Draft processing to ensure data accuracy and increase adoptions levels for each respective program.
- Maintains knowledge of different types of payment systems and fraud management techniques to help monitor and minimize potential losses.
- Builds, directs, recommends, and implements electronic funds product enhancements to drive business growth and meet organizational goals and needs.
- Coordinates with the Marketing Department on “Go-to Market” strategies and implementations.
- Conducts regular reviews of market trends and competitor analysis to identify product improvement opportunities.
- Provides insights and develops strategies to expand capabilities, increase revenue, enhance the member experience, and reduce operational risks.
- Maintains a strong internal control environment and monitors the processes and procedures for the high risk and critical functions related to ACH, wire and share draft transactions; Provides input over controls and monitors activity through monthly quality control checks.
- Works with internal and external auditors to complete regular reviews of payment operations and controls; Address gaps and close issues per agreed upon target dates.
- Assesses risk within the business unit and identifies emerging trends and gap analysis; Escalates results and findings from risk assessments to the Director of Payment Operations and Senior Leadership.
- Proposes new and implements changes to existing management practices, policies, and procedures.
- Ensure the resolution of all returned deposit items, hand payroll, and account maintenance in regard to the credit union dormant account process.
- Ensure proper resolution of loan adjustments and interest calculation audit
- Maintains knowledge over all daily operations to include the review of risk mitigation activities to limit loss for the credit union and its member and fraud to provide recommendations to minimize losses.
- Maintains a strong internal control environment and monitors with strict adherence to internal policies, procedures, practices, and regulatory requirements for all daily
- Proposes and implements changes to related management practices, policies and
- Fosters a strong working partnership with various Line of Business leaders including, but not limited to, Accounting, Compliance, Consumer Lending, Enterprise Risk Management, Fraud, Internal Audit, Information Technology, Information Security, Marketing, Member Business Services, and Retail Services. (10%)
- Develops staffing plans, operating budgets, business cases for approved initiatives, and key performance indicators (KPIs) used in managing Payment Systems. (10%)
- Monitors progress, processes and results and is accountable for executing business plans and achieving desired results.
- Management of multiple payment channels to ensure performance is competitive based upon dynamics and trends, member participation, behavior, and transaction patterns.
- Provides oversight and ongoing support for talent management in assigned area by providing one on one coaching and guidance to Partners to enable them to achieve extraordinary performance. Hires, supervises, coaches, develops, and regularly reviews the performance of direct reports. (10%)
- Oversees critical vendor relationships related to area of responsibility. (10%)
- Reviews and participates in negotiation of vendor contracts with wire services.
- Assures vendors comply with regulatory compliance where applicable.
- Ensures vendors meet/exceed contracted service level agreements.
- Coordinates with Vendor Management team to complete annual vendor reviews.
- Maintains current industry knowledge of critical regulations and key innovations. (10%)
- Regulation E (Electronic Funds Transfer Act)
- NACHA Rules
- Industry best practices to facilitate transformational changes within electronic payments and deliver innovative services for all credit union stakeholders.
Required Skills
The Payment Systems Manager must possess a high degree of working and technical knowledge in the areas of electronic transactions, regulatory compliance, and problem-solving skills. The following are also required:
- A Bachelor’s Degree in Business, Accounting, or other similar field of study is preferred; Candidates with seven (7) or more years of work experience with increasing levels of responsibility will be considered in lieu of degree.
- Certified AAP (ACH Accredited Professional) preferred. Must be attained within two years of attaining Must maintain certification as an Accredited ACH Professional (AAP) via third party ACH vendor.
- Three (3) years leadership or supervisory experience is desired; Preference will be given to candidates who have managed a team of ten (10) or more people.
- Three years (3) experience in a banking operations or customer service environment required.
- Prior experience leading projects or being part of large, multi-year programs is desired.
- Proven experience working with 3rd party vendor support teams and outside contractors.
- Demonstrated ability to analyze, reason, problem solve, and prioritize work independently.
- Four years (4) experience with ACH, wires, share drafts, and customer service.
- Proven experience researching, developing, and implementing process improvements and optimizing operational workflows.
- Demonstrate ability to learn, apply and adhere to regulations, laws, policies, and management practices, especially as they pertain to disputes, inquiries, and adjustments.
- Ability to build consensus, establish trust, communicate effectively, and foster culture change.
- Effective oral and written communication skills.
- Effective people management and leadership capabilities.
- Initiative and ingenuity to plan, develop and implement goals and objectives.
- Ability to manage multiple tasks at once.
- Ability to learn complex business applications and apply them to the operational processes.
- Demonstrated working knowledge with Microsoft Office Products.
Required Experience
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