Navy Federal Credit Union - Vienna, VA
posted 4 months ago
The Check Operations Specialist II position at Navy Federal Credit Union involves validating and processing checks and financial instruments received from various sources while adhering to strict posting deadlines and compliance with state and federal regulations governing payment processing. This role requires the processing of moderately complex transactions and exceptions, as well as the research, resolution, balancing, and reconciliation of basic to moderately complex adjustments received from the Federal Reserve Bank (FRB), financial institutions, and internal business units. The specialist will be responsible for receiving incoming check files from other financial institutions and posting funds in accordance with regulations and company policies. A key aspect of this role is to maintain internal controls to minimize risk and prevent losses while supporting the goals and objectives of the branch and division, as well as Navy Federal as a whole. The position operates under minimal supervision, with the possibility of receiving guidance on work priorities. In this role, the specialist will prioritize, process, and reconcile incoming and outgoing financial items from various sources, including direct presentment banks, the FRB, Navy Federal branches, Mail Remittance, ATMs, and eDeposits. They will be tasked with making pay/no pay decisions for corporate check items and reconciling the general ledger to ensure compliance with state and federal regulations. The specialist will also handle negotiable instruments that require special attention, such as stop payments, cancellations, voids, duplicate paid drafts, and escheatment. Organizing work according to item type is essential to ensure adherence to established deadlines and guidelines. Additionally, the specialist will initiate check adjustments and correspond with the FRB to resolve issues related to incorrect payment amounts or duplicate presentments. They will research and investigate escalated problems involving member and corporate check transactions, process corrections to exceptions, and review the status of outstanding transactions to initiate corrective actions. The role also involves reviewing transactions flagged as fraudulent or suspicious, determining risk levels based on OFAC regulations, and escalating confirmed fraudulent transactions to Security. Continuous quality control is necessary to ensure the efficiency and accuracy of processes and procedures, and the specialist will perform end-of-day balancing for incoming and outgoing check transactions. They will also prepare additional documentation for check adjustments to be provided to internal business units, financial institutions, and the FRB, while responding to general requests from members and other stakeholders. Overall, the Check Operations Specialist II plays a crucial role in maintaining compliance, minimizing risks, and supporting the operational goals of Navy Federal Credit Union.