Credit Union of Colorado
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Payment Services Manager (73891)
at Credit Union of Colorado
General Purpose of the Position
This position is accountable for the management of an efficient, cost-effective operation of the Payment Services Department, which involves the following primary areas of responsibility: Electronic Payments, ACH activity, share draft activity, wire transfers, electronic submission of check deposits (Check 21), electronic bill payment processing, remittance processing, , mobile payments, electronic person to person payments, remote deposit capture, cash services, correspondent banking activities including relationships with Federal Reserve and Corporate Credit Unions, collection items and other related activities. This position will also be designated as the subject matter expert on current and emerging payment system issues. The Payment Services Manager is responsible for researching, recommending, developing, and implementing new and/or improved payment system channels and processes.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. May perform other duties as requested or assigned.
- Provides leadership through effective goal setting, delegation and communication for payment services activities
- Establishes the necessary policies and procedures and ensures they are followed
- Develops and manages budget for Payment Services Department
- Monitors and researches trends, technology and innovations in payment systems and provides recommendations for implementation
- Responsible for ACH activity including: policy, risk assessment, compliance, exception handling, and all associated processing
- Responsible for share draft activity including: core system enhancements, updates, repairs, and all associated processing
- Provides management oversight for all outgoing and incoming domestic and international wire transfers
- Responsible for balancing daily check deposit at Federal Reserve and resolution of differences
- Maintains professional expertise and understanding of applicable Federal Reserve regulations and ensures compliance with same
- Maintains professional expertise with applicable Federal Reserve systems, e.g., FedLine Advantage, and ensures full and correct utilization of same including: policy, compliance and risk assessment
- Acts as subject matter expert and liaison with the Federal Reserve regarding electronic services
- Acts as system administrator for various systems including: FedLine Advantage, FedWire and CorporateOne MemberView
- Responsible for accurate and timely settlement of related payment activities
- Establishes and maintains Business Continuity Plan for applicable services
- Responsible for Enterprise Risk Management assessment for areas of responsibility
- Tests and maintains backup systems. Provides support and direction to Payment Services Supervisor to ensure appropriate staff coverage and backup capabilities are established.
- Represents the department on related corporate projects
- Evaluates current systems, applications and procedures, and implements enhancements to improve efficiency and member service
- Maintains membership in appropriate EFT organizations
- Responsible for interviewing, hiring, coaching and training employees
- Responsible for performance management for assigned staff
- Responsible for timely complaint resolution
- Acts as subject matter expert providing assistance and guidance to all Management and staff regarding payment services
- Adhere to all Federal and State laws and regulations applicable to the credit union, including the Bank Secrecy Act and OFAC
- Responsible for compliance with the Fair and Accurate Credit Transaction Act (FACTA), the Bank Secrecy Act (BSA) and the Anti Money Laundering Act, including monitoring for such illegal activity as it applies to this position.
EDUCATION AND EXPERIENCE:
Minimum of an Associate degree in business. Bachelors’ degree in business (B.S.) from four-year college or university preferred. Certification as an Accredited ACH Professional (AAP) preferred. Seven to ten years of professional experience related to Payment Services with a financial institution. Minimum five years of Management experience with a financial institution.
OTHER SKILLS AND ABILITIES:
Technical knowledge of accounting concepts, practices, procedures, and financial reports. Understanding of related regulations, statutes, and filing requirements. Knowledge of Credit Union core computer system and other related computer applications, with emphasis in Microsoft products, including Microsoft Excel and Word. Ability to assist and supervise others. Proficient in 10-key and microcomputer operations. Ability to apply verbal and interpersonal skills that develop member confidence, respect and trust in Credit Union of Colorado and develop cooperative relationships with all levels of people throughout the organization. Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers and the general public. Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
Payment Services Supervisor
While performing the duties of this job, the employee is typically required to sit for long periods. The employee continually is required to talk or hear. The employee is occasionally required to stand, walk, stoop and reach with hands and arms. The employee will occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision and the ability to adjust focus. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Seeks and uses first-hand member information to improve products and services. Acts with the member in mind. Is never satisfied.
COOPERATION AND TEAMWORK
Can inspire and motivate entire units or organizations. Blends people into teams when needed and leverages individuals’ strengths. Willing to balance support for organizational initiatives over own department needs. Can be counted on to exceed goals successfully.
Conveys a sense of urgency for arriving at a decision, when appropriate. Has an opinion, takes a stand. Is able to build upon others’ ideas and facts to form a better decision.
Seeks opportunities for different and innovative approaches to addressing problems while prioritizing urgent issues. Brings issues to closure. Challenges and supports decisions of direct reports through coaching to the best outcome.
Overcomes procrastination through execution. Places a top priority on getting results.
Embraces and drives change. Assists others through transitioning to a new state. Is self-aware of areas of opportunity and strengths.
Creates an environment that encourages innovative solutions or improvements and fosters experimentation for the benefit of the members. Recognizes and rewards those who take initiative with new approaches and act in a creative manner. Assesses, manages and takes calculated risks to achieve goals. Constantly looks for ways to improve products, processes and infrastructure of the organization to enhance employee and member benefit. Stays abreast of current and future trends both in and outside of industry to forecast and build future business vision including on-going evaluation of future directions and associated risks.
Thinks/plans strategically. Understands the organization’s vision, mission, and goals and can articulate to others. Defines/owns vision/purpose and aligns ideas to inspire others to follow. Looks to the future and adjusts strategic actions and goals based on anticipated future state.
LEADING COURAGEOUSLY THROUGH VISION AND VALUES
Makes decisions and acts in ways consistent with our core values; demonstrates the courage to do what is right despite personal risk or discomfort. Challenges others to make tough choices. Communicates a compelling and inspired vision or sense of core purpose and makes the vision sharable by everyone.
MARKET KNOWLEDGE & COMPETITIVE MINDSET
Knows the basics of the market and business context. Aware of local and national competitors. Understands the similarities and differences of our business model to other financial institutions. Brings forth ideas to keep our business competitive.
Fosters an environment that encourages fiscal responsibility. Maintains and applies a general understanding of financial management principles to ensure decisions are fiscally sound and responsible. Prepares and manages the budget for area of responsibility. Uses cost-benefit thinking to align priorities. Identifies cost effective approaches. Brings forward any financial concerns to the attention of Senior Management.