Payment Operations Specialist

PenFed is hiring a hybrid Payment Operations Specialist at our Omaha, Nebraska Service Center. This role ensures accurate allocation and availability of checks and financial instruments after analysis for acceptance, fraud risk, and posting method, impacting future payments, investor agreements, and reporting. The position serves as the subject-matter expert on check acceptance, items processing, Federal Reserve files, funds availability, and UCC regulations and policies.

Responsibilities

• Analyze, distribute, or process checks, electronic files, and financial instruments while complying with Federal guidelines and PenFed policies.
• Detect and report potential fraud transactions, checks, and suspicious account activity to management for further investigation and compliance with the Bank Secrecy Act.
• Ensure all financial transactions, processing, and member responses are completed within dictated time frames as determined by PenFed, regulations, and the Federal Reserve Bank.
• Analyze exception and return items requiring specialized handling from multiple sources within posting deadlines, adhering to State, Federal, and governing body regulations.
• Analyze reports and transactions for anomalies such as large-dollar transactions.
• Research and resolve rejected items or transactions requiring additional information for proper posting.
• Reconcile transaction activity and balance all GLs, reporting, and FRB files daily.
• Research and resolve discrepancies for checks and other financial instruments; respond to members and internal departments (supporting CFPB, subpoenas, executive correspondence) within required time frames.
• Assist in compiling daily or monthly production reports as directed by management.
• Maintain familiarity with regulatory/compliance resources, including Reg B, Reg CC, Reg E, Reg J, Reg Z, UCC Articles 3 and 4, and other resources impacting deposit and payment processing.
• Ensure all member documents containing nonpublic personal information are secure and undisclosed in compliance with Regulation P of the Gramm-Leach-Bliley Act.
• Perform other duties as assigned by management.

Qualifications

• Equivalent combination of education and experience is considered; an Associate's degree is preferred.
• Minimum of three (3) years of experience processing financial instruments.
• Experience analyzing and reviewing fraud trends is preferred.
• Excellent oral and written communication skills.
• Ability to learn new computer programs and become proficient.
• Advanced working knowledge of Microsoft Office (Word, Excel, Access, and Visio).
• Knowledge of financial institution structure, products, policies, and regulations is preferred.
• Knowledge of PenFed products, policies, and procedures is desired.
• Ability to work effectively in ambiguous situations, multi-task, and meet deadlines.
• Experience using AI tools is preferred.

Work Environment

This role operates in an indoor office setting with moderate noise. Most roles require working in an office environment and the ability to lift 25 pounds. Ability to travel to various worksites and be on call may be required.

Pay

The anticipated starting hourly range for this role is $18.56 - $31.14. This position is eligible for an organizational performance-based annual bonus (subject to board discretion and approval) and an individual performance-based annual bonus.

Benefits

• Comprehensive health, dental, and vision plans.
• Paid time off and paid parental leave.
• Family-friendly benefits, including care support and fitness center access.
• Financial wellness support, including a 401(k) match and employee loan discounts.
• Fully paid life and disability coverage.
• Education assistance for professional growth.
• Community involvement and volunteer opportunities.