Corporate Accountant- Dues, Assessments & Settlement- Remote

Velera

11d • Remote

About The Position

Join the People Helping People Velera is the nation’s premier payments credit union service organization (CUSO) and an integrated fintech solutions provider. The company serves more than 4,000 financial institutions throughout North America, operating with velocity to help our clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Our purpose: We accelerate partners’ success through innovative financial technology solutions and inspired service. The Opportunity The Corporate Accountant – Dues, Assessments & Settlement will be responsible for analyzing complex information and ensure that Visa and MasterCard quarterly dues and assessments are accurately calculated and paid on behalf of our credit unions, ensure Velera credit unions are accurately billed for their Association charges and calculate the quarterly prefund assessments. This position is also responsible for ensuring the credit union financial data is reported accurately to the Associations.

Requirements

• Bachelor’s degree in finance/accounting required.
• 1 year of experience in accounting/finance, reconciliations, customer interfacing, and vendor correspondence required.

Responsibilities

• Facilitate, prepare, and administer the quarterly reporting of sales volume, merchant activity, transaction counts, and other required cardholder and program information for member credit unions to Visa and MasterCard, ensuring that all related policies and procedures are in compliance with Association best practices and operating regulations.
• Generate and analyze billing associated with quarterly reporting, reconcile discrepancies, and facilitate fee generation to member invoices for Visa, MasterCard, and network affiliations.
• Facilitate, analyze, and prepare integrated billing to our CU for ongoing Association fees including Visa monthly authorization billing, MasterCard daily billing and annual BIN licensing fees.
• Assist in reconciliation of the Visa and MasterCard payable account related to quarterly dues. Document open items and follow up to resolve with the vendor or through CU billing.
• Manage the company’s subscription to Kroll Bond Rating Agency Inc., ensuring our member owner credit unions database is properly maintained within vendor software.
• Analyze market risk prefund requirements and assessments for identified CUs, and report findings to Senior Leadership. As needed, report information to Account Executives for follow up.
• Manage all Letters of Credit for purposes of Market Risk Prefund collateral. Participate in annual audit concerning all aspects of Market Risk Prefund calculation and billing.
• Prepare and administer the Advanced Clearing Fund account, funding the two-day settlement process between Visa/MasterCard and Fiserv. Facilitate process in which each credit/debit program calculates assets required to fund Fiserv to process transactions on a daily basis.
• Process billing to members on a quarterly basis, and maintain and balance the general ledger quarterly.
• Maintain direct contact with credit union staff during the quarterly reporting phase and answer all pertinent questions related to reports. Participate in Association and outside audits.
• Support Finance department with Visa quarterly reporting and associated billing for Visa and MasterCard. Develop and implement accounting and reporting procedures to avoid charges being included in the allocation process for any shared BIN environment.
• Maintain direct credit union contact as it pertains to Automated Clearinghouse (ACH) activity between Associations and credit unions. Participate in annual audit concerning all aspects of Association pass-through billing.
• Maintain operational application within the corporate database to ensure accurate charter status, settlement method, quarterly reporting status, and business identifiers are recorded for reporting and billing.
• Maintain proper controls within corporate database to assure proper calculations are administered to operational pass-thru dollars pertaining to Association billing and prefund adjustments. Maintain accurate lookup tables to ensure proper billing to member invoices.
• Prepare and administer Visa and MasterCard monthly pass thru billing, including researching discrepancies and billing adjustments. Prepare and facilitate monthly cash and balance sheet reconciliations.
• Generate and analyze reports categorizing and determining which credit unions will receive prefund adjustments. Notify respective Service Center to initiate proactive communication to our member owners. Participate in annual audit related to Advanced Clearing Fund account.
• As needed, perform routine and non-routine analysis of financial data. Perform other duties as assigned.

Benefits

• Competitive wages
• Medical with telemedicine
• Dental and Vision
• Basic and Optional Life Insurance
• Paid Time Off (PTO)
• Maternity, Parental, Family Care Community Volunteer Time Off
• 12 Paid Holidays
• Company Paid Disability Insurance
• 401k (with employer match)
• Health Savings Accounts (HSA) with company provided contributions
• Flexible Spending Accounts (FSA)
• Supplemental Insurance
• Mental Health and Well-being: Employee Assistance Program (EAP)
• Tuition Reimbursement
• Wellness program
• Benefits are subject to generally applicable eligibility, waiting period, contribution, and other requirements and conditions

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level