Financial Service Representative, Check Returns

Palmetto Citizens Federal Credit Union•Columbia, SC

13d

About The Position

The Financial Service Representative (FSR) – Check Returns is responsible for overseeing the credit union’s returned check process, including the collection and resolution of returned checks, forgeries, and bond claims. This role works closely with law enforcement and other authorities to investigate and resolve fraudulent transactions and prepares and submits bond claims when necessary. Additionally, the FSR – Check Returns supports the electronic transfer of checks between the Federal Reserve and other financial institutions, ensuring efficient processing, transaction accuracy, and completion of any required research.

Requirements

High school diploma or equivalent required
2+ years of experience in financial services, banking, credit union operations, payment processing, deposit operations, or a related area.
Working knowledge of check processing procedures, return item processing, and fraud prevention practices.
Understanding of applicable regulations, including Regulation CC, UCC provisions related to checks, and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) requirements.
Ability to identify, investigate, and resolve discrepancies, fraud indicators, and operational exceptions.
Strong analytical, research, and problem-solving skills with the ability to make sound decisions.
Excellent attention to detail and organizational skills with a high degree of accuracy.
Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
Strong verbal and written communication skills with the ability to interact professionally with members, employees, law enforcement agencies, and external partners.
Proficiency in Microsoft Office applications, particularly Outlook, Word, and Excel.
Ability to maintain confidentiality and handle sensitive information with discretion.

Nice To Haves

Certification in Fraud or Compliance related area preferred.
Experience working with Federal Reserve regulations and check processing systems preferred.

Responsibilities

Manage the daily receipt, review, and processing of returned checks received through the Federal Reserve.
Conduct collection and resolution activities related to returned checks, alterations, forgeries, and other check exceptions.
Process Federal Reserve adjustments and complete required research to resolve discrepancies.
Serve as the primary backup for in-clearing check processing, ensuring timely, accurate, and secure handling in accordance with Federal Reserve requirements.
Monitor account activity for potential fraud and escalate suspicious activity in accordance with established procedures.
Prepare and process Suspicious Activity Reports (SARs) and collaborate with appropriate departments to investigate and mitigate fraud risks.
Complete affidavits and supporting documentation related to forgeries, alterations, and fraudulent transactions.
Prepare and submit bond claims and coordinate with law enforcement and other authorities, as needed, to support collections and fraud investigations.
Serve as a primary resource for members and branch associates regarding returned checks, transactions, and other department-supported services.
Research and resolve inquiries, exceptions, and operational issues in a professional, accurate, and timely manner.
Partner with internal departments to ensure effective communication and resolution of outstanding items.
Ensure compliance with Federal Reserve regulations, applicable laws, and internal policies and procedures.
Maintain accurate records, documentation, audit trails, and supporting files related to returned checks, claims, investigations, and transactions.
Perform quality control reviews and account balancing activities to ensure processing accuracy and timely correction of errors.
Maintain current knowledge of products, services, regulations, policies, and procedures relevant to assigned responsibilities.
Participate in cross-training initiatives to ensure operational continuity and department coverage.
Identify opportunities to improve processes, strengthen controls, and enhance operational efficiency.
Perform other duties as assigned, ensuring accountability and alignment with organizational objectives.