Payment Operations Analyst

Varo Bank•Salt Lake City, UT

About The Position

As a Payment Operations Analyst, you will manage Varo Bank’s primary payment channels and develop, implement, and manage scalable operational solutions. The role focuses on timely and accurate record keeping for bank accounts through monitoring and reconciling monetary transactions, and identifying and resolving transaction-related customer issues. The analyst works with ACH activity, wire transfers, vendor partners, correspondent banks, cash positions, and payment risk. The role also supports testing for changes to customer-account processes and the Core Banking system, helps onboard and mentor teammates, reviews work performed by contractors and offshore teams, and provides second-level support to colleagues across Varo.

Requirements

Five or more years of experience in financial services, in payment processing (ACH, wires, or cards) and/or treasury management functions.
Extensive knowledge and understanding of bank policies, procedures, products, regulations, compliance (including Reg E), and payment types.
Detail-oriented, with strong organizational and implementation skills.
Ability to adapt to a fast-paced environment and rapid changes.
Ability to multitask and handle unexpected delays or events while maintaining attention to detail.
Ability to work well independently.
Ability to resolve problems and improve processes quickly, effectively, and professionally.
Ability to maintain the highest level of confidentiality regarding information about the bank, its customers, and employees.
Bachelor’s degree or equivalent experience in a treasury operations environment.

Nice To Haves

AAP or CTP certification.

Responsibilities

Monitor ACH file origination, receipt, processing, and reconciliation.
Ensure accurate and timely posting to internal accounts.
Validate and balance ACH postings to the Federal Reserve account.
Process, screen, and reconcile incoming and outgoing wire transfers.
Process and reconcile activity with multiple vendor partners and correspondent banks.
Monitor cash balances and reconcile each day's cash position.
Provide ad hoc reporting and analysis, and monitor ACH risk.
Notify other financial institutions, third-party service providers, and internal departments in writing or verbally to correct or reverse entries.
Establish and maintain files to ensure proper handling and limit bank liability.
Partner with Varo teams to test customer accounts and related processes affected by system enhancements, upgrades, or updates with the Core Banking system.
Assist the Manager with onboarding, training, and mentoring teammates.
Assist in reviewing and approving ACH entries and wire transfers.
Review and approve work completed by contractors and offshore teams.
Provide second-level support to teammates and other Varo teams by researching and answering questions.
Perform other duties as assigned.