Payment Operations Analyst

Varo Bank•Charlotte, NC

About The Position

Varo is an all-digital, mission-driven, FDIC-insured bank. The Operations Team supports customer service across digital, voice, and social channels and supports Varo banking features, including deposit and savings accounts, account aggregation, and lending products. The Move Money team is building and improving payment operations as part of Varo’s banking services. The Payment Operations Analyst manages Varo Bank’s primary payment channels and develops, implements, and manages scalable operational solutions. The role focuses on timely and accurate account records through monitoring and reconciling monetary transactions, and identifying and resolving transaction-related customer issues.

Requirements

Five or more years of experience in financial services, in payment processing (ACH, wires, or card) 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 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 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 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.