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ACH Compliance Specialist

Company: Valley Bank
Location: Wayne
Posted on: May 14, 2022

Job Description:

The ACH Compliance Specialist is responsible to complete the daily operating functions of the ACH/Lockbox Compliance Team in accordance with NACHA regulations and guidance adhering to mandatory timelines. ACH Compliance Specialist will ensure all daily tasks are completed. This individual is responsible to complete complex functions related to ACH Compliance and Risk, file processing, transaction posting, adjustments, research and maintains documents, including but not limited to ACH Inbox, Smart Search, Iron Mountain, Statistical Spreadsheets, Metrics, Reporting and Audit Research. Alternate Shifts and Cross Train on all ACHLockbox daily functions as well as work hand in hand with Supervisor.
Responsibilities include, but are not limited to:

  • Specializes in ACH Compliance ensuring proper file delivery and accurate processing with Third Party Senders, as well as all Originators, who are affected by NACHA time restraints, yearly audits and documentation reviews. Assist Supervisor with Third Party Sender activity, as well as all Originators, including but not limited to extensive analyzing of return ratios, yearly audit compliance with regulations, control systems and properly completed internal documentation as well as review of all customer documentation utilized to conduct ACH activity.
  • Ensure compliance with all regulatory requirements related to ACH / NACHA as well as Federal -- internal and external. Conduct remediation plan meetings originators to ensure compliance with the rules and third-party audits.
  • Cross train on all ACH Processing functions to ensure coverages of ACH Team. Assist with the ACH Compliance and Risk platforms, ensuring policies and procedures comply with regulatory standard.
  • Enhance ACH quality and customer satisfaction, minimize risk and loss, improve operational efficiencies and assist in reducing legal liability. Assist specialist's personnel as it pertains to the functions of any ACH/Locbkox related inquire ensuring a timely, clear and concise response. Includes monitoring of group mailboxes assigned.
  • Ensure accurate operating procedures are in place and conform to the standard rules and regulations -- internal and external.
  • Protect the Integrity and Security of all ACH transactions and data making, ensures due diligence of Originators byassisting with periodic reviews, assist with reviewing existing ACH contracts and documents for compliance with NACHA regulations and any needed addendums to accommodate rule changes.
  • Verifies departments risk management program encompasses the complexity of the bank's activities and the ongoing compliance relative to all ACH activity, verifies Onboard to ACH applications / checklists/ returns /change/Third Party Senders.
  • Participates with the coordination of system upgrade testing, expansion of services, data conversions and business continuity testing. Work on special projects, including bank conversions, as specified by department management.

Keywords: Valley Bank, Wayne , ACH Compliance Specialist, Other , Wayne, New Jersey

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