Job Description

Job Description

Job Description

ob Title: Clearing Officer

Department: OP – Clearing

Classification: Exempt

Reports to: Assistant Clearing Manager

Summary/Objective: Performs various duties and responsibilities such as validation and authentication for all ACH files, handling posting exceptions, processing adjustments, and provide support and research when needed. To assist other Clearing Officer and Clearing Manager with various duties and responsibilities such as validation and authentication for all checks, posting exceptions, processing adjustments, and providing support and research to dispute items when needed. Back up to perform duties related to Bank’s money transfer and checks activities.

Essential Functions :

1. Be responsible for performing functions related to ACH transactions.
2. Be responsible for daily ACH origination procedures, including processing files from clients and internal systems, returns, reversals, rejects, death notification entries and reclamations.
3. Research requests and disputed ACH transactions. Balances ACH process daily.
4. Process daily ACH exception item, ACH stop payment and unauthorized claim request.
5. Notify affiliates of errors and exception.
6. Perform reconciliation of settlement and work-in progress accounts.
7. Process daily ACH origination procedures, including processing files from clients and intern systems, reversals, rejects, death notifications, reclamation returns and entries.
8. Maintain required reports and logs.
9. Responds to basic inquiries, OFAC inquiries and issues from customers and internal units.
10. Researching and responding to EFT and check related inquiries from all branches, department and management as needed.
11. Spot-check and perform preliminary research on suspicious items to help prevent fraudulent activities.
12. Daily balancing of all regions official checks, interest checks, and money orders from the (SCMSA) system.
13. Daily via-email the Central Log files and FED incoming (NSF) check files to all regions for reporting information.
14. Process daily DDA accounts and general ledgers as needed to offset entries for Accounting Department.
15. Post all branches outstanding balances of overage/shortage to the correct corresponding gene ledger accounts.
16. Balance all in clearing and outgoing checks against the FED statement report, and balance against the totals with (FOVA) system for completion.
17. Responsible for processing/copy Federal Reserve Bank electronic presentation files for ACH FED Advantage and check reports.
18. Daily review and monthly balancing of ATM settlement account and posting offset entries to DDA accounts and general ledgers as needed.
19. Send Federal Reserve cash letter sheet via-email to all regions daily.
20. Reconcile unresolved checks and ACH’s outstanding amounts to account receivable/account payable general Ledgers as needed.
21. Safeguard Federal Reserve (Token) and all daily work.
22. Back up to perform duties related to the Bank’s money transfer activities
23. Back up to process incoming and outgoing large dollar return item notifications.
24. Back up to perform processing, validations and or distribution for return deposit items, and other functions.
25. Back up to review for check troubleshoots, locate errors and make appropriate adjustments a correction to deposit transaction according to the customer and or Fed for resolution.
26. Back up to identify deposit item processing corrections and forward information as needed t each branch.
27. Back up to download incoming cash letters from Federal Reserve.
28. Back up to Research and adjust cash letter correspondence, as needed.
29. Perform other duties as assigned.

Required Education and Experience:

• Bachelor's degree (B. A. or B. S.) from four-year college or university. Three to five years of related experience and/or training.
• Knowledge of payments industry
• Must have good communications, customer service and PC skills.
• Ability to meet deadlines and resolve issues with assistance/direction.
• Background experience in bank operations and ACH and check processing.
• Knowledge of general ledgers, bank reconciliation and data entry.
• Equivalent combination of education and experience.

Language/Communication Skills:

• • Language Skills: Bilingual in English and Chinese preferred, able to read and write simple Chinese correspondence and memos to support and communicate with our global branches.
• • Communication: Write basic reports in Chinese and speak clearly in English with coworkers.

Job Tags

Internship

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