Payments Settlement Reconciliation Specialist

SWBC

  • San Antonio, TX
  • Permanent
  • Full-time
  • 20 days ago
SWIVEL is seeking a talented individual to monitor and reconcile the flow of funds of ECM transactions, as well as proof out all adjustments due to credit union members, clients and SWBC accounts; tracks all ACH transactions from inception to settlement and subsequent reversals and adjustments; processes and authorizes member/client adjustments as needed; works with the Swivel Client Support team with client inquiries and client migrations; and works with Treasury and Accounting management for approval to authorize large transactions that may not meet normal transaction set up procedures.Why you'll love this role:In this role, you will monitor and reconcile ACH and card payment transactions and process adjustments. You will also have an opportunity to participate in special projects related to process improvements and client migrations. Please bring your strong analytical skills and attention to details, experience sourcing reports from various systems and work with data to identify any variances at the company and client level while working with your client support team to resolve any issues. At SWIVEL, we value and encourage team members to share ideas and develop both professionally and personally.Essential duties include the following:
  • Performs daily reconciliation of bank accounts for Wells Fargo and Chase, including ACH transactions and card transactions for Payments and collections.
  • Reconciles daily card transactions, collaborates with the support team to resolve out-of-balance issues and ensures proper posting to the ledger.
  • Reconciles Daily Summary Reports by comparing settlement transaction information to the sub-ledger for each client.
  • Researches and corrects out-of-balance items and/or records.
  • Researches any recognized imbalance between the bank and the general ledger activity and corrects as needed posting the activity to the ledger.
  • Processes and resolves outstanding transactions while following up on previous requests with teams such as Support, Product and Developers.
  • Completes month-end reconciliations for the liability ledger accounts.
  • Prepares the restricted cash reclassification at month-end to ensure sufficient funds for client obligations.
  • Allocates the cost of sales at the client level, ensuring accurate reflection based on transaction volume.
  • Request partner payments based on calculations provided by the revenue team.
  • Prepare bank fee accruals to align expenses with the period incurred.
  • Oversee the flow of funds during product migrations to ensure smooth transitions.
  • Reconciles and corrects transactions for assigned accounts and identifies failures not yet recovered, processing errors, reversals not settled, or any issues not settled by the support group.
  • Pulls daily bank statements and other bank reports
  • Monitors bank balances to maintain sufficient funds for daily operations and analyzes bank account behavior to ensure accuracy in financials.
  • Processes reversals in the bank portal and posts to the general ledger.
  • Posts selected transactions to the general ledger (that are not posted automatically through integration).
  • Prepares manual journals for misapplied transactions.
  • Participates in special projects.
  • Performs all other duties as assigned.
Serious candidates will possess the minimum qualifications:
  • Associate's Degree in Accounting, Finance, Business Management, or related field, or equivalent work experience.
  • Minimum two (2) years in accounting, treasury, customer account reconciliation, or related experience preferred.
  • Strong analytical skills, attention to detail, and ability to multitask effectively.
  • Proficiency in Excel and comfortable handling large amounts of data / reports.
  • Familiar with general accounting principles.
  • Exceptional interpersonal, organizational, and communication skills.
  • Working knowledge of ACH network processes to include debits, credits, inquiries, reversals and settlements as well NACHA regulations are nice to have but not required
  • Must be able to sit for long periods of time performing sedentary activities.
SWBC offers*:
  • Competitive overall compensation package
  • Work/Life balance
  • Employee engagement activities and recognition awards
  • Years of Service awards
  • Career enhancement and growth opportunities
  • Leadership Academy and Mentor Program
  • Continuing education and career certifications
  • Variety of healthcare coverage options
  • Traditional and Roth 401(k) retirement plans
  • Lucrative Wellness Program
*Based upon employee eligibilityAdditional Information:SWBC is a Substance-Free Workplace and requires pre-employment drug testing.Please note, SWBC does not hire tobacco users as allowed by law.To learn more about SWBC, visit our website at www.SWBC.com. If interested, please click the appropriate apply button.

SWBC