Payment Processor I at Cenlar in Trenton, New Jersey

Job Description:

The Payment Processor is responsible for loan level cash transactions, reconciling funds received to the system of record and depositing checks to Federal Reserve Bank.



Responsibilities:

• Accurately inputs all data to post borrower payments in a timely manner according to the borrower's instructions, following all pertinent and relative investor posting rules and special processing rules as designated by Cenlar's clients


• Posts and reconciles payments received from all sources:checks, wire, branch feeds and electronic batches


• Posts other loan level transactions as requested by internal departments, including but not limited to initial escrow, special deposits, corporate advance repayments and non-cash payment transactions


• Coordinates the identification and transfer of payments to other servicers for loans that have deconverted


• Facilitates the advisement to other department of receipt of checks for loans in default and posting checks per the instructions of the default departments


• Researches and identifies payments received without correct loan numbers, communicate with client relations managers and payment sources (i.e. Checkfree, clients) of any loan numbers that cannot be identified


• Identifies funds received on paid in full loans, documents system of record and coordinates return of funds to sender


• Balances all system activity and deposit all checks via electronic scanners, reconciling check deposit to system totals


• Coordinates with clients to obtain missing or correct information for payments wired electronic branch feeds


• Meets departmental standards for processing time and accuracy


• Assists mail coordinator with the dissemination of work


• Works on special projects as assigned


• Consistently complies with all company guidelines and policies


• Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

• High School Diploma or GED required


• 2 - 3 years of current branch banking experience or relatedpayment processing experience


• Computer literacy, including but not limited to Windows, Excel, Word, Outlook


• Knowledge of BKFS MSP preferred but not required


• Proficiency in a 10-key calculator by touch


• Strong math aptitude essential


• Demonstrated analytical and problem solving skills


• Excellent written and verbal communication and interpersonal skills required


• Ability to work as a team member in a diverse workforce


• Ability to multi task in a fast paced environment


• Requirements under the Truth in Lending Act (TILA) specifically:
  
  
  • the prohibition of pyramiding late fees,
  
  
  • payment processing and the treatment of partial payments,
  
  
  • payoff statements, and
  
  
  • payoff statements for high cost mortgages.
  
  
  
  


• Requirements under the Electronic Fund Transfer Act specifically:
  
  
  • proper crediting for preauthorized transfers to consumers' accounts, and
  
  
  • written authorization requirements for preauthorized transfers from consumers' accounts.
  
  
  
  


• Requirements under the Fair Debt Collection Practices Act (FDCPA) specifically:
  
  
  • proper treatment of applying payment when borrowers have multiple debts, and
  
  
  • unfair debt collection practices.