Payment Services Specialist

7 days ago


Vancouver, British Columbia, Canada Central 1 Credit Union Full time
Central 1 cooperatively empowers credit unions and other financial institutions to deliver banking choice to Canadians. Central 1 provides critical services at scale to enable a thriving credit union system.

We do this by collaborating with our clients, developing strategies, products and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada.

For more information, visit

What we offer:

  • Worklife flexibility
  • Hybrid work environment
  • One time allowance to set up your office for remote first employees
  • Variable annual incentive plan
  • Generous annual vacation allotment
  • Topnotch flexible benefits plan
  • Retirement Plan, matched contributions at 6%
  • Access to a learning platform and educational assistance support
  • Career development opportunities
  • Wellness Flex Fund to support personal interest and activities
  • Day off to volunteer in your community and other paid time off options
  • Corporate discounts

Job Summary:

What you'll be doing:

  • Ensure that returned item processing complies with all aspects of the Payments Canada Rules related to clearings, endorsements and returned items
  • Processing returns within the timeframes specified in the Payments Canada Rules to avoid loss of recourse and financial liability
  • Keeping knowledge levels of the Payments Canada Rules uptodate and current with the periodic Rule changes
  • Verifying receipt of data input files (Cheque Return File and Member Preference File the from credit unions and coordinating the input workflow through the returned item process.
  • Updating the Post/Non-Post files to the credit union image file
  • Initiating jobs on laser printers to print the CAD and US regular and manual returns to ensure quality controls of the return images meets the Payments Canada and Department standards.
  • Resolving work stoppages due to printer issues and to resolve these issues in a timely manner.
  • Reviewing all output from returned item processing and determine correctness and completeness before distribution of returned items.
  • Assisting with parallel testing for credit unions, testing software upgrades to the Returned Item system and suggesting ways to improve processes to ensure the highest level of accuracy and efficiency
  • Distribute outputs in a timely fashion by matching cheques with correct Returned Item Envelopes, balance and enter the Clearing system
  • Perform the amount keying, reject corrections and balancing functions using the Image System to balance both paper deposits and electronic deposits
  • Meet recurring deadlines with high degree of accuracy and performs other duties in the department

What you'll have:

  • Postsecondary education in accounting and computer practices
  • 4+ years' experience in a financial institution
  • Sound knowledge of computer automated systems
  • Working knowledge of the Payments Canada Rules related to clearings, endorsements, and returned items
  • Display accuracy and speed in data entry
  • Ability to analyze data, interpret reports and troubleshoot problems, follow detailed instructions, and meet rigid deadlines
  • Ability to communicate effectively
  • Ability to function effectively in a team atmosphere
  • Ability to deal with change
  • Desire to learn and understand new processes
  • Demonstrate the ability to exercise sound judgment, as the impact of errors and decisions could result in financial losses to Central and/or the credit unions


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