Company Description

We’re embarking on something BIG…

Central 1 is the partner of choice for financial, digital banking and payment products and services – fueling the success of businesses across Canada. With $16.9 billion in assets, we leverage our scale, strength and expertise to power progress for more than 225 credit unions and other financial institutions, enhancing the financial well-being of more than five million customers from coast to coast. For more information, visit

Job Description

The Payment Services Specialist performs functions related to the processing of returned items for the credit unions and indirect clearers who have subscribed to ‘cheque imaging,’ enrolled in bulk cheque filing, and cheque destruction weekly and monthly and centralized returned item processing.

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. The incumbent is accountable for:
  • Exercising sound judgment in dealing with unusual situations, large dollar values, and applying the Payments Canada Rules within established guidelines and procedures.
  • Processing returns within the timeframes specified in the Payments Canada Rules to avoid loss of recourse and financial liability
  • Process US Returns using a third-party vendor application.
  • Keeping knowledge levels of the Payments Canada Rules up-to-date and current with the periodic Rule changes
  • Verify receipt of data input files (Cheque Return File, Member Preference File, and Exception Item Pull File) 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
  • Processing jobs on computer and document processing equipment
  • Initiating jobs on laser printers to print the CAD and US regular and manual returns to ensure the return images' quality controls meets the Payments Canada and Department standards.
  • Resolving work stoppages due to printer issues and resolving these issues promptly
  • Review all output from returned item processing and determine correctness and completeness before distribution of returned items.


What you'll have:

  • Grade 12 education, some post-secondary education in accounting and computer practices
  • 4 years experience in a financial institution combined with a sound knowledge of computer-automated systems and a working knowledge of the Payments Canada Rules related to clearings, endorsements, and returned items
  • Strong attention to detail and accuracy
  • Strong data analytical skills and the ability to interpret reports
  • Excellent verbal and written communication skills
  • Quick learner and team player

Additional Information

As much as we believe in working hard, we also believe in personal growth and taking time for ourselves. Accordingly, our total rewards philosophy amounts to one of the best compensation and benefits packages in the industry – from performance-based incentives and extended benefits, to training and education reimbursements and ample vacation time.

Central 1 is committed to building a diverse and inclusive workforce by creating an environment where everyone feels like they belong and has the opportunity to be successful. We are welcoming of all applicants and we will provide an accessible candidate experience.

Reporting to: Manager, Payment Operations
Grade: B
Date Posted: March 15, 2021
External Applicant due date: March 26, 2021
Location: Vancouver, BC

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