Payment Processing Specialist

OBJECTIVE

Payment Processing Specialist Objective

Process incoming payments for Farm Bureau Insurance Property/Casualty (P/C), Life and Annuity, Great Lakes Agribusiness Insurance (GLAIC) Companies, Michigan Farm Bureau memberships and Gravity Works Company. To post premium payments to the appropriate accounts and policies, and process other non-premium payments according to established procedures. To create general ledger vouchers of daily deposits and transfers.

RESPONSIBILITIES

Payment Processing Specialist Responsibilities

Receive, sort, and date stamp incoming cash and check payments, conducting research across various systems to determine proper application. Enter batches and process payments for P/C, Life & Annuity, and GLAIC in multiple billing systems. Electronically process check payments by scanning them into the bank website. Prepare exports and deposits for end-of-day reconciliation. Forward name and address updates, along with other correspondence, to the appropriate departments. Ensure customer payment details are handled with accuracy, efficiency, and clarity.

 

Gain expertise in and maintain the daily procedures for Life & Annuity disbursement checks. Review the list provided by the life team, identify checks exceeding $50,000.00 that require an additional signature, and ensure the completion of the process for the life team.

 

Handle bank corrections and encoding errors, ensuring accurate updates across multiple billing systems.

 

Work with Life, GLAIC and P/C Customer Service and Processing areas, agent offices, and mortgage companies by telephone, email, or e-form to resolve unidentified payments.

 

QUALIFICATIONS

Payment Processing Specialist Qualifications

Required

High school diploma or equivalent required.

 

One year of banking, cashiering, or similar experience required.

 

Printing calculator and computer skills required.

 

Keyboarding skills of 45-50 wpm with emphasis on accuracy required.

 

Reading and writing literacy, and math skills required.

 

Ability to meet deadlines and handle high volume workloads required.

 

Preferred

Associate degree preferred.

 

Professional office experience preferred.

 

Basic accounting or bookkeeping experience preferred.

 

Banking skills preferred.

 

Note Farm Bureau offers a full benefit package including medical, dental, vision, and 401K.

 

PM19