Corporate Accountant- Dues, Assessments & Settlement- Remote

Velera is the nation’s premier payments credit union service organization (CUSO) and an integrated fintech solutions provider. The company serves more than 4,000 financial institutions throughout North America, operating with velocity to help our clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Our purpose: We accelerate partners’ success through innovative financial technology solutions and inspired service.

The Corporate Accountant – Dues, Assessments & Settlement will be responsible for analyzing complex information and ensure that Visa and MasterCard quarterly dues and assessments are accurately calculated and paid on behalf of our credit unions, ensure Velera credit unions are accurately billed for their Association charges and calculate the quarterly prefund assessments. This position is also responsible for ensuring the credit union financial data is reported accurately to the Associations.

• Facilitate, prepare, and administer the quarterly reporting of sales volume, merchant activity, transaction counts, and other required cardholder and program information for member credit unions to Visa and MasterCard, ensuring that all related policies and procedures are in compliance with Association best practices and operating regulations.

• Generate and analyze billing associated with quarterly reporting, reconcile discrepancies, and facilitate fee generation to member invoices for Visa, MasterCard, and network affiliations.

• Facilitate, analyze, and prepare integrated billing to our CU for ongoing Association fees including Visa monthly authorization billing, MasterCard daily billing and annual BIN licensing fees.

• Assist in reconciliation of the Visa and MasterCard payable account related to quarterly dues. Document open items and follow up to resolve with the vendor or through CU billing.

• Manage the company’s subscription to Kroll Bond Rating Agency Inc., ensuring our member owner credit unions database is properly maintained within vendor software.

• Analyze market risk prefund requirements and assessments for identified CUs, and report findings to Senior Leadership. As needed, report information to Account Executives for follow up. Manage all Letters of Credit for purposes of Market Risk Prefund collateral. Participate in annual audit concerning all aspects of Market Risk Prefund calculation and billing.

• Prepare and administer the Advanced Clearing Fund account, funding the two-day settlement process between Visa/MasterCard and Fiserv. Facilitate process in which each credit/debit program calculates assets required to fund Fiserv to process transactions on a daily basis. Process billing to members on a quarterly basis, and maintain and balance the general ledger quarterly.

• Maintain direct contact with credit union staff during the quarterly reporting phase and answer all pertinent questions related to reports. Participate in Association and outside audits. Support Finance department with Visa quarterly reporting and associated billing for Visa and MasterCard.

• Develop and implement accounting and reporting procedures to avoid charges being included in the allocation process for any shared BIN environment. Maintain direct credit union contact as it pertains to Automated Clearinghouse (ACH) activity between Associations and credit unions. Participate in annual 2 audit concerning all aspects of Association pass-through billing.

• Maintain operational application within the corporate database to ensure accurate charter status, settlement method, quarterly reporting status, and business identifiers are recorded for reporting and billing. Maintain proper controls within corporate database to assure proper calculations are administered to operational pass-thru dollars pertaining to Association billing and prefund adjustments. Maintain accurate lookup tables to ensure proper billing to member invoices.

• Prepare and administer Visa and MasterCard monthly pass thru billing, including researching discrepancies and billing adjustments.

• Prepare and facilitate monthly cash and balance sheet reconciliations.

• Generate and analyze reports categorizing and determining which credit unions will receive prefund adjustments. Notify respective Service Center to initiate proactive communication to our member owners. Participate in annual audit related to Advanced Clearing Fund account.

• As needed, perform routine and non-routine analysis of financial data.

• Perform other duties as assigned.

Qualifications

About Velera

At Velera we are committed to fostering a workplace where every employee feels valued, respected, and connected. We understand, attract and engage a diverse workforce where every employee can live up to their full potential; ensuring that our employee base reflects the consumers we serve. The result of this effort is an inclusive environment where diverse talent thrives. We strive to foster a safe and inclusive work environment for people to bring their authentic selves in order to build a better community within our company and with our partners.   Learn more about our commitment to Diversity, Equity, and Inclusion HERE!

Pay Equity

Actual Pay will be adjusted based on experience and other job-related factors permitted by law.

Great Work/Life Benefits!

• Competitive wages

• Medical with telemedicine

• Dental and Vision

• Basic and Optional Life Insurance

• Paid Time Off (PTO)

• Maternity, Parental, Family Care

• Community Volunteer Time Off

• 12 Paid Holidays

• Company Paid Disability Insurance

• 401k (with employer match)

• Health Savings Accounts (HSA) with company provided contributions

• Flexible Spending Accounts (FSA)

• Supplemental Insurance

• Mental Health and Well-being: Employee Assistance Program (EAP)

• Tuition Reimbursement

• Wellness program

• Benefits are subject to generally applicable eligibility, waiting period, contribution, and other requirements and conditions

Velera is an Equal Opportunity Employer. We consider applicants without regard to race, color, religion, age, national origin, ancestry, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, veteran status, disability, genetic information, citizenship status, or membership in any other group protected by federal, state or local law.

Velera is an Equal Opportunity Employer that complies with the laws and regulations set forth in the following "EEO is the Law" Poster. Velera will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the legal duty to furnish information.

Velera is an E-Verify Employer. Review the E-Verify Poster here.  For information regarding your Right To Work, please click here.

This role is currently not eligible for sponsorship.

As an ongoing commitment to reasonably accommodate individuals with disabilities please contact a recruiter at [email protected] for assistance.