Payment Processor

Covetus; Milford (OH); On-site; USD 60,000 - 85,000; Full time

Job summary

Covetus is seeking a detail-oriented Payment Processor / Payment Investigations Analyst to join our Payments Operations team in Milford, OH. The role focuses on SWIFT payments, investigations, reconciliations, and correspondent banking operations, requiring collaboration with internal and external stakeholders to resolve inquiries efficiently.

Responsibilities include investigating SWIFT inquiries (MT103/202, MT110/199/299), end-to-end payment investigations, liaison with correspondent banks,

Qualifications

• Associates degree preferred in Finance, Accounting, Business Administration, Economics, or related field.
• 2+ years of experience in Payments Operations, Banking Operations, Wire Transfer Processing, Payment Investigations, or Reconciliation.
• Strong knowledge of SWIFT messaging and international payments processes.
• Experience in high-volume transactional environments is a plus.
• Excellent written and verbal English communication.

Responsibilities

• Investigate and resolve payment inquiries related to SWIFT messages (MT103, MT202, MT110, MT199, MT299).
• Perform end-to-end payment investigations and identify root causes for timely resolution.
• Communicate with correspondent banks and client systems via SWIFT and other platforms.
• Follow up on confirmations, recalls, beneficiary details, and resolutions.
• Coordinate with internal teams to accelerate query resolution.
• Review Nostro accounts and clear outstanding entries within SLAs.
• Monitor queues and investigations to meet productivity and quality targets.
• Maintain internal controls and regulatory compliance.
• Provide client support via phone, email, and channels.
• Prepare MIS and client-facing reports and metrics.
• Identify process improvements to reduce risk and improve service.

Skills

SWIFT Messaging

International Payments

Payment Investigations

Funds Recall Processes

Clearing and Settlement Systems

Excel

Outlook

Education

Associates degree in Finance/Accounting/Business

Tools

Excel

Outlook

Job description

We are seeking a detail-oriented and customer-focused Payment Processor / Payment Investigations Analyst to join our Payments Operations team. The ideal candidate will possess strong knowledge of SWIFT payments, investigations, reconciliations, and correspondent banking operations. This role requires extensive interaction with internal stakeholders and external financial institutions to ensure timely and accurate resolution of payment-related inquiries.

The successful candidate will be responsible for handling payment investigations, reconciling accounts, resolving exceptions, and ensuring adherence to operational controls and regulatory requirements while delivering exceptional client service.

Key Responsibilities

• Investigate and resolve payment inquiries related to SWIFT message types including MT103, MT202, MT110, MT199, MT299, and other payment-related communications.
• Perform end-to-end payment investigations to identify root causes and ensure timely resolution of client and banking queries.
• Communicate with correspondent and external banks through SWIFT messaging platforms and client systems.
• Follow up with financial institutions regarding payment confirmations, fund recalls, beneficiary details, and transaction resolutions.
• Coordinate with internal operational teams, treasury, settlements, compliance, and customer service groups to expedite query resolution.
• Review and reconcile Nostro accounts, ensuring outstanding debit and credit entries are investigated and cleared within established service levels.
• Monitor payment queues and investigation cases to meet productivity, quality, and turnaround time targets.
• Maintain compliance with internal controls, operational procedures, risk frameworks, and regulatory requirements.
• Provide professional support to clients through phone, email, and other communication channels.
• Prepare operational reports, management information system (MIS) reports, and client-facing metrics.
• Identify process improvement opportunities to enhance efficiency, reduce risk, and improve service delivery.
• Document investigations clearly and maintain accurate records for audit and compliance purposes.
• Participate in ongoing training and process enhancement initiatives.

Required Qualifications

• Associates degree in Finance, Accounting, Business Administration, Economics, or a related field preferred.
• 2+ years of experience in Payments Operations, Banking Operations, Wire Transfer Processing, Payment Investigations, or Reconciliation.
• Strong knowledge of:
• SWIFT Messaging (MT103, MT202, MT110, MT199, MT299)
• International Payments and Correspondent Banking
• Payment Investigations
• Funds Recall Processes
• Clearing and Settlement Systems
• Experience working in a high-volume transactional environment.
• Strong analytical and problem-solving skills with attention to detail.
• Excellent verbal and written communication skills in English.
• Ability to manage multiple priorities while meeting strict deadlines.
• Proficiency in Microsoft Excel, Outlook, and standard reporting tools.