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About the Role
Rho is seeking a Payment Operations Associate to manage daily payment processing, including client repayments, rewards, credits, and exception resolution. This role involves close collaboration with various internal teams and our partner bank, requiring a detail-oriented approach to ensure accuracy in financial operations.
Responsibilities
- Process client repayments, including recurring ACH pulls and manual handling of non-standard accounts.
- Confirm accurate capture of payments from initiation through posting.
- Calculate and release cashback rewards, reconcile figures, and process statement credits, sign-up bonuses, and promotional incentives.
- Provide cashback breakdowns to clients upon request.
- Update client credit limits, payment terms, statement cycles, and custom pricing, ensuring record consistency and documenting changes.
- Manage wire operations, including trace requests, recalls, returns, and non-posted wires.
- Administer enrollments and limit changes for drawdown wire services.
- Initiate ACH returns and reversals in compliance with NACHA rules and timeframes.
- Expedite settlement on approved transactions and hold unusual transactions for review.
- Manage Remote Deposit Capture (RDC) returns and set appropriate settlement delays or instant releases.
- Produce weekly past-due reports for relevant departments and monitor overdue balances.
- Escalate delinquency issues for client outreach.
- Flag sanctions-related inquiries and forward legal notices to appropriate teams.
- Coordinate Letter of Indemnity and Hold Harmless requests.
- Request limit increases when transaction thresholds are reached.
- Coordinate Standby Letters of Credit with the partner bank, process associated fees, and provide figures for month-end statements.
- Identify manual steps for automation and partner with Product and Engineering to improve payment workflows.
- Keep procedure documentation current.
Requirements
- 2+ years in payment operations, banking operations, treasury operations, or a similar function at a fintech, bank, or payment processor.
- Working knowledge of payment rails including ACH, Fedwire, RTP, card networks, and remote deposit.
- Understanding of payment failure, return, and late settlement processes.
- Exceptional attention to detail and accuracy in reconciliation.
- Ability to manage recurring hard deadlines and high transaction volumes without compromising accuracy.
- Hands-on experience with operational tooling such as ticketing systems (Jira), BI dashboards (Looker), spreadsheets, and bank portals.
- Clear written communication skills for cross-team coordination.
- Sound judgment in escalating issues to Fraud, Credit, or Legal teams.
Skills
- ACH
- Fedwire
- RTP
- Card networks
- Remote deposit
- Jira
- Looker
- Spreadsheets
- Bank portals
- SQL (plus)
Location
- Remote
Work Type
- Full-time
Experience Level
- 2+ years
Salary/Compensations
- $70,000 - $100,000
Benefits
- Equity
- Comprehensive healthcare benefits
- Paid time off
About the Company
- Rho is the modern banking platform built for the AI era, enabling startups and growth-stage companies to manage accounts, cards, expenses, bills, and bookkeeping on a connected platform with human support.