Category: 

What Does an Operations Processor Do?

Article Details
  • Written By: Mary McMahon
  • Edited By: Shereen Skola
  • Last Modified Date: 20 July 2014
  • Copyright Protected:
    2003-2014
    Conjecture Corporation
  • Print this Article
Free Widgets for your Site/Blog
The average age of a NASA engineer at the time of the Apollo missions was 28, now the average age is 47.  more...

July 29 ,  1976 :  The "Son of Sam" killed for the first time, beginning a long reign of terror on New   more...

An operations processor handles customer accounts for a financial institution. This member of the staff provides some customer service, but also focuses on the internal activities that allow for transfers between accounts, payments, and other activities. Operations processors usually need to have a high school diploma and some experience in the financial industry, but many companies provide training on the job and accept people with minimal qualifications. It helps to have good communication skills and to be comfortable with a variety of people.

Part of the responsibilities of an operations processor includes basic account reconciliation. These personnel review accounts to make sure statements are accurate and complete. If they identify problems, they flag them for further attention and research. This might require finding out why a payment has not transferred, looking into irregular account activity, or completing certain transactions.

If a customer approaches a teller at a branch bank with a complaint, the operations processor is called in. The complaint should detail the nature of the problem, allowing the operations processor to review the account, check for errors, and determine if there is an issue. Customer complaints can be handled in a variety of ways, ranging from issuing a letter explaining the nature of the mistake and steps taken to correct it, to a detailed accounting demonstrating that the customer's concern appears to have been incorrect, according to available information.

Ad

Operations processors can facilitate transfers of money, securities, and other items between customers, banks, and other entities. This work includes verifying transfer requests to make sure they are accurate and putting them through, followed by monitoring progress to make sure everything ends up where it should be. They also handle incoming transactions, route materials on arrival to the correct location, and update records to reflect the new information. This work requires an attention to detail, as well as a sharp eye for irregularities that might indicate money laundering, fraud, or other potential problems.

Opportunities for advancement and professional development in this position can vary. As people acquire experience, they can rise to more senior positions. They may be able to work as supervisors in charge of other operations processor activities, or could move to a different department at the bank. Knowledge of this department can be useful for a range of jobs and because many banks like to promote internally, it is possible to rise to higher positions through promotion within a bank's employees.

Ad

Discuss this Article

Post your comments

Post Anonymously

Login

username
password
forgot password?

Register

username
password
confirm
email