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What is the $1 doing in this load statement?
A bigger picture of your script could help understand that. It could be just a field name, it could be an argument passed to a function/sub-routine,...
This is actually a variable(vKeyConverter)
The variable is then placed at the front of code that is building a key:
$(vKeyConverter([SNAPSHOT_ID]&'$(vKeyDellimitter)'& [EMP_DK]&'$(vKeyDellimitter)'& [DATA_MONTH_SK]&'$(vKeyDellimitter)'& [TERR_NBR]&'$(vKeyDellimitter)'& AutonumberHash256(GEOGRAPHY_ID_NM))) as [%KEY_SUMMARY_PAYOUT]