Hi Ginny, and welcome to the forum.
I think that you have a couple of options, given that you have v9 Pro.
1) Open the CSV file with the Open Database... menu, specifying the | character as the field delimiter. This may be your easiest approach.
2) You're having trouble trapping on the | characters because that character is one of Monarch's default trap characters, representing the "Numeric OR". So it's doing its proper job, but it's not looking for | characters in the position you specify. But by going to the Options, Input... menu you can select the Alternate trap characters instead of the Standard one. Then using a | character will trap | characters in the data, as you intended.