Wire Transfer Specialist

Summary of Position

The Wire Transfer Specialist is responsible for daily wire transactions and complex wire investigations. This position ensures that all incoming, outgoing, and internal wires are processed with urgency, accuracy, and compliance, while taking full ownership of researching discrepancies, resolving client and bank inquiries, and clearing related general ledger accounts.

Essential Functions and Duties

Wire Processing & Execution Operations

• Responsible for preparing, processing, and executing incoming, outgoing, and internal payments, domestic and international wire transfers, including foreign currency transactions, ensuring all transactions are processed with urgency and in a timely manner. • Monitors the Online Banking, SWIFT, and Fedwire channels throughout the day to ensure all incoming and outgoing transactions are received, executed accurately, maintained in completed status, and reconciled against core system balances. • Responsible for preparing outgoing wire transfers with correct receiving and correspondent bank details for settlement and payment processing. • Responsible for completing, organizing, and maintaining accurate documentation for all wire transfer files and daily system operational tasks.

Wire Investigations & Research

• Responsible for researching, analyzing, and resolving inquiries, disputes, and discrepancies noted by internal and external clients, account officers, or counterpart financial institutions. • Responsible for drafting, sending, and receiving Fedwire and SWIFT administrative messages, as well as conducting direct communications (via phone or email), with all intermediary and correspondent banks involved in order to resolve wire transfer investigations in a timely manner. • Responsible for contacting account officers as needed to gather necessary approvals or communicate with clients. • Responsible for making all accounting entries necessary to settle, adjust, and complete an investigation. • Responsible for managing, reconciling, and clearing the daily general ledger (GL) accounts tied to wire transfers and investigations. • Responsible for documenting, maintaining, and updating investigation files and tracking logs for monthly operational and management reviews.

BSA, Compliance & Risk Management

• Responsible for conducting initial OFAC screening reviews and determining if potential matches need to be escalated to the BSA department for further review. • Work closely with compliance teams to address flagged transactions and follow up on necessary documentation to ensure swift resolution and mitigate risk. • Responsible for checking the FATCA list to ensure compliance prior to sending outgoing international wire transfers. • Comply with all federal, state, and local banking regulations including the Travel Rule, FATCA, BSA/AML, and Dodd-Frank Remittance Transfer rules. • Comply with all Bank BSA/AML policies and maintain a working knowledge of anti-money laundering regulations in order to properly detect, document, and report unusual or suspicious activities. • Abide by and follow the bank's Enterprise Risk Management (ERM) Policy to proactively identify, prioritize, and manage operational risks within daily activities. • Consistently apply sound decision-making techniques pertaining to inquiries and requests as they apply to the policies and procedures of the bank.