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Wire Transfer Supervisor

4 weeks ago


Oak Brook, United States Republic Bank of Chicago Full time

ESSENTIAL DUTIES AND RESPONSIBILITIES:

- Team Management:

- Supervise a team of wire transfer specialists, providing guidance, training, and support as needed.
- Monitor team performance and implement strategies for streamlining approvals, decreasing processing time and shriving for 100% accuracy.
- Foster a positive and collaborative work environment that encourages teamwork and accountability.
- Wire Transfer Processing:

- Oversee the processing of incoming and outgoing wire transfer requests in accordance with established procedures and deadlines.
- Review and approve high-value or high-risk transactions, ensuring accuracy and compliance with regulatory guidelines.
- Investigate and resolve any discrepancies or issues related to wire transfers, collaborating with team members and other departments as necessary.
- Compliance and Risk Management:

- Ensure adherence to regulatory requirements, including Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC) and Know Your Customer (KYC) guidelines.
- Implement and enforce internal controls to mitigate risks associated with wire transfer activities.
- Stay updated on regulatory changes and industry best practices, adjusting procedures and protocols as needed.
- Customer Service:

- Serve as a point of escalation for customer inquiries or concerns related to wire transfers, resolving issues promptly and professionally.
- Provide guidance to customers on wire transfer processes, fees, and timelines, ensuring a positive customer experience.
- Collaborate with customer service representatives and relationship managers to address customer needs and enhance satisfaction.
- Reporting and Analysis:

- Generate reports on wire transfer activity, transaction volumes, and performance metrics for management review.
- Analyze data trends and identify opportunities for process optimization, cost reduction, or service enhancement.
- Prepare regular reports for regulatory agencies and auditors, ensuring compliance with reporting requirements.

**Required Skills**:
EDUCATION, EXPERIENCE, AND SKILLS:

- Bachelor's degree in accounting, finance, business administration, or a related field. Relevant work experience may be considered in lieu of a degree.
- Prior experience in a supervisory or leadership role within a banking or financial services environment, with specific experience in wire transfer operations preferred.
- Strong understanding of banking regulations and compliance requirements related to wire transfers, including AML, KYC, and OFAC regulations.
- Excellent analytical skills with the ability to interpret data, identify trends, and make informed decisions.
- Effective communication skills, both verbal and written, with the ability to interact professionally with internal and external stakeholders.
- Detail-oriented with a focus on accuracy and quality in all aspects of work.
- Ability to work independently, prioritize tasks, and manage multiple deadlines in a fast-paced environment.

Required Experience
- Proficient in Excel and Microsoft Word.
- Comfortable with math and calculations.
- Excellent phone and communication skills.
- Attention to detail.


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