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Wire Transfer Operations Specialist
2 months ago
The Banking Wire Transfer Specialist is responsible for overseeing and managing the wire processing operations, including managing all Fed service messages and recalls, investigating wire transfer discrepancies, and serving as the liaison between Seacoast and Wells Fargo from an International wire perspective for issues, escalations, and reporting while ensuring the integrity and security of all wire transactions both Domestic and International.
Key Responsibilities- Investigate and resolve wire transfer discrepancies and errors.
- Respond to wire transfer investigation messages via the Fed in a timely and accurate manner.
- Communicate with Wells Fargo and other correspondent banks to resolve issues and obtain necessary information.
- Collaborate with internal teams, such as Operations and Customer Service, to resolve wire transfer issues.
- Analyze and interpret complex wire transfer data and documentation.
- Identify and implement process improvements to increase efficiency and reduce errors.
- Provide exceptional customer service and support to internal and external stakeholders.
- Collaborate with the IT department to enhance the functionality and efficiency of the WITS.
- Conduct regular testing and validation within WITS to ensure the system's reliability and accuracy.
- Prepare and maintain detailed reports on wire transfer activities and fraud investigation outcomes.
- Participate in WITS Optimization initiatives, proposing improvements and overseeing the implementation of new features.
- Stay up to date with industry trends, regulatory changes, and emerging fraud threats.
- Assist in the development of wire transfer policies and procedures.
- Participate in internal audits and regulatory exams as required.
- Collaborate with the risk management team to identify and mitigate potential risks.
- Develop and maintain relationships with external partners and vendors.
- Work with GP. FXIQ, our wire transfer Foreign Exchange conversion system, to:
- Apply rule-based decisions for converting or not converting USD payments
- Process and pay out 'Do not convert' customers and payments in USD
- Convert qualifying payments to appropriate foreign currencies
- Apply fee deductions and FX spreads (including Wells Fargo and Seacoast National Bank spreads)
- Monitor and track inbound and outbound payments using GPI Tracker, including:
- Viewing payment status and tracking information in near real-time
- Monitoring payment order cancellation request status updates
- Displaying GPI Status tracking information through Wells Fargo's web based CyberInquiry Current Day service
- Other tasks as directed by the Wire Transfer Operations Manager.
- Adheres to Seacoast Bank's code of conduct.
- Bachelor's degree required.
- 3+ years Banking experience or a combination of education and experience.
- 3+ years Wire transfer processing experience.
- Strong understanding of payment systems and regulatory compliance.
- Proficiency in using financial software applications.
- Excellent analytical and problem-solving skills.
- Effective communication and interpersonal abilities.
- Detail-oriented with a high degree of accuracy and precision.
- Familiarity with wire transfer regulations and industry standards (e.g., Fedwire, SWIFT)