Funds Transfer Representative

Description

About BFSFCU:

Bank-Fund Staff Federal Credit Union (BFSFCU) is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BFSFCU maintains three full-service branches downtown as well as a full-service Lending Center near Farragut West metro station.

Summary:

Responsible for verifying the authenticity of all member funds transfer requests through research and member contact; Responsible for the origination and processing of all verified domestic and international funds transfers through the appropriate payments system; Responsible for identifying fraudulent funds transfer requests, and potential account takeovers. Validate eWire request structure; authenticate eWire requests and enter eWire requests into the Workflow process.  Responsible for answering wire related inquires submitted by members via phone and digital channels.

Responsibilities:

• Verify the authenticity of funds transfer instructions received in accordance with established BFSFCU procedures. Which includes but is not limited to contacting the member(s) to request additional details and documentation to ensure proper compliance with current US Regulations regarding the transfer of funds.
• Verify the authenticity of the member, which includes but not limited to, contacting the member(s) when appropriate, to confirm their identity as the authorizing accountholder/Funds Transfer originator.
• Processes all incoming and outgoing domestic U.S. dollar wire transfers through the Federal Reserve Bank’s FedDirect System.
• Maintain proficiency in processing incoming and outgoing wires through the Federal Reserve Bank’s FedLine Advantage System for business continuity purposes.
• Process all outgoing international wire transfers through the appropriate international wire provider platform.
• Manage the Credit Union’s automated wire origination workflow.
• Keep knowledge up to date on current US regulations and fraud practices impacting the trans-fer of funds. 
• Evaluate the contents of funds transfer requests in light of known fraud patterns, in order to identify fraudulent funds transfer requests and safeguard targeted member accounts. 
• Analyze account patterns for potential money laundering activities for referral and for potential account takeovers.
• Ensure that all domestic and international funds transfers are structured for efficient transmission through the appropriate payments system.
• Assist and instruct Members in the use of the Credit Union’s eWire module.
• Perform the necessary transactions on member accounts for wire transfers activities.
• Responsible for all wire-related inquires submitted by members through digital channels, escalating inquires to the Funds Transfer Analysts or the Manager, Funds Transfer Services as needed.  
• Maintain and update the Credit Union’s Policies and Procedures manual as needed.
• Assist members and Credit Union staff with questions involving the position’s responsibilities.
• Assist and instruct Members or staff in the use of the Credit Union’s eWire module.
• Recommend process improvements to management where appropriate.  
• Participate in annual Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) training and demonstrate knowledge and understanding of the BSA and OFAC, including the im-mediate reporting of unusual or suspicious activity to the Risk Management Department.  Undertake additional training specific to daily responsibilities and as required to ensure continued compliance with all applicable regulations.
• Ensure the Credit Union’s safe harbor protections as allowed by the BSA.  Understand that if confronted with knowledge of existence of a Suspicious Activity Report (SAR), an obligation exists to preserve the confidentiality of that SAR, as well as any information that may reveal the existence of a SAR.  Maintain awareness of, and immediately report to the Compliance Officer, any unauthorized disclosure of a SAR, or unauthorized disclosure of information related to a SAR. Understand that failure to do so is a violation of federal law and may lead to both civil and criminal penalties for SAR disclosure violations.
• Successfully participate in annual Information Security refresher training. Comply with the In-formation Security Policy, including the immediate reporting of unusual or suspicious activity to management and the Information Security Officer. Follow all procedures to protect company computers from viruses, and to maintain the security and confidentiality of Credit Union data. 
• Demonstrate commitment to the Credit Union’s Service PACT philosophy.
• Undertake other work-related duties as assigned.

Requirements

Minimum Qualifications or Knowledge, Skills and Abilities Required 

• Associates Degree or equivalent combination of education and experience
• One year previous banking experience preferred

Professional Qualifications:

• Proven ability to work on a team
• Reliability and accountability
• Strong written and verbal skills
• Ability to organize and prioritize tasks to establish and meet deadlines

For internal purposes, this position is graded as NE-6