Senior Electronic (Wire) Payments Representative

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Position Overview

The Senior Electronic (Wire) Payments Representative is responsible for supporting the daily operations, processing, oversight, and quality control of electronic payment activities, with primary emphasis on Wire Transfer and Foreign Exchange (FX) services. This role ensures transactions are processed accurately, timely, securely, and in accordance with Bank policies, regulatory requirements, internal controls, and customer service standards.

The position provides hands-on support to the Electronic Payments function, partners closely with internal departments, and serves as a knowledgeable resource for Wire, FX, and related electronic payment processes. ACH support is provided on an as-needed or backup basis.

Essential Job Functions

• Process, review, and/or support domestic and international wire transfer activity, ensuring transactions are completed accurately and within established deadlines.
• Support Foreign Exchange (FX) transactions, including processing, documentation, review, and coordination with appropriate internal or external parties.
• Verify that Wire and FX transactions have been properly approved by the appropriate level of authority, with exceptions clearly documented for audit and compliance purposes.
• Review and resolve incoming wire transactions that do not automatically post.
• Balance settlement general ledger accounts, process wire transfer requests, and post settlement entries.
• Monitor and review OFAC, sanctions, and compliance queues related to wire and electronic payment activity, ensuring compliance with applicable regulatory requirements.
• Process Reg E and Remittance Transfer claims in accordance with regulatory rules, internal procedures, and required timeframes.
• Partner with BSA, Fraud, and other internal departments to review, escalate, and resolve payment-related issues or potentially suspicious activity.
• Uphold Bank policies, procedures, risk controls, and regulatory requirements related to electronic payment processing.
• Provide timely, professional support to internal and external customers, ensuring high-quality service and issue resolution.
• Provide backup support and consultation for ACH services as needed.
• Upload and process incoming and outgoing ACH files through Federal Reserve and ancillary channels to the Bank's core processing system, verifying file totals and ensuring accurate posting.
• Memo-post daily ACH activity as required.
• Contact Bank Account Officers as needed to obtain approval for negative or collected balance positions in order to reduce risk exposure to the Bank.
• Send notices to applicable ACH Originators regarding returned transactions and Notifications of Change.
• Identify processing discrepancies, operational risks, or process improvement opportunities and escalate as appropriate.
• Perform other duties as assigned by the Electronic Payments Manager.

Minimum Requirements

• High school diploma (or equivalent) and two or more years of banking experience; or equivalent combination of education and experience.

Competencies

• Strong verbal and written communication skills.
• Excellent analytical and organizational skills.
• Ability to work effectively in a fast-paced, deadline-driven environment.
• Demonstrates flexibility and the ability to manage multiple tasks simultaneously.
• Strong computer proficiency, including Microsoft Office and banking/payment systems and processes.

Preferred, but not required

* Experience with wire transfer processing, Foreign Exchange, ACH, or electronic payments.
* Familiarity with OFAC screening, BSA/AML procedures, Reg E, Remittance Transfer rules, and electronic payment regulations.
* Experience working with core banking systems, wire platforms, or Federal Reserve systems.

Location Details

This position requires the incumbent to work onsite (37 S. River Street, Aurora, IL) on a daily basis to perform the regular responsibilities of the role.

Compensation & Benefits

Base pay: $22.55 - $29.30/hour

Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent's knowledge, skills and experience.

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