ACH / Wire Transfer Coordinator

Summary/Objective

Processing of all incoming and outgoing wire transfers according to the Signature Bank Wire Transfer Policy.  Processing and reconcilement of incoming and outgoing ACH files per the Signature Bank ACH Policy.

Essential Duties & Responsibilities

The following duties are normal for this position. These are not to be construed as exclusive or all-inclusive. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

1.      Reconcile, balance, and manage the Bank’s financial activity within the Federal Reserve Bank Account (Due from Fed account) daily, which includes:

a.      Cash letter tracking and balancing

b.      ACH items

c.       Wire transfers (foreign and domestic)

d.      Check clearing (incoming and outgoing)

e.      Check/Cash Letter Adjustments

f.        Other Fed related items/transactions

2.      Reconcile various internal accounts on a daily or monthly basis as required by the type of account.

3.      Processing of all incoming and outgoing wire transfers according to the Signature Bank Wire Transfer policy. This includes performing the appropriate actions to post the transfer to client accounts within the Bank’s primary software system and sending the wire to the Federal Reserve Bank under dual control.

4.      Processing of all outgoing International Wires, including US and foreign currency wires according to Signature Bank Wire Policy.

5.      Perform fraud prevention review when processing all outgoing wires per the wire policy.  Stay up to date on potential fraud scams.

6.      On a daily basis, assist Management with fed funds investment and borrowing positions based on the activity within the Fed account.

7.      Notifying Fed of currency & coin shipments to them (deposits) or of currency & coin orders needed by the bank locations.  Direction of shipments/orders will be provided by the Teller areas.

8.      Coordinate all check adjustments to and from the Federal Reserve Bank of Cleveland. 

9.      Responsible for receiving and processing ACH payroll files from Third-Party Payroll processors according to the Signature Bank ACH Policy.  Duty is time sensitive and will require late hours.

10.  Responsible for the processing of incoming and outgoing ACH items/files while ensuring compliance with the Signature Bank ACH Policy. This includes performing fraud prevention reviews when processing outgoing ACH transactions.

11.  Assist with the ACH returns process as needed.  Work with Officers and clients as needed for proper ACH return handling.  Obtain proper paperwork for any client requested return.  Also assist with the ACH Notifications of Change process.

Competencies

1.      Ethical conduct

2.      Technical aptitude in computer software programs and ability to used many software systems simultaneously

3.      Accuracy and thoroughness, including problem solving

4.      Consistency and reliability

5.      Receptive listener and good communicator

6.      Ability to work independently with time management skills

7.      Relationship management

8.      Responsive and flexible to other duties as assigned on an intermittent or regular basis as needed.