What are the responsibilities and job description for the Dept Manager, Wire Transfer & Inv position at Valley Bank?
Responsibilities Include But Are Not Limited To
Required Skills
- Manage the wire transfer and investigations teams, including hiring, training, coaching, and performance evaluation.
- Ensure that all wire transfer requests are verified, authorized, and executed in a timely and secure manner.
- Monitor and analyze wire transfer volumes, trends, and issues, and implement process improvements and risk mitigation strategies.
- Develop and maintain policies and procedures for wire transfer operations and investigations, and ensure compliance with federal, state, and local regulations, as well as industry best practices and standards.
- Conduct or supervise investigations of suspicious or fraudulent wire transfer activities and prepare reports and recommendations for management and regulatory agencies.
- Coordinate with internal and external auditors, regulators, law enforcement, and other stakeholders on wire transfer and investigations matters.
- Provide guidance and support to wire transfer and investigations staff on complex or escalated cases.
- Stay abreast of the latest developments and trends in wire transfer and investigations and participate in relevant industry forums and associations.
- Oversee the monitoring of wire transfer money movements at the FED, The Clearing House and correspondent banks to ensure proper funding availability.
- Identify and manage cash related risks, such as liquidity risk, currency risk and operational risk. Develop appropriate risk policies and controls.
- Generates regular reports and analysis related to cash management activities such as key performance indicators (KPIs), KRIs, and SLAs.
Required Skills
- Excellent knowledge of wire transfer systems, processes, and regulations, such as SWIFT, Fedwire, ACH, OFAC, BSA, AML, and KYC.
- Excellent leadership, management, and communication skills, with the ability to motivate and inspire teams.
- High attention to detail, accuracy, and quality, with the ability to handle multiple tasks and prioritize effectively.
- Excellent analytical, problem-solving, and decision-making skills, with the ability to identify and resolve issues in a timely and effective manner.
- Proficient in Microsoft Office applications, and familiar with wire transfer and investigations software and tools.
- High School diploma or GED.
- Minimum of 10 years of experience in wire transfer operations and investigations, preferably in a banking or financial services environment.
- Bachelor's degree in finance, accounting, business administration, or experience in related field.