Dept Manager, Wire Transfer & Inv

Valley Bank•Clifton, NJ

About The Position

Responsibilities include but are not limited to: 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.

Requirements

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.

Nice To Haves

Bachelor's degree in finance, accounting, business administration, or experience in related field.

Responsibilities

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.