Foreign Exchange Specialist

Service Credit Union•Portsmouth, NH

4d•Onsite

About The Position

Responsible for the general operations and administration of foreign exchange (FE) services. This role encompasses a diverse range of services available to our global membership through various communication channels. These services include international bill payments, the V PAY card platform, Banknote orders, and the management of foreign currency transactions. Functions as a primary point of contact for all Service CU branch offices, member inquiries, and communication with financial institutions, both in the U.S. and in foreign locations. “Members are the priority at Service Credit Union, and every role at the credit union is responsible for supporting member solutions and contributing positively to the member experience.”

Requirements

Strong administrative, mathematical, presentation and organizational skills.
Must have excellent verbal and written communication skills.
Demonstrate a high level of attention to detail and time management skills.
Strong interpersonal skills, including the ability to effectively communicate and work as a team, to complete daily tasks and fulfill time constraints.
Aptitude for detail-oriented work and complex problem-solving.
Functional grasp of statistics and ability to use analytical techniques.
Proficient in currency exchange regulations and an understanding of the international financial markets.
Capable of working autonomously in a fast-paced environment, while managing multiple tasks to completion.
Willing to work additional hours, when necessary, even in inclement weather conditions, due to the mission essential status of the department.
Ability to adapt to new technological concepts quickly as it becomes applicable for the department.
Proficiency with Microsoft Excel, Outlook, Word, PowerPoint, and various web-based applications required.
High School diploma or equivalent required.
1 - 3 years of relatable experience

Nice To Haves

Proficiency in the German language is highly desired. (Defined as the ability to read, write, and speak German without assistance).

Responsibilities

Exceed member expectations by resolving complex foreign exchange inquiries through various communication channels.
Always willing to talk to members and work with the front lines to support them to the best of their ability.
Ensure responses to all inquiries from members and staff are addressed within the established SLA timeframe.
Serve as a subject matter expert (SME) on foreign exchange policies, procedures, software navigation and transaction inquiries for other departments and branches.
Communicate and work with U.S and European vendors as needed.
Acquire and maintain proficiency in operating Windows-based and specialized software for supporting FE services.
Administer, maintain, and support database of recurring member transfer requests, in various foreign currencies.
Manage, uphold, and facilitate the entire international bill pay services process. Responsible for guiding policy and procedures, as well as ensuring the timely processing of payments.
Maintain the timely and accurate preparation, processing and transmission of all incoming and outgoing debit and credit transactions within the European network. Understanding SEPA and SWIFT file formatting and messaging is essential.
Verify the execution of daily foreign currency batch processing on member accounts and the general ledger. Conduct account research for redirected payments and accurately process returned credits and debits in compliance with established SEPA and SWIFT regulations.
Oversee the V PAY card plastic database, encompassing weekly ordering, annual renewals, and card maintenance requests.
Identify cross-sell opportunities within the Credit Union during member interactions.
Manage the foreign exchange Banknote service, to include the tracking of all order details and the completion of exchange or return orders.
Responsible for researching and resolving any transactions that encounter issues or are returned for any reason, which may involve coordinating with branch offices, members, or other financial institutions.
Conduct daily and monthly reconciliations of all FE related general ledgers, converting to USD value, which includes calculating and entering gain/loss and income adjustments.
Perform reconciliations of all foreign-exchange related bank accounts against the general ledger, verify that all items on bank statements are accurately reflected or appropriately disputed if unauthorized. Process any returned currency items as required.
Extensive research within multiple general ledgers may be necessary, and this role may require serving as the primary point of contact for any general ledger variances affecting other departments, fostering collaboration towards resolution.
Assists other corporate departments in special handling of international bill payments such as, but not limited to, Credit Union invoices, frozen accounts, and court levies.
Responsible for accurately updating and maintaining the foreign currency exchange rates in all credit union applicable programs and channels.
Must understand the complexity of foreign exchange markets and the significant influence of exchange rate fluctuations on payment transactions to effectively educate members.
Responsible for the recording and tracking of all FE statistical data through daily, and annual reporting efforts. Adhere to record retention policies for auditing and research purposes.
Follow compliance regulations and company policies in all FE related services.
Serve as the subject matter expert for all FE related training materials within the Credit Union and support the training department in educating front-line credit union personnel.
Assist upper management in the planning, implementation and testing of all new FE service-related applications; this can include assisting branches and members with additional training or guidance as well as supporting the training department by reviewing training material.
Remain proactive in monitoring FE services to ensure the accomplishment of credit union goals and objectives.
Support upper management with the implementation of new products, services, policies, and procedures as necessary.
Maintain the highest level of confidentiality regarding company policies and procedures, member financial data, personal information, and work-related events.
Provide high-quality support and maintain professional relationships with colleagues, management, other staff, members, and vendors, by fostering cooperation, mutual trust, and respect.
Regular and reliable attendance is an essential function of this position.
Perform other duties as required.