Wire Investigation Specialist

Banesco USA• Miami, FL, US, FL

About The Position

The Wire Processing Specialist / Wire Investigations is responsible for daily wire transactions and complex wire investigations. This position ensures that all incoming, outgoing, and internal wires are processed with urgency, accuracy, and compliance, while taking full ownership of researching discrepancies, resolving client and bank inquiries, and clearing related general ledger accounts.

Requirements

Associate’s degree (AA) in Business or equivalent combination of education and experience.
Two (2) to five (5) years of experience in a bank wire transfer department.
Must be bilingual in both English and Spanish. Ability to fluently speak, understand, read, and write both languages in a professional environment.
Intermediate computer skills including, but not limited to, Microsoft Office (Word, Excel, PowerPoint), core wire systems, online banking terminals, and SWIFT applications.
Strong knowledge of related state and federal banking compliance regulations (BSA/AML, OFAC, FATCA, Dodd-Frank Remittance Transfer rules, Travel Rule), Bank operational policies, and products/services.
Exceptional attention to detail and accuracy, strong multi-tasking and time-management skills, sound problem-solving abilities, strong verbal/written communication skills, and high customer service standards.

Responsibilities

Responsible for preparing, processing, and executing incoming, outgoing, and internal payments, domestic and international wire transfers, including foreign currency transactions, ensuring all transactions are processed with urgency and in a timely manner.
Monitors the Online Banking, SWIFT, and Fedwire channels throughout the day to ensure all incoming and outgoing transactions are received, executed accurately, maintained in completed status, and reconciled against core system balances.
Responsible for preparing outgoing wire transfers with correct receiving and correspondent bank details for settlement and payment processing.
Responsible for completing, organizing, and maintaining accurate documentation for all wire transfer files and daily system operational tasks.
Responsible for researching, analyzing, and resolving inquiries, disputes, and discrepancies noted by internal and external clients, account officers, or counterpart financial institutions.
Responsible for drafting, sending, and receiving Fedwire and SWIFT administrative messages, as well as conducting direct communications (via phone or email), with all intermediary and correspondent banks involved in order to resolve wire transfer investigations in a timely manner.
Responsible for contacting account officers as needed to gather necessary approvals or communicate with clients.
Responsible for making all accounting entries necessary to settle, adjust, and complete an investigation.
Responsible for managing, reconciling, and clearing the daily general ledger (GL) accounts tied to wire transfers and investigations.
Responsible for documenting, maintaining, and updating investigation files and tracking logs for monthly operational and management reviews.
Responsible for conducting initial OFAC screening reviews and determining if potential matches need to be escalated to the BSA department for further review.
Work closely with compliance teams to address flagged transactions and follow up on necessary documentation to ensure swift resolution and mitigate risk.
Responsible for checking the FATCA list to ensure compliance prior to sending outgoing international wire transfers.
Comply with all federal, state, and local banking regulations including the Travel Rule, FATCA, BSA/AML, and Dodd-Frank Remittance Transfer rules.
Comply with all Bank BSA/AML policies and maintain a working knowledge of anti-money laundering regulations in order to properly detect, document, and report unusual or suspicious activities.
Abide by and follow the bank’s Enterprise Risk Management (ERM) Policy to proactively identify, prioritize, and manage operational risks within daily activities.
Consistently apply sound decision-making techniques pertaining to inquiries and requests as they apply to the policies and procedures of the bank.
Responsible for providing wire processing and investigation support to all bank departments where service or assistance is needed.
Educate internal teams on wire policies and best practices.
Comply with and follow remittance transfer (Dodd-Frank) wire investigation regulatory procedures, ensuring full adherence to Regulation E Subpart B requirements, mandatory investigation timelines, written findings notifications, and required sender remedies.
Responds to inquiries or refers inquiries to the appropriate department or person, exhibiting necessary follow-through with customers, staff, and third parties.
Treats people with respect, keeps commitments, inspires trust, works with integrity, upholds organizational values, and accepts responsibility for own actions.
Attends mandatory annual BSA/AML training as assigned by the BSA Officer and completes all required annual compliance training programs.
Performs other operational functions and/or duties as assigned.