Wire Transfer Specialist

Merchants Bank•Winona, MN

2d•Onsite

About The Position

Merchants Bank, Winona, has an opening for a Wire Transfer Specialist II. The hours for this position will generally be Monday through Friday between 8am – 5pm. This position is responsible for advanced wire transfer operations and funds management. Will maintain required balances with correspondent banks and the Federal Reserve Bank, as well as the purchase and sale of Fed Funds. The individual in this role will process ACH files and service daily wire transfer needs of customers. This role requires thorough knowledge of ACH, Fedline requirements, general ledger accounting and expertise in wire transfers—incoming and outgoing, domestic and international wires.

Requirements

5+ years experience in wire transfer or treasury management desired.
Associate’s degree in business or related field preferred.
Must have excellent communication skills.
5-7 years of Wire Transfer or Treasury Management experience.
Extensive knowledge of Wire Processing and ACH activities as well as associated compliance and risk policies and procedures.
Knowledge of banking systems, products and services.
Excellent interpersonal skills required.
Ability to work on various duties with interruptions.
Skill in customer relations, such as the ability to respond with sensitivity and sense of urgency to customer needs or requests.
Strong planning ability, attention to details, and the ability to work in a self-directed manner.
Requires ability to articulate clearly.

Nice To Haves

Associate’s degree in business or related field preferred.

Responsibilities

Process incoming and outgoing wire transfers, on both a domestic and international basis, Merchants Financial Group, Inc., affiliate bank personnel, as well as downstream correspondent banks.
Return social security for deceased customers and track Social Security payments after reclamation notice is received.
Reconcile wire transfers and cash letter remittances to the Federal Reserve.
Check OFAC on incoming ACH files (foreign ACH transactions)
Confirm origination files in Fed
Interact with upstream correspondent banks and maintain required balances.
Reconcile general ledger accounts.
Send or reposition securities via Fedline.
Monitor balances at the Federal Reserve Bank to avoid daylight overdrafts and ensure proper funds management.
Coordinate necessary funds transfers to facilitate daily liquidity position for the banks involved.
Settlement of funds with large correspondent banks at the end of each day.
Printing statements and processing service charges for each correspondent monthly.
Provide superior customer service, while managing risk, engaging with internal and external customers including bank staff, bank customers and Correspondent Banks, as well as Vendors (Fedline, wire processing provider, etc.).
Responsible for training Wire Transfer Specialist I as well as assigned back-up personnel to the team.
Create, revise and document departmental procedures and best practices.
Maintain accurate digital records
Printing Internal account statements and balance monthly.
Participate in cross functional teams, representing deposit support.
Will work with manager on specialist projects and system implementation projects, including testing and error resolution.
Maintain a neat and orderly work area and adhere to customer privacy requirements.
Regular and dependable attendance is an essential function of the job.
Provide exceptional customer experience when assisting internal and external customers.
Employee may be asked to perform other duties as required by business needs.
Employee will be expected to complete compliance and product knowledge assignments in a timely manner.