WIRE AND ACH FUNDS TRANSFER ASSOCIATE

Wire and ACH Funds Transfer Associate

The Wire and ACH Funds Transfer Associate supports Wire and ACH processing, Digital Banking, and Cash Management product services. The role focuses on processing and servicing Wire and ACH funds transfer requests, ensuring accuracy and compliance. It involves fraud mitigation, transaction review, and profile analysis. The associate is responsible for adhering to Digital Banking policies and regulations, including Anti-Money Laundering, Bank Secrecy Act (AML/BSA), OFAC, and Identity Theft programs to prevent fraudulent activities. Additionally, the position handles compliance with bank policies, including authentication and verification processes for secure transfers.

This role also includes end-of-day settlement functions, GL reconciliation, and other related tasks. The associate ensures compliance with ACH and Wire transfer regulations, operating as ODFI, RDFI, Originator, and Receiver.

Essential Duties and Responsibilities: Other duties may be assigned.

ACH Processing and Risk Mitigation

1. Process daily ACH originations, including transmitting files, creating notices, and handling returns and reversals.
2. Ensure timely and accurate processing of ACH files from customers.
3. Investigate disputes or suspicious activity and report fraud to the Risk Analyst, CTO, and Director of Operations/BSA Officer.
4. Understand and apply NACHA rules and current banking regulations.
5. Have knowledge of ACH file processing and OFAC rules as they relate to ACH transactions.

Wire Processing and Risk Mitigation

1. Process wire transfers through DirectLine Wire, verifying client information and OFAC lists before executing transactions.
2. Ensure wire requests are timely and follow proper protocols and verification processes.
3. Perform secondary call-backs based on wire policy and customer instructions to prevent fraud.
4. Process incoming wires accurately, verifying account numbers and beneficiary details.
5. Monitor transactions through DirectLine Wire, ensuring proper processing.
6. Investigate and report suspicious or fraudulent activity as per regulations.
7. Download wire activity reports for compliance and conduct necessary searches.
8. Understand and apply OFAC rules to wire processing and audit requirements.

Other Duties

1. Review system reports, perform daily/monthly reconciliations, and resolve outstanding items.
2. Prepare reports and correspondence.
3. Participate in special department projects.
4. Gather audit documentation as requested.
5. Perform additional tasks as directed by management or the Digital Banking Operations Risk Analyst.
6. Support Digital Banking and Cash Management services, including client profile setup and maintenance.

Benefits Available

• Health Insurance
• Dental Insurance
• Vision Insurance
• Life Insurance
• Dependent Life Package
• Accidental Death and Dismemberment Insurance (AD&D)
• Salary Continuation
• Long-Term Disability
• Voluntary Life Insurance for Employee, Spouse, and Child(ren)
• Voluntary Accidental Death and Dismemberment Insurance (AD&D) for Employee, Spouse, and Child(ren)
• Health Savings Account
• Flexible Spending Accounts
• 401(k) with 4% employer match
• 21 Days of PTO, accrued per pay period
• Employee Incentive Program
• Highland Bank
• Your Business. Our Bank
• Highland Bank is an Equal Opportunity Employer