Banking Operations Specialist

Job Description

We are seeking a detail-oriented and experienced Banking Operations Specialist to join our financial client. This role is crucial for ensuring the accurate, timely, and secure processing of domestic and international wire transfers, adhering strictly to regulatory requirements and internal policies. The ideal candidate will possess a strong understanding of payment systems, compliance regulations, and excellent problem-solving abilities.

Responsibilities:

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• Process incoming and outgoing domestic and international wire transfers accurately and efficiently within established deadlines.
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• Verify all wire instructions, beneficiary details, and payment amounts for accuracy and completeness.
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• Ensure compliance with all relevant regulations, including OFAC, AML, and BSA, as well as internal policies and procedures.
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• Monitor wire queues and systems for pending transactions and resolve discrepancies promptly.
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• Perform daily reconciliation of wire activity to ensure all transactions are accounted for and balanced.
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• Research and resolve issues related to rejected wires, payment inquiries, and discrepancies.
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• Communicate effectively with internal departments and external financial institutions to resolve payment-related issues.
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• Identify and report suspicious activity or potential fraud to the appropriate compliance teams.
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• Stay current with industry regulations (e.g., FINRA, Federal Reserve rules) and best practices for wire operations.
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• Maintain accurate records and documentation for all wire transactions.
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• Respond to inquiries from clients and internal staff regarding wire transfer status, requirements, and procedures.
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• Provide clear and concise information to assist with wire initiation and troubleshooting.
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• Utilize various wire transfer platforms and banking systems proficiently.
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• Participate in testing and implementation of new systems or enhancements related to wire operations.
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Qualifications:

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• Bachelor's degree in Finance, Business Administration, or a related field, or equivalent work experience.
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• 2+ years of experience in wire operations, payment processing, or a similar role within a financial institution.
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• Strong understanding of domestic (e.g., Fedwire, ACH) and international (e.g., SWIFT) wire transfer protocols and regulations.
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• Familiarity with OFAC, AML, BSA, and other relevant financial crime compliance regulations.
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• Exceptional attention to detail and accuracy.
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• Excellent analytical and problem-solving skills.
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• Strong verbal and written communication skills.
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• Proficiency in Microsoft Office Suite, especially Excel.
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• Ability to work independently and as part of a team in a fast-paced environment.
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• Ability to maintain confidentiality and handle sensitive financial information.
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