Wire Transfer Supervisor - Oak Brook, United States - Republic Bank of Chicago

Republic Bank of Chicago

Verified Company

Oak Brook, United States

2 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Team Management:
Supervise a team of wire transfer specialists, providing guidance, training, and support as needed.
Monitor team performance and implement strategies for streamlining approvals, decreasing processing time and shriving for 100% accuracy.
Foster a positive and collaborative work environment that encourages teamwork and accountability.
Wire Transfer Processing:
Oversee the processing of incoming and outgoing wire transfer requests in accordance with established procedures and deadlines.
Review and approve highvalue or highrisk transactions, ensuring accuracy and compliance with regulatory guidelines.
Investigate and resolve any discrepancies or issues related to wire transfers, collaborating with team members and other departments as necessary.
Compliance and Risk Management:
Ensure adherence to regulatory requirements, including Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC) and Know Your Customer (KYC) guidelines.
Implement and enforce internal controls to mitigate risks associated with wire transfer activities.
Stay updated on regulatory changes and industry best practices, adjusting procedures and protocols as needed.
Customer Service:
Serve as a point of escalation for customer inquiries or concerns related to wire transfers, resolving issues promptly and professionally.
Provide guidance to customers on wire transfer processes, fees, and timelines, ensuring a positive customer experience.
Collaborate with customer service representatives and relationship managers to address customer needs and enhance satisfaction.
Reporting and Analysis:
Generate reports on wire transfer activity, transaction volumes, and performance metrics for management review.
Analyze data trends and identify opportunities for process optimization, cost reduction, or service enhancement.
Prepare regular reports for regulatory agencies and auditors, ensuring compliance with reporting requirements.

Required Skills:

EDUCATION, EXPERIENCE, AND SKILLS:

Bachelor's degree in accounting, finance, business administration, or a related field. Relevant work experience may be considered in lieu of a degree.
Prior experience in a supervisory or leadership role within a banking or financial services environment, with specific experience in wire transfer operations preferred.
Strong understanding of banking regulations and compliance requirements related to wire transfers, including AML, KYC, and OFAC regulations.
Excellent analytical skills with the ability to interpret data, identify trends, and make informed decisions.
Effective communication skills, both verbal and written, with the ability to interact professionally with internal and external stakeholders.
Detailoriented with a focus on accuracy and quality in all aspects of work.
Ability to work independently, prioritize tasks, and manage multiple deadlines in a fastpaced environment.

Required Experience