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VP, Wire Transfers Manager
Wintrust
Rosemont, IL, United States
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Description
The Wire Transfer Manager is responsible for the administration of the Bank's wire transfer systems, and related products and services. Manages and leads a team of wire transfer staff. Oversees the Bank's participation with Fundtech and the Federal Reserve Wire Transfer System, which enables the creation and transmission of payment messages, account balance monitoring, and other related fiduciary and funds transfer functions. In addition, manages the SWIFT and other wire correspondent banking wire systems. Works closely with Fundtech, other correspondent banking wire systems, Wintrust Management, and completes the necessary accounting documents for all transfers and complies with regulatory authorities (federal and state) regarding funds transfer policy, compliance, physical and logical security, contingency plans, and overall systems administration. Contributes to the Bank's deposit growth strategies and goals; generates additional revenue from wire transfer products and services; attains established individual, department and Bank goals. Investigates and researches disputes, suspicious or fraudulent issues in accordance with state and federal regulations. Performs direct supervisory duties of department staff and coordinates staff for coverage in all related areas.
Key Accountabilities:
• Manage daily operations of the wire transfer functions of the bank, including timely, accurately, efficiently processing and documentation of all incoming & outgoing domestic, US Dollar, foreign currency international wire transactions requests; processing general ledger entries related to customer and other entries as needed; preparation of daily wire logs; and daily settlement of the bank’s wire transfer system against FRB.
• Ensure that all wire transfer requests are in compliance with the Bank’s Wire Transfer policy, directives and procedures, as well as all legal and regulatory guidelines.
• Minimize / eliminate potential loss to Wintrust Financial Banks through understanding of Federal Regulations that govern Wire transfer transactions.
• Assists in preparing annual evaluations of wire department staff. Provide training and direction to staff and promote empowerment and teamwork within the department, as well as individual staff development.
• Ensure all controls and supports are in place in accordance with Bank Polices, directives and procedures related to wire Transfers.
• Continually evaluate established policy and procedures related to wire transfers and update or modify them as necessary.
• Responsible for implementing new technology or procedures as needed to improve efficiency and productivity of the wire transfer department.
• Coordinate and assist with internal audit of the wire transfer function, including; evaluate, respond and correct and audit exceptions or concerns related to wires.
• Responsible for the department’s budget and managing the department to those goals.
• Have a thorough understanding of the bank’s BSA/AML policy and procedures and maintain procedures for compliance as well as assure appropriate means for detection and communication of suspicious activity is adopted in areas of responsibility.
Secondary Duties:
• Assists customers with activating Wire authentication PIN.
• Monitor status of online interfaces to ensure all communications lines are functional and resolved any problems with appropriate vendors.
• Implements immediate problem resolution process when there are system issues.
• Provides support to other Bank department team members including but not limited to resolving or escalation of issue.
• Performs wire related research and response to customer wire inquiries, other department inquires, subpoenas requests are addressed in a timely and accurate manner.
• Monitor, review and release wire from all online queues and perform duties as needed to ensure work is processed in a timely, efficient manner and meets all established guidelines.
• Perform end of day balancing procedures to ensure successful and accurate upload of daily wire transactions to Host system.
• Maintain Wire System application including user profiles, customer profiles, permissions, templates; perform start and end of day functions.
• Perform other duties as required.
Qualifications
• Bachelor’s Degree in accounting, finance or business
• Minimum of 8 years’ experience in banking or related experience
• Experience processing domestic and foreign wire transfers
• Management experience required
• Supervise approximately nine or more wire transfer clerks
• Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws
• May participate in training employees; evaluating employees performance, planning, assigning, and directing work
• Addresses employees’ complaints and resolves problems
• Ability to effectively present information and respond to questions from groups of managers, clients, customers and BSA Officer. Ability to read, analyze, and interprets general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals
• Ability to calculate figures and amounts such as interest, percentages, and volume
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form. Ability to review and analyze financial data and draw logical conclusions
• To perform this job successfully, an individual should have knowledge of MS Office: Word, Excel, PowerPoint & Outlook
Wintrust Financial Corporation (Wintrust) is a financial services holding company based in Rosemont, Illinois, with assets above $27 billion. We engage in the business of providing traditional community banking services, commercial banking, wealth management services, commercial insurance premium financing, life insurance premium financing, mortgage origination, short-term accounts receivable financing, and certain administrative services, such as data processing of payrolls, billing and treasury management services. We provide community-oriented, personal and commercial banking services to customers located in the greater Chicago, Illinois and southern Wisconsin metropolitan areas through its 15 wholly owned banking subsidiaries.
We provide an engaging, dynamic work environment, an excellent compensation package including 401k, employee stock purchase plan, medical/dental, life insurance and more!
Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, ethnicity, gender, sexual orientation, gender identity, national origin, veteran status, or disability.