Dept Manager, Wire Transfer & Inv

Company:

Valley Bank Location:

Clifton, NJ Career Level:

Mid-Senior Level Industries:

Banking, Insurance, Financial Services Description Responsibilities include but are not limited to: Manage the wire transfer and investigations teams, including hiring, training, coaching, and performance evaluation. Ensure that all wire transfer requests are verified, authorized, and executed in a timely and secure manner. Monitor and analyze wire transfer volumes, trends, and issues, and implement process improvements and risk mitigation strategies. Develop and maintain policies and procedures for wire transfer operations and investigations, and ensure compliance with federal, state, and local regulations, as well as industry best practices and standards. Conduct or supervise investigations of suspicious or fraudulent wire transfer activities and prepare reports and recommendations for management and regulatory agencies. Coordinate with internal and external auditors, regulators, law enforcement, and other stakeholders on wire transfer and investigations matters. Provide guidance and support to wire transfer and investigations staff on complex or escalated cases. Stay abreast of the latest developments and trends in wire transfer and investigations and participate in relevant industry forums and associations. Oversee the monitoring of wire transfer money movements at the FED, The Clearing House and correspondent banks to ensure proper funding availability. Identify and manage cash related risks, such as liquidity risk, currency risk and operational risk. Develop appropriate risk policies and controls. Generates regular reports and analysis related to cash management activities such as key performance indicators (KPIs), KRIs, and SLAs.