November 15, 2022
Location: Brookings, SD or Sioux Falls, SD
Works as part of a team that performs diversified duties. Ensure that proper procedures have been followed by FBT staff when taking wire transfer requests from customers, as set procedures mitigate fraud risk. Ensure proper and timely processing of all bank and customer wire transfer activities or any other transactions overseen by the Wire Desk.
This person should have at a minimum of an Associate’s Degree, plus two years of experience in a related business field, preferably in a banking environment. Because this person works directly with customers and other bank departments, good communication and customer service skills are essential. Must be able to work under pressure and be able to meet deadlines. Excel experience preferred.
1. Receive, review, and process all incoming wires and outgoing wire requests for internal and external customers. Ensure proper and timely processing, posting, and notification of all wire transactions when procedures have been correctly followed, including verification of customer identification, wire amounts, financial institutions, and account beneficiaries of outgoing wires. Quarantine and follow up on any requests submitted where procedures have not been correctly followed. Maintain high-level, dual control standard of accuracy wherever dual control is required in the wire transfer process and, whenever possible, even where dual control is not required.
2. Provide appropriate and, if possible, timely feedback on any customer or department research requests on previous and/or current wire transfers.
3. Maintain all wire records in Microsoft SharePoint and update wire totals on a monthly basis. Provide BSA officers with updates on all foreign wire transfer activity, both quarterly and as requested. Adhere to compliance procedures and participate in required compliance training. Recognize suspicious or unusual wire transfer activity and escalate to the appropriate level.
4. Monitor activity and control daily target balances at the Federal Home Loan Bank of Des Moines. Ensure that transactions are processed in a timely fashion, including but not limited to advances, stock purchases, monthly interest and charges, as well as bond purchases, sales, and interest payments. Coordinate with Mortgage Loan Servicing to eliminate any outstanding balances related to loan funding.
5. Monitor and control daily target balances for the bank’s Federal Reserve account and assure compliance with Federal Reserve Daylight Overdraft Policy. Record all daily transactions which affect the account balance on the Daily Projection Sheets. Monitor large customer wire transfers and notify the appropriate personnel to anticipate funding changes.
6. Ensure accurate and timely processing of Time Certificate purchases, maturities and interest payments, as well as any Fed currency order and sell requests for all locations. Track interest payments received for Time Certificates and notify the Treasury Analyst of any unusual activity. Monitor Federal Reserve balances for currency transactions and post any new transactions to the proper charter/branch general ledger accounts as they occur.
7. Monitor the Fed Funds position for affiliate and correspondent banks and notify the appropriate personnel when the Fed Funds position is nearing policy limits.
8. Maintain reconciliations on SharePoint for all affiliate banks and FFC. Reconcile various other general ledger accounts daily and communicate with the banks or departments of outstanding items. Assure they are corrected on a timely basis.
9. Assist the Wire Desk Supervisor with research of request information for internal or external audits and exams.
10. Regularly participate in Wire Desk team meetings and, as often as possible, participate in any training opportunities offered to improve wire transfer processing. Suggest improvements to make the wire process or account reconciliation process more efficient.
11. Act in accordance with FBT policies and procedures as set forth in the employee handbook.
12. Adhere to compliance procedures and participate in required compliance training.
First Bank & Trust is an Equal Opportunity, Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability, or status as a protected veteran. Read our complete Equal Employment Opportunity Policy Statement(Opens in a new Window). Applicants who would like to request reasonable accommodation to the application or interview process should call Human Resources at 800.843.1552 or email email@example.com.