Wire Department Manager

Job Purpose

The Wire Department Manager oversees all domestic and international wire transfer operations at First Federal Bank. This role ensures the accurate, secure, and timely processing of funds while maintaining full compliance with federal regulations, internal policies, and risk management standards.

Essential Functions And Responsibilities

• Oversee daily processing of incoming and outgoing wire transfers through SWIFT and Fedwire systems, ensuring strict adherence to deadlines and service level standards.
• Ensure compliance with all applicable regulations, including OFAC, Anti-Money Laundering (AML) requirements, Dodd-Frank, and Regulation E.
• Monitor transactions for suspicious activity and escalate concerns in accordance with BSA/AML policies.
• Coincide with the Fraud Department as needed.
• Investigate and resolve wire discrepancies, customer disputes, and potentially fraudulent activity in a timely and professional manner.
• Supervise, train, and mentor wire department staff; manage scheduling, performance evaluations, and professional development.
• Maintain approved wire authorities and review requests for temporary wire limit increases.
• Support daily balancing of wire accounts and ensure accurate reconciliation.
• Prepare and review monthly and quarterly reports to identify trends, operational risks, and improvement opportunities.
• Coincide wire activity with lending, treasury management, branch operations, and other internal departments.
• Aid with internal and external audits, regulatory examinations, and compliance reviews.
• Perform system testing, upgrades, and implementation of wire processing enhancements.
• Provide the best service to our customers with innovative and creative solutions.

Qualifications And Requirements

• Education & Experience: 3–7 years of banking experience with a strong focus on wire transfer operations. Minimum 1–3 years of supervisory or management experience preferred. High school diploma required. Bachelor’s degree in finance, Business Administration, or related field preferred.
• Knowledge: Comprehensive understanding of wire transfer systems (SWIFT, Fedwire) and banking operations. Strong knowledge of regulatory requirements, including OFAC, BSA/AML, Dodd-Frank, and Regulation E. Familiarity with internal controls, fraud prevention, and risk mitigation practices.
• Skills And Abilities: Excellent analytical and problem-solving skills. High level of accuracy and attention to detail. Strong leadership and team development skills. Effective written and verbal communication abilities. Proficiency in Microsoft Office applications, particularly Excel and Word. Self-motivated and works well as part of a team.

Physical & Work Requirements

• Primarily sedentary role requiring extended periods of computer use.
• Occasional travel to branch locations or training sessions may be required.