The Wire Analyst will be instrumental in ensuring the accuracy and compliance of wire transfers, with a particular emphasis on adherence to Travel Rule violations. This position will conduct quality control checks to verify that wire transactions meet all compliance requirements, minimizing risk and ensuring that our operations adhere to regulatory standards.
Main Job Tasks & Responsibilities:
- Perform thorough quality control reviews of wire transfer transactions to ensure accuracy and compliance with internal policies and Travel Rule regulations.
- Conduct detailed screenings of daily wire transfer data to ensure no Travel Rule violations and nested Third Party senders.
- Identify and document discrepancies or errors in wire transfer processes, including issues related to Travel Rule compliance.
- Prepare and present comprehensive reports on QC findings, compliance status, and Travel Rule related issues to management.
- Recommend and implement enhancements to wire transfer processes and compliance controls to improve efficiency and reduce error rates.
- Work closely with compliance, operations, and legal teams to address complex issues and ensure adherence to regulatory standards.
- Assist in training and guiding team members on Travel Rule regulations and QC best practices.
Education & Experience:
- Minimum of 2-3 years of experience in a wire transfer or quality control role within a financial institution, with a focus on BSA Travel Rule regulation.
- Strong understanding of wire processing, Travel Rule regulations, financial crime prevention.
- Bachelor’s degree in Finance, Business Administration, or a related field preferred.
- Exceptional analytical skills with a strong focus on accuracy and thoroughness in transaction reviews.
- Excellent verbal and written communication skills for effective reporting and collaboration with team members.
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