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WIRE REQUEST PROCESS - Assessment

What is a Wire Transfer?
A. A request to pay bills initiated by the Client
B. A request to transfer money to the bank branch c. A request from the client to transfer funds to a specified recipient d. A request from the client to transfer funds to make a payment
C. A request from the client to transfer funds to a specified recipient
D. A request from the client to transfer funds to make a payment
On the Outgoing Payment Request (OPT) form there is information that is mandatory. Select the one that is NOT mandatory.
A. The branch that is being asked to complete the request
B. All fees and commissions
C. Name of Ordering Client
D. Beneficiary Address
E. Currency of payment
Payment instructions are provided by the Client and include the beneficiary and payment amount. The form used to relay payment instructions in called the Outgoing Payment Transfer form.
True
False
How can a wire payment request be initiated by the Client?
A. Via email
B. Online through the CMS
C. Via fax
D. Via third party , I.e. Bank branch
E. All of the answers listed
Once the Customer Service Officer – Origination receives an email request from the Client he/ she verifies the information on the Outgoing Payment Transfer (OPT) form prior to sending it to Processing
True
False
The Customer Service Officer – Verification reviews the OPT and enters the information in the Client Hub, creating a case.
True
False
When does the CSO – Verification conduct a Call Back? Select the correct answer(s).
A. When payment amount exceeds the wire payment profile threshold
B. When there is no payee named on the wire payment profile
C. When there is a missing fee amount
D. When there is no wire payment profile
E. When the payment is being directed to a beneficiary located in the USA
There are three key elements to the Wire request process – Review, Process and Approve.
True
False
Each role is critical to the Wire Request Process. In the manual process the first person to work with the request is the Customer Service Officer – Origination. Place the process steps that they need to complete in the correct order.
When the Customer Service Officer – Verification needs to do a call back they can use the contact information found on the email with the wire request.
True
False
What system does the CSO – Processing access to identify any duplicate transactions from the date the wire was requested until today.
A. Scotiabank Live
B. Client Hub
C. IBP
D. CMS
Who collects and files the vouchers and OPT forms at the end of the day?
A. CSO - Origination
B. Assistant Manager
C. CSO – Processing
D. CSO - Verification
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