Officer Trade Finance Operations

JOB PURPOSE:

Process daily transactions related to Trade Finance Back Office smoothly, efficiently and effectively as per agreed SoD matrix agreed by line manager. In addition, to ensure all transactions approved through Middle Office prior processing.

• To resolve operational issues promptly and comply with escalation procedures so as to effectively reduce exposure and control risks.
• To ensure that the daily processing and reporting functions and procedures are performed accurately and promptly complying with internal and external controls and other relevant regulatory directives escalating any issues to the section head immediately.

• Support Back-Office in origination and execution of trade transactions.
• Close co-operation with Middle Office teams and Other LOBs (Compliance, Legal, Risks…) in connection with all Back office operational issues.
• Ensure adherence to Sanctions compliance, Anti Money Laundering and any local regulations.
• To build strong working relationships with Business counterparts, Support Services and to maximize co-operation for effective results.
• To work closely with the Section Head to ensure that the operations objectives and initiatives are met and the operational problems are resolved promptly and effectively.
• To continuously challenge processing, execution based on day-to-day experience to maximize automation opportunities whenever possible to improve workflows and cost efficiencies and reduce operational risks
• To serve as backup to team members when the need arises.

• Ensure that the parameters laid down in the Bank’s operations manual, local laws, Bank Policies and Central Bank of Oman and UAE requirements are strictly complied with.
• Adequate technical trade knowledge and familiar with UCP
  600, ISBP, ISP 98, URC
  522, URR 525. Request for clearance for issue/establish guarantees and letters of credit from the credit department
• Ensure posting for all trade finance vouchers in accordance with the bank’s policies and procedures
• Provide support and assistance to Regional Branches in Oman and liaise between regional branches, departments HO and other departments in Oman/Abu Dhabi.
• Handle and resolve customer claims and queries received through Middle Office expediently.
• Facilitate the day-to-day operations by preparing vouchers/reports and various GL accounts
• Improve operational efficiency by analyzing existing work methods and developing upon them
• Review & assist in revising the existing processes/procedure from time to time
• Perform Balancing of GLs assigned or whenever is required.
• Handle all correspondences related to Trade Finance operations, review and rectify discrepancies in reports, balance sheet and other related financial reports
• Liaise with internal and external auditors and CBO examiners
• Provide continuous suggestions / feedback to improve efficiency and to provide cost-effective solutions
• Maintain all required reports and ensure all reports required are prepared and checked within the time.
• Ensure CBO/Head Office returns report are sent on time.
• Help in developing reports that related to TFO within the system capability and beyond using excel sheet whenever is required. Analyze all other weaknesses that exist and work to resolve them gradually.
• Report all un-usual incidents to line manager/Manager Operations/Head of Operations whenever is happened.
• Handle inward correspondences related to the Trade Finance operations, review, and rectify discrepancies in reports, balance sheet and other related financial reports.

• Diploma/degree in Banking and Finance or related discipline.

• In-depth knowledge of trade products (L/Cs, SBLCs, guarantees, etc.) with minimum five years of proven experience.
• Familiarity with AML/compliance methodologies and tools.
• Ability to spot, understand and solve issues, develop and recommend alternatives or solutions.
• Ability to elevate in an adequate manner.
• Good interpersonal skills including ability to establish and maintain good working relationships both internally and externally.
• Administrative, organizational and time management skills.
• Above average written and verbal communication skills