Operations Associate (Documentation and Guarantees)

Summary of the position

• Processing/validate SG/HK/AUS trade commodities transactions (import letter of credit issuance, financing, guarantee issuance, export letter of credit advising, payment)
• Liaise with HK and India with regards to confirmation of export lc and discounting
• Vetting of LC text and assist client in any queries related to their transactions
• Perform document checking for both import/export LC documents

Main Responsibilities

Ensure Back-Office processing of transactions and manage Operational risk

• within acceptable technical risks and in compliance with bank’s rules and operation procedures
• in conformity with conditions of transaction details
• timely and accurately in relevant systems with correct data and posting of entries to P&L accounts
• timely and accurately in all life events including payment, funding and resolution of suspense items
• Provide good customer services by maintaining good relationship with external and internal parties

Business continuity

• provide effective back-up for the team
• work closely with other TCF teams wherever necessary

Main duties details

• First check and/or counter-check import/export LC documents according to UCP600
• Review customer applications and clarify with customers on ambiguous terms, if any
• Ensure transactions are processed in conformity with transaction details
• Monitor payment/acceptance of import/export bills and ensure notice of refusal are sent within time allowed as per documentation
• Ensure data and accounting entry input into BO system are accurate
• Perform compliance check and vessel screening

Legal And Regulatory Responsibilities

• Comply with all applicable legal, regulatory and internal Compliance requirements, including, but not limited to, the Singapore Compliance manual and Compliance policies and procedures as issued from time to time; Financial Security requirements, including, but not limited to, the prevention of Financial Crime and Fraud including reporting obligations to the Money Laundering Reporting Officer/Compliance Officer.
• Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training as required to attain and maintain competence.

Secondary Duties

• Other duties as and when may be assigned by Dept Head

Qualification required -

• Minimum 5 years of Commodity Trade Finance experience
• Well versed in UCP600, IBSP, ISP, Incoterms
• CDCS certification will be preferred