- Singapore
The Bank Of East Asia, Limited Hiring! Full Time Trade Services Manager in - Ricebowl
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Job Description
Responsibilities
Responsibilities:
- Responsible for independent verification and authorisation of trade finance transactions and supporting documents, ensuring accuracy, completeness, and strict compliance with internal policies, credit approvals, and international trade rules.
- Perform end-to-end checking and authorisation of trade transactions under four-eye principle. Handle trade products including Letter of Credit, Guarantees, Collections, and Trade finance transactions.
- Ensure adherence to international trade rules including UCP600, ISBP, URC522, ISP98, and URDG758.
- Ensure compliance with AML, sanctions screening requirements, and Trade-Based Money Laundering (TBML) controls.
- Perform risk-based assessment during trade document checking, including operational, documentary, and compliance risks.
- Ensure timely processing of transactions in line with service standards and operational cut-offs, and resolve documentary discrepancies with internal and/ or external stakeholders and ensure completion of outstanding cases.
- Monitor pending transactions, exception items, and outstanding discrepancies to ensure timely follow-up and resolution. Escalate risks and control issues appropriately in line with operational procedures.
- Support Head of Department and Team Lead in reviewing and updating operational procedures, work instructions and support implementation of policy or procedures changes within the team.
- Be aware of the compliance responsibilities of the bank especially in i) monitoring of anti-money laundering and anti-terrorist financing in relation to customer transactions, ii) Detection of tax crime and iii) Terrorism.
- Provide guidance and support junior checkers, and makers on trade documentation requirements and procedures. Share practical knowledge and support onboarding of new team members.
- Contribute to consistent application of trade rules and operational standards with the team.
- Involve in system testing, preparation of test scripts for UAT and responsible for timely completion of testing as well as ad-hoc project to improve the department's performance and profitability.
- Responsible for identifying, escalating, and following -up on regulatory breaches, compliance risks, and audit findings.
- Able to lead ad-hoc projects to improve department's performance and profitability and cover for Trade finance Managers/ Officers.
Requirements:
- Degree in Banking and Finance / Business Administration.
- Minimum 5 years of hands-on trade finance document checking experience in banking Operations, preferably in Trade Finance Operations.
- Strong knowledge of Trade finance products including LCs, Guarantees, Collections, and Trade Loans.
- Experience in checker or authoriser role within a controlled operational environment.
- Good understanding and knowledge of International Trade settlements.
- Good understanding of international trade rules and compliance standards.
- Comprehensive understanding of ICC uniform rules and standard practices.
- Strong expertise in trade document checking and discrepancy identification.
- Able to work independently and be an effective team player.
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