Job Description
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
