Specialist, Trade Finance Operations

Job Purpose:

FAB Centralized Operation is a part of the Business Support Group that provides transaction processing and other operational services to First Abu Dhabi Bank, its subsidiaries and affiliates across various lines of Business. The highest standards of control and risk oversight is maintained to ensure that the large amounts of financial transactions that take place every day do not entail any unanticipated risk to the Bank or its customers.

Trade Finance department services the Trade transactions originated primarily by WBG (CIB, CB, FI, IB and Islamic Banking) and also by Consumer Banking.

Key Accountabilities:

• Policies, Systems, Processes & Procedures

• Provide inputs and implement policies, systems and procedure for the assigned team so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.

• Continuous Improvement

• Participate in the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.

• Reporting

• Prepare sectional statements and reports timely and accurately to meet FAB and department requirements, policies and quality standards.

• Other

• Maintain zero operational loss

• Adherence to SLA and Customer TAT

• Adhere to Training Man-Days for self and team.

• Execute departmental initiatives as advised

• Liaise with customers and resolve queries/problems

• Ensuring timely updation of transactions in the relevant systems.

• Ensuring timely review/revision of SOP

• Conduct investigation to rectify errors

• Ensuring attending all incoming messages within SLA, system upgradation and Technical assistance to team members.

• Prepare statistical data for internal and external relationship

• Deal with customer/counterpart in other banks to respond to queries and problems

• Correspondence of routine nature with customers and other external/internal contacts.

• To identify risk in day-to-day operations and bring to the attention of management

• To provide technical guidance to customers when needed

• To suggest ideas and strive for continuous process improvement

• To escalate transactions of unusual nature

• To hold records in custody as per designation memo

• To ensure safe custody of records.

• Any other duty/task as entrusted by the Dept Manager/Head

• Responsible for effectively processing/checking, verifying and authorizing transactions as per approval matrix, ensuring processing of transactions is carried out in a controlled manner.

• Effectively monitoring compliance to regulatory guidelines and local/international sanctions in Trade Finance processes and improving the controls to identify/mitigate risk.
• Ensuring self and staff adhere to Standard Operating Procedures of FAB at all times and recommend/implement changes in policies, procedures, processes and systems in line with development in the industry.
• Developing and introducing robust tools/processes to identify/mitigate operational risks attached to the department.
• Support the line manager in sustaining higher / acceptable rate of Employee Satisfaction in line with Bank Policy.
• Ensure Anti money laundering, Central Bank guidelines and other internal policies / procedures are strictly followed and any unusual transactions are reported to levels prescribed.
• Keeping self-apprised of developments taking place in the industry and disseminate them to staff under direct and indirect reporting where applicable.
• Proactively highlight situations of extraordinary non-operational risks e.g., market and legal risks, which may arise due to transactions that are entered into.
• To participate and implement projects, system development and other initiatives applicable to the department.
• Support Line Manager in developing, coaching, monitoring staff performance and arranging remedial training where necessary.
• Support multi desk and multi functions within the department

• Target Zero complaints, minimum 95 percent adherence to TAT standards as agreed with business. Achieve more than 90% satisfaction score in the internal customer survey.

• NIL unauthorized breaches in Policy/regulatory requirement ad SOP’s. Satisfactory rating in all audits-INA/RMU/OCS/Self- Assessment.

• NIL breaches in housekeeping (reconciliations, Tracers, DCFCL etc)

• NIL critical findings in regulatory/external/internal audits

• No. of PI (Process improvements) proposals found fruitful by management. No. of successful PI’s implemented

Minimum Qualification

• Graduate (Preferably in Commerce / Financial Services/Banking & Finance etc.) and CDCS/CSDG/CITF preferred.

• Thorough understanding of ICC Rules, Local laws and legal risks, trade documentations and Shipping terms.

Minimum Experience

• Minimum 5-8 years of experience in Trade finance with hands on experience in all trade finance products

• Hands on experience on Core Banking Solutions
• Specialization in own area of work and working knowledge of all Trade products
• Conversant with MS Office and other Analytical tools.
• Working knowledge of associated activities like the ones related to IMB, Insurance Business, SWIFT etc.,
• Extensive knowledge of UCP600,URC522,ISBP, URDG758,URR725, Incoterms 2020, ICC banking commission opinions etc.