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Open nowPosted 6 days ago

Trade Operations Manager

MyCareersFuture94,028 open roles

Pay
SGD 9,000 – SGD 15,000 a month
Where
Central, Singapore
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Your applicationOpen nowTrade Operations ManagerMyCareersFuture · Central, Singapore
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This job: posted 6 days ago

The posting

Job Purpose :

  • Overall handling and management of the entire trade operations for transactions being arranged from Singapore branch under compliance with MAS and RBI regulations and all other statutory requirements and smooth and error free functioning.
  • An experienced manager handling Overseas Branch Trade Operations, responsible for managing daily / day to day trade transactions and providing support to business team and customers.
  • Possess extensive knowledge on the Overseas Trade Products/operations and manage Trade operations of the branch and ensure transactions processed for Singapore branch are thoroughly reviewed from Sanctions & Compliance perspective and world Check review is being done.
  • Manage digitalization initiative of the Bank – Trade on Net.
  • Implementation of Operations process, policies and Audit guidelines as defined in the process notes.
  • Adhering to the defined Service Level Agreements with various business units.
  • Ensure compliance with all internal policies of the Bank.
  • Updation of recent circulars and guidelines to both business and customers.
  • Ensure that the transactions received are processed within defined TAT.
  • Removing bottlenecks in transaction related issues and provide resolution by liaison with all the stake holders.
  • Attending auditors from MAS / RBI and other external agencies.
  • Ensure that the reporting to MAS / RBI and other regulators is done as per prescribed timelines.
  • Introduce and implement adhoc controls to verify the quality of operations in the unit.

Key Responsibility Areas:

Key functional and relational responsibilities -

  • Ensure timely settlement of Trades/transactions across all verticals within the bank.
  • Ensure settlement of funds to clients/counterparty Banks is done before cutoff time
  • Ensure clean audit report of both internal and external auditors with respect to MAS Trade related transactions/processes.
  • Smooth coordination and cordial relationship maintained with all units such as Business, CAD, treasury, Credit, FBO, Singapore Branch.
  • Floor management and housekeeping. Ensure compliance with MAS / RBI regulations & all other statutory requirements.
  • Implementation of Operations process, policies and Audit guidelines as defined in the process notes.

Support function -

  • Providing support function / handling all issues / Queries related to
  • Singapore Trade operations.
  • Timely reply to queries / clarifications raised on Notes Mail / Escalation of issues.
  • Providing support to others functions of the bank - Business, CAD, treasury, Credit, FBO, Singapore Branch.
  • Acting as a one-point contact for customer related issues.
  • Co-Ordination with various Units and Departments like (FBO, swift team and CAD team, credit, CPUT, business, operations, Automation, BPRG,
  • Tech and Digital team) to ensure proper functioning of operations.
  • Ensure to have a robust dispatch process.Refer to various MIS, analyze and report the findings to seniors.
  • Must have an eagle eye and raise alert if any violation to Bank’s interest is observed.

Monitoring -

  • Proper Call Back, Second verification for each activity on desk.
  • Monitoring TAT for various activities on desk, linked to external as well as internal Cut Off.
  • Monitoring the operation activity and publishing MIS.
  • Conducting regular meetings with stakeholders and publishing minutes regularly.
  • Coordinating with internal compliance, Risk, Audit, legal team, Credit, FBO/CPUT, back office for closure of any open points.
  • Monitor compliance and audit issues to ensure deadlines are met and items are resolved completely and accurately.
  • Monitoring of deferrals, exceptions and any other requirement and ensure closure as per defined timelines

Controlling -

  • Ensuring Tighter controls being plugged by revisiting of the trade related processes to eradicate loopholes in the process & incorporate automation.
  • Overall monitoring of day-to-day activities on desk
  • Proper Record Maintenance / indexing of files/documents for easy retrieval and warehousing.
  • Timely and appropriate escalation of issues and suggest probable solution
  • No miss out of any transaction.
  • Meeting with Relationship managers, on a regular basis to understand and ensure that their requirements are met
  • Cost savings and Vendor Management thru adequate stationary indent- Constantly working on Cost reduction.
  • Ensure proper development of Back up on Desk.

Other support functions / Implementation -

  • Implementation of New client requirement, new processes.
  • Improvising on automation of the digital banking, trade on net, and lead other projects on hand, Liaisoning with concerned departments for development of applications of the above applications.
  • Effectiveness of controls and Timely MIS Reporting for the below:
  • 1.Dual used goods,
  • 2.Transaction Rejection report,
  • 3.Advance tracker reporting.
  • 4.Processed transactions reports.
  • Training to internal staffs and ensuring they are well motivated, staff welfare activity, avoid late sitting & plan their leave accordingly.
  • Effective Mentoring of all staff members.
  • Self-update with trends / development happening in market & products offered by competitor banks.
  • Error free Operations
  • Efficient backup creation and Cost Saving Initiatives

Key Skills:

  • Extensive Banking Product & Process Knowledge
  • Extensive knowledge of Trade Products. Knowledge of Competition & Current trends in financial Industry.
  • Prior experience Banking operations preferably in trade finance operations.
  • Possess in-depth knowledge to regulatory guidelines on products, processes, systems and basic due diligence.
  • Working knowledge of MAS / RBI regulatory guidelines,
  • Strong written and verbal communication skills.
  • Strong interpersonal and stakeholder management skills.
  • Strong Service and solution orientation.
  • Ability to work well in a team as well as contribute individually within stipulated timelines.
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