Transaction Banking department is responsible for the product ownership of Corporate and Financial institution client's Trade Finance, Commodity Finance, Cash Management, E-banking product as well as Corporate client's Account, Payment, Deposit, overdraft services. The Transaction Management Unit (TMU) provides pre-screening and approval of all trade finance transactions primarily those for the Bank's commodity clients, plus collateral management, commodity client portfolio management and reporting. As an Assistant Vice President - Commodity Trade Finance & Collateral Management within TMU, you will be responsible for ensuring that delivery of the Bank's products and services for its commodity trade finance business across the metals, energy and agriculture sectors are effectively and efficiently handled. You will be providing post-sanction conformance on all Trade Finance facilities as well as ongoing transactional and collateral management. This is a full time permanent position.
Key responsibilities
- Prepare, manage and review process and procedures to ensure an efficient running of the Transaction Management Unit; this includes the operational activities that require delivery against the recommendations set out by the Bank and Regulators
- Assist and respond to customers' daily transaction enquiries
- Provide turnaround for all client requests and ensure they are prepared and processed in accordance with the relevant risk approval and passed over to the processing areas with Operation Services department in a timely manner
- Contribute to the strategic development of the Bank's commodity trade finance portfolio
- Prepare and update Product Information Document (PID's) for new products and procedures as and when required
- Work closely with the relationship managers and Risk Management department to ensure all necessary business and risk evaluations are undertaken appropriately
- Represent the Bank professionally at any events or conferences attended
- Ensure compliance with the Bank's Compliance and Sanction policies and procedures as well as all external regulatory and sanctions regulations
- Deliver accurate MI and detailed reports describing client's exposure to product and commodity
- Provide advice and mentoring to other staff as and when required
- Provide cover for TMU staff members when required
Requirements
- Degree educated in Business, Finance, Accounting or other relevant subjects
- Demonstrated Trade Finance experience within the Financial Services industry, in metals, energy and/or agriculture sectors
- Knowledge of Anti-Money Laundering (AML) and Customer Due Diligence (CDD) requirements
- Knowledge of current International Chamber of Commerce (ICC) rules for collections, documentary credits, guarantees and standby letters of credit
- Good understanding of the physical commodity markets and hedging
- Excellent communication and interpersonal skills
- Planning and organisation skills
- Drafting policies and procedures is a plus
- Proficient in MS Office particularly in the use of MS Excel
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Assistant Vice President - Commodity Trade Finance & Collateral Management in London employer: Bank of China
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