One of our banking clients is looking for a Bilingual Service Specialist - Standby Letters of Credit & Guarantees
Length: 12 months contract with possibility of extension or conversion to permanent
Location: Toronto/Montreal - Hybrid (80% remote 20% onsite if located in Toronto / If the location is Montreal, 100% remote)
Line of Business: Global Trade Operations
'The start date of this job is flexible and in order to find the best candidate the job may remain open much longer than the date mentioned on this posting... or you may be asked to start sooner than the expected start date if you are able to do so !'
Please read the job description below. If this interests you, please send a MS-Word version copy of your resume (ASAP) along with a telephone contact number: E-mail to hr@teamrecruiter.com
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The recruiter in charge of this role is Fathiya
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Requirements:
JOB PURPOSE:
Global Trade Operations is responsible for processing of domestic and international trade transactions related to goods and services for a North American and UK client base.
The main functions involve the handling of Standby Letters of Credit and Guarantees, Import and Export Letters of Credit, Clean and Documentary Collections.
Provide specialized trade finance support and service in a specific function/ technology where complexity is deemed to be medium to high and where errors may be costly. Analyze more complex, non-routine business issues, procedures, products, and processes, ensuring financial and regulatory controls, and provide guidance and resolution of issues.
ROLE MANDATE:
- Supports the execution of accurate and efficient reporting processes for regulatory and management information.
- Fulfill routine and frequently non-routine transactions, internal business partner and/or external customer inquiries/ requests, and/or audit/ reconciliation activities, and solve more complex issues efficiently and effectively in accordance with Bank and industry standards, focusing on up to a three-month time horizon.
ACCOUNTABILITIES:
A. Product and Process
- Process and/or fulfill trade finance transactions, perform audit/ reconciliation activities and/or other activities in accordance with established priorities and deadlines on a timely, accurate and efficient basis.
- Perform account reconciliation as per policy and procedure.
- Perform wire payments.
- Monitor and control Auto renewal reports and extensions of expiry dates related to Standby Letters of Credit and Guarantees.
- Monitor and update customer fees information.
- Resolve discrepancies/ exceptions that frequently deal with non-routine situations, requiring further analysis.
- Investigate and resolve or make recommendations to more senior team members on more complex, non-routine issues relating to internal business partner and/or external customer inquiries or requests, business process efficiency and quality control within existing procedures. Detailed oriented, Deadline-Oriented, Excellent Time Management
- Enable productive relationships within the line of business (LOB) and other functions through responsiveness and support. Proactively work with others (i.e., on own team, shared service centre, other operational areas, or with the internal business partner and/or external customer) to ensure delivery of timely, quality, and efficient fulfillment activities.
- Provide advice to internal business partners and peers to support the completion of a process or activity within established procedures.
- Provide input and analysis into the continuous improvement of business processes and procedures within the scope of the work team, and participate in the planning, testing and implementation of projects and new/ revised products/ services or processes.
- Provide on-the-job assistance and training to others, as requested.
B. Customer/Client
- Strengthen customer relationships
- Increase customer loyalty and grow our customer base.
- Committed to removing barriers and providing alternative ways for clients to access our products and services.
C. Financial
- Focus on drivers of financial performance
D. Risk & Control
- Escalate trade finance issues that require resolution by more senior team members, as per guidelines.
- Identify potential risk situations/ impacts and make recommendations or escalate to the manager.
- Review trade finance transactions and requests for compliance with regulatory and Bank requirements, as required.
- Monitor production logs and schedules to ensure key controls are followed and exceptions are actively pursued; escalate to the manager as appropriate.
- Provide information for regulatory reporting and audit queries.
- Ensure all appropriate authorizations/ approvals are obtained in accordance with policies and controls.
- Ensure adherence to all aspects of FirstPrinciples, Our Code of Business Conduct and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, policies and procedures (P&Ps) for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
- Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with Bank P&Ps.
- Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation.
E. Change
- Involve in continuous improvement and working together to find a better way to do things.
- Respond quickly to a changing environment
F. Business Performance Management
- Provide coaching and training to team members as required.
- Monitor service delivery performance, production processes and quality, providing reports to the manager for the purpose of optimizing operational effectiveness.
- Deliver exceptional customer service that builds trust through responsive, accurate, consistent, knowledgeable, and available services and support.
- Align individual performance goals to team and organizational goals.
- Demonstrate behaviors that are consistent with our values.
AUTHORITIES:
This role has the authority to:
Troubleshoot/ resolve most problems independently as per Letter of Authority/ authority levels following established guidelines and procedures. Maintain appropriate audit trails.
May problem-solve escalated issues from others, as appropriate.
Escalate all unresolved trade finance processing problems to the appropriate level, as per guidelines, including system, software, and hardware failures.
Prioritize work in accordance with policy and severity of service impact to minimize financial/ customer impacts.
Provide advice in the completion of processes within established guidelines and procedures.
Ensure receipt of appropriate approvals/ authorizations in accordance with P&Ps and controls.
CROSS-FUNCTIONAL RELATIONSHIPS
Internal:
Team members
Other PO business units re operational and customer service issues, projects, change implementation or system recoveries
May interact with internal support re projects, change implementation or system recoveries
May provide daily support and assistance to lines of business.
SCOPE AND IMPACT
This job has direct or indirect impact on the following:
Contributes to customer confidence and satisfaction by ensuring more complex transactions are processed and more complex non-routine business issues are resolved accurately and on a timely basis.
Contributes to customer retention by ensuring service quality in processing transactions and resolving escalated issues.
Contributes to Bank financial performance by responding on a timely basis to changing operating conditions to mitigate financial penalties and costs; also ensures an appropriate balance between customer service and costs to minimize loss of revenue or customer dissatisfaction.
Contributes to the mitigation of reputational risk and financial loss against such things as fraud, defalcation and/or financial penalties by ensuring compliance with Bank P&Ps and regulatory requirements.
Contributes to the mitigation of costs/ impacts associated with human errors by supporting the proper coaching and training of others.
High volume and/or high-risk environment with strict timeframes that are time sensitive and subject to large penalties if timelines are missed.
Qualifications:
KNOWLEDGE AND SKILLS
a) Knowledge:
University degree/college diploma
Certification in Documentary Credits (CDCS)
Proficient in Excel, Word, Macros, and other standard desktop applications used by the business unit.
In-depth Knowledge of International Chamber of Commerce Rules - Uniform Rules for Demand Guarantees (URDG 758), Uniform Customs and Practice for Documentary Credits (UCP 600), International Standby Practices (ISP98).
5 to 10 years of trade finance operational experience
Strong knowledge and understanding of the business unit's key products and services, processes and controls
Strong understanding of the business unit's risk and regulatory requirements
Good knowledge of departmental systems and jTPS application
b) Skills:
Strong analytical and critical thinking skills
Strong investigation skills
Strong prioritization skills
Strong organizational skills
Strong customer service and relationship management skills
Good change leadership skills
Good coaching and training skills
Strong written and oral communication skills
Ability to multi-task in a challenging environment
WORKING CONDITIONS
This job operates within normal office conditions with minimal exposure to health and safety risks. There may be a requirement to periodically work extra hours as dictated by the business.
May be required to work on statutory holidays and within differing time zones as dictated by the business.
Please note that this is the most up to date version of job description available at this time - During Client Interview you will receive additional information - variance may apply!
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