New Job Vacancy at ABSA Bank Limited Tanzania, Middle Office – Trade Operations Officer
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| ABSA Group Limited |
Jobs in Tanzania 2020: New Jobs Vacancies at ABSA Group Limited 2020
About Us
Truly African
We are a diversified standalone
African financial services group, delivering an integrated set of
products and services across personal and business banking, corporate
and investment banking, wealth, investment management and insurance.
Truly African
We are a diversified standalone
African financial services group, delivering an integrated set of
products and services across personal and business banking, corporate
and investment banking, wealth, investment management and insurance.
Absa
Group Limited is listed on the JSE and is one of Africa’s largest
diversified financial services groups with a presence in 12 countries
across the continent and around 41 000 employees.
Group Limited is listed on the JSE and is one of Africa’s largest
diversified financial services groups with a presence in 12 countries
across the continent and around 41 000 employees.
Absa Group Limited
is listed on the JSE and is one of Africa’s largest diversified
financial services groups with a presence in 12 countries across the
continent and around 41 000 employees.
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We
own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius,
Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in
Tanzania and National Bank of Commerce), Uganda and Zambia. We also have
representative offices in Namibia and Nigeria, as well as insurance
operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and
Zambia.
Position: Middle office – Trade Operations Officer
Location: Absa House – ABT
Bring your possibility to life! Define your career with us
With
over 100 years of rich history and strongly positioned as a local bank
with regional and international expertise, a career with our family
offers the opportunity to be part of this exciting growth journey, to
reset our future and shape our destiny as a proudly African group.
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Job Summary
To deliver a
highly efficient Client service and support function by being the
primary point of contact between Front Office and Back Office, ensuring a
smooth client experience during the lifecycle of each deal
- To perform fit for processing checks within the agreed Service Level Agreement (SLA)
- To perform Transaction monitoring in accordance with Trade based mon
- To perform the deal management function for debt, Structured Finance, Commodity finance & Open Accounts
- To manage risks, track transactions and ensure a high service delivery to all clients
All
products are defined as Letters of Credit (LC), Documentary
Collections, BGIs (Bonds, Guarantees and Indemnities), Open Accounts
products i.e. Receivables Finance (RF), Selective Receivables Finance
(SRF), Supplier Finance (SF). Financial Institutions (FI) Trade and
Trade Loans, Irrevocable ey laundering and Trade Finance Standard policy.
Reimbursement Undertakings (IRUs), Global Trade Asset Distribution (GTAD)
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Job Description
Client service and support (20%)
For All Products
- Front office support – participate in implementation and provide support to the Front Office.
- Client Focus – where required liaise with clients to resolve queries working jointly with various stakeholders.
- Innovation
– continuously investigate new and better ways to enhance the operating
environment by measuring the effectiveness of all procedures. - Fit
for Processing (FFP) – establish and solution root cause FFP failures
to ensure streamlined transact - Adhoc requests – e.g.
Certificate of balance, audit certificates, client queries, book
reports, provide an account on boarding service to new clients and train
clients around the operation of their relevant facilities - Client requests – Billing, manage escalations, complaints, queries and recoveries not limited to.
- Interaction
with Key Stakeholders / Relationship Management – partner with various
areas across the Absa Group in order to manage client requirements and
enable Fit for Processing including Absa Finance, Treasury, Corporate
Front Office, Product, Credit, Documentation Management – TA and
Transactional Management Group (TMG), Relationship Executives (RE),
Legal, Risk, Product Control Group, TAG, Excon and Regulatory. - Transaction management – proactively manage milestones and ensure applicable trackers/ check lists are adhered to.
Control & Execution: Fit for Processing (50%)
For All Products
- Transaction monitoring – proactively manage milestones and ensure applicable trackers/ check lists are adhered to.
- Perform
fit for processing checks – ensuring all information is accurate and
meets the required standards for all respective trade transactions, this
includes the following checks:- Credit limits and referrals
- Know Your Customer (KYC) Checks
- Anti-Money
Laundering (AML) Red Flags in accordance with the Trade Based Money
Laundering (TBML) & Trade Finance (TF) Standard policy
- Standard / Non Standard Legal wording
- Excon check and referral to Excon Specialists where Exchange Control Application (ECA) is required.
For All Products except Receivable’s Finance
- Loan Booking – Ensure technical correctness of each instruction/application for funding and that the necessary approvals to undertake the transaction are obtained prior to booking deals with Treasury
- Ensure the booking system parameters (Limits, SSIs and client profiles) are in order prior to loan requests being honoured
For FI and Documentary Trade Specific Products
- Document
checking and Negotiation- Review trade documentation required in terms
of the various products and analyse and interpret content through
effective application of International Chamber of Commerce Guidelines,
International Standard Banking Practice and other applicable ICC
publications (UCP 600, ISBP, RR725, URDG 758) - Ensure that all
information transcribed from an incoming Letter of Credit to an outgoing
message (MT710) is accurate, complete and relevant to the transaction
at hand. The transaction needs to be fully understood and all potential
risks eliminated prior to the sending of the MT710 - Financial modelling – Ensure that all exposures are accurately recorded on the bank systems (Midas, IMEX and GEMs).
- Bank
Limits – Maintain bank limits and exposures on the GEMs system ensuring
that information is correct for all FI transactions (oversight of
daily excess reporting, bank limit reservations, monthly reporting and
limit reviews) for Absa.
For Open Accounts Products
- Provide Front office support – participate in implementation as support to the Front Office.
- System
Administration – Ensure Open Account deals are correctly set up and
updated on the relevant bank systems (limits, pricing, supplier and
client on boarding, documentation)
Structured Trade and Commodity Finance Products
- Work with and give input to Front Office on deal structure requirements to ensure new deals are operationally possible.
- Manage
and monitor all third party service providers including but not limited
to (Collateral Managers, Insurance, Freight Forwarders, Inspection
companies, storers and Traders/Agents) with each drawdown and due dates. - Stock,
futures/forward position need to be well management and monitored to
meet the deal requirements with each drawdown and on required due dates. - Have
a good understanding of the underlying commodity and country (market)
that is being dealt with on each transaction before transaction is
implemented and interlocking with the correct stakeholders to close any
gaps on this understanding before deal is implemented.
Governance, Risk and Compliance (20%)
- Control
Environment – ensure all deals comply with regulatory and legal
requirements. Take responsibility for deal to ensure current controls
and procedures are observed. Continuously consider risk mitigation and
operational effectiveness, with monthly KRI’s reporting and providing
feedback where applicable. Log all risk and loss events as they occur as
a result of fraud or error highlighted in the department. First,
escalate to line manager and then contact Operational Risk Management
(ORM). - Accounting – review of reconciliations, month end
procedures, consolidation, preparation of information and review deal
accuracy. Ensure that all exposures are accurately recorded on the banks
systems (Midas, Front Arena, IMX, IMEX and GEMS) Reconciliation of all
payments over Nostro accounts associated with the applicable product - Adhoc reporting – prepare reports and provide relevant information as and when requested by stakeholders.
- Business
Continuity Management (BCM) – provide regular (as requested) inputs and
actively participate in the review of the BCM plans by attending all
meetings when requested and updating relevant documents. - Record
Management – provide regular (as requested) inputs and actively
participate in the review of the Record Management procedures by
attending meetings when requested and updating relevant documents. - Complete all relevant compliance training and be conversant with the relevant regulations that impact on day to day functions
- Complete all Month End Reconciliation processes and procedures, ensuring close attention paid to risk mitigating activities
- Escalate all potential risk events immediately
- Provide all requested Management Information (MI) as required
- Comply with prescribed policies, processes and procedures to prevent any financial loss
Innovation and Change (5%)
- Able to implement/monitor change/projects
- Set own personal development goal objectives and completed all required actions in order to achieve
- Continuously look for opportunities to further develop own skills and expand knowledge base
Stakeholder management (5%)
- Build
and manage relationships with various levels of stakeholders across a
diverse population, across multiple countries and regions.
- Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
Deadline: 2020-10-09.
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