Trade Operations Associate

• To ensure that the vetting of the Bank Guarantee format is taken as per the Bank Guidelines taking into consideration that the Bank’s interest is safeguarded and also ensure compliance with the Legal/Regulatory Requirement
• To ensure that the guarantee texts are vetted for all Local, Counter Guaranteed Guarantee and Overseas Guarantees with the agreed SLAs
• Furthermore, customer’s queries on the vetted format to be responded within TAT and obtain clarification from higher authorities, Legal, Risk or Business as maybe applicable to meet customer expectation
• To be one point of contact for the customer and RM (Operations Service Manager) for any issues/delay/complaints regarding the issuance/extension/amendment/cancellation/claims/queries for guarantees transactions
• Undertaking issuance/extension/amendment of guarantees as per the customer’s request on a timely basis, which includes scrutinizing the factual details from HUB system, the request letter and any approvals received from the Business/Legal/Compliance/Risk
• Follow-up and timely action for commissions receivables/payables (both local and overseas) is undertaken rigorously
• Claims when received are actioned immediately by either informing the RM or the customer based on the type of claims are received
• Responsibility of paying the claimed amount to the beneficiary on time is also undertaken
• Scrutinize the nostro accounts on a daily basis on receiving inputs from FCD to check thoroughly all the entries originated for guarantees transactions and resolve the differences on a timely basis by liaising with appropriate parties viz., RMs, clients, etc.
• Balance all related suspense accounts and ensure that proper actions are undertaken to recover commission for items >90 days
• Review the local/global regulatory reports and other HIE generated reports on a daily basis to ensure that no balance sheet differences have occurred on account of the guarantees transacted on the previous day
• Managing the trade relationships of select clients and generating revenues in line with targets
• Scrutinizing all the GTE documents submitted for processing which include fresh issuance, extension, extend or pay, commission recovery and cancellation
• Liaising with clients for any clarifications on documentation
• Ensure all MIS/Reporting for Internal/External teams is done within deadlines
• Interface with clerical staff in terms of getting transactions captured on the system
• Observance of AML and sanctions related guidelines, besides being familiar with the Indian Regulatory framework given that Guarantees are being issued to beneficiaries outside India
• Liaising with Concurrent Auditors, providing them with all relevant information and resolving their queries
• Balance all related suspense accounts
• Respond to client queries promptly and ensure agreed TATs are met

Bachelor of Commerce with 1-2 years of experience in Credit Administration, Banking Operations preferably in Guarantee/Trade Operations

• Continuous professional development
• Flexible working
• Opportunities to grow within an inclusive and diverse environment