Empowering Africa’s tomorrow, together…one story at a time.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.: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools and support to unlock your potential. You are Absa. You are possibility.Job Summary Responsible for the verification, monitoring and control of trade finance transactions accurately & timeously in an efficient and professional mannerJob DescriptionTrade ProcessingTo effect the following on all incoming trade instructions: Register transaction in the Trade portal, effect good for processing checks, ensure transaction is within trade limit before same is sent to Back Office for processing (MO)To engage and assist customers with their trade transactions (MO)To support customers on their onboarding and transactions on TMO (MO)Assist, brief and guide customers/relationship managers on technical matters pertaining to trade finance transactions. (MO)Check and authorise all Trade Finance transactions that are processed by subordinates in order to ensure accuracy of dataMonitor all outstanding Trade finance Transactions and correspondences initiated on the banks system while ensuring proper notes and memos dates are input accurately on file.Monitor closely the day-to-day activity of subordinate staff in respect of routine trade finance transactions such as but not limited to close expired trade transactions, initiate correspondence, charged commission ensuring there are not nacked messages etcEnsure that all transactions are fit for processing before processingReview and authorise transactions input by trade maker and same have been duly authorised with all approval in place.Check and ensure accuracy and completeness of data input in respect to sanction screening and AML activities.Ensure any issues reported are rectified and responded in a timely manner.Reply to customers, bank and other stakeholders’ queries in a timely mannerComply with SLA in place for the processing of transactionsEnsure that transactions are monitored and processed accurately, timeously and ensuring no duplication.Maintain the highest standard of internal control & operating procedures in line with Absa group policyPlan and organise own workflow of tasks to ensure efficiency and minimise costsFollow up complaints and ensure rapid resolutionKeep abreast of Local and International market developments which could have a direct bearing or change to procedures or reporting requirements and ensure that these requirements are incorporated in a timely and effective mannerEnsure that customers are properly advised about the fate of their transactions at any steps.Ensure correct booking of currencies and position sheet sent to TreasuryEnsure outstanding payments are advised to Treasury OperationsEnsure settlement of trade loan effected on due dateEndorse & authorise delivery of documents to customersMonitoring of memos and takes appriopriate actions.Ensure proper queue management for all systems to ensure all transactions are attended.Be the custodian of original trade documents & other valuablesEnsure that processing are done according to established process flowFollow up of Queries with customers and other stakeholdersEnsure reports are prepared accurately and reported in a timeously mannerParticipate in all testing exercises as and when requiredReview & action outstanding nostro reportAny other matters related to trade finance as may be assigned by the Trade Finance managerStaff ManagementResponsible for managing subordinate staff activity on a day-to-day basis and resourcing work flow requirementsIdentify appropriate training requirements for self and team, managing personnel development, recommending attachments and monitoring staff development and progressSupervise and motivate staff to create team spirit and ensure quality support and service to clientsTo undertake reviews of staff performance on a quarterly basisTo assist in putting in place a robust succession planTo ensure job rotation to provide job satisfaction and reduce risks of fraudTo coach/train staff on Trade Finance products to enhance efficiencyTo provide feedback to Team LeaderMonitor subordinates to ensure seamless workflow of transactions through the dayRisk ManagementKeep abreast of all operating instructions, standards and proceduresInitiate remedial actions where loopholes in operations are identifiedMaintain the highest standard of internal controls and operating procedures in line with Group policyMonitoring and ensure all incoming transactions are process with no duplicationEnsure compliance with operations standards and Assurance requirementsAssist to maintain integrity of the database at all times by authorising genuinely authorized transactionParticipate in review program such as CPA and Snap check and the like as initiated by the Bank.Ensure risks are kept to acceptable levels and audit are satisfied with the standardsEnsure all IT systems are maintained properly according to standards especially securityProactively refine procedures and improve the process environmentMandatory Risk and Control Objective:
Ensure all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and Internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.
ReportingResponsible for accurate and timely Reporting to:FinanceARO Centre& other business stakeholdersTrade KRI’sEnd of Month reportingImport Loan reconciliationTrade receivableNostro reconciliationsTrade PositionsRegulatory reporting:Balance of PaymentAML/CFT returnKnowledge, Expertise and ExperiencePreferredDegree with minimum 2 years relevant experience or equivalent of 5 years bank related experience.EssentialTrade product Knowledge, such as letters of credits, Bills for collections, guarantees and short-term financing of trade.A detailed knowledge of Absa policies and procedures related to AML and sanctionsA sound knowledge of risk relating to trade productsUnderstanding the components of operational risks in the trade finance environmentKnowledge of International & correspondent BankingPractical experience of current systems and their impact on operations and operational working practicesGood understanding of the bank’s products and servicesTechnical skills / CompetenciesComputer Skills ( Word, Excel, Powerpoint, TMO/TMW, IMEX, GEMS, TPS & Morongwa)A good knowledge of all trade related products and the processing thereof i.e multiskilledGood interpersonal skillsTeam workingProven Planning & Organisational skillsProblem solving and investigationDecision makingGood analytical skillsHighly developed coaching skillsA sound technical appreciation of end-to-end processAbility to challenge at all levels and not to be easily influencedAn in-depth knowledge of the Uniform Customs and Practices which govern Letters of credit /Collections/Guarantees (UCP/URR/URC/URDG).EducationFurther Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)
