Trade and Payment Specialist at Rand Merchant Bank

Purpose:

• Service a portfolio of clients through the processing of various Traditional Trade and Cross Border payment products including the resolution of queries and requests originating from both internal and external clients. Provide sales support to the RMBN coverage and Global Markets sales teams.

Responsibilities:

The successful candidate will be responsible for:

• End-to-end processing of all domestic and relevant cross-border and local payments, and all transactions on Letters of Credit, Foreign Documentary Bills for Collection, Local and Foreign Guarantees
• Compliance with all applicable procedures, rules, laws and regulations
• Ensuring that functions are administered as per laid down Audit requirements.
• Communicating and explaining transactions clearly and coherently to both internal and external clients
• Providing process assistance and resolution of queries to internal and external clients
• Meeting specific performance and team targets
• Daily filing and diarizing
• Interpreting, understanding, and acting in terms of the customers’/banks’ instructions.
• Identifying potential risk areas for both the customer and the bank and to recommend alternatives.
• Identifying cross-selling opportunities
• Formulation of innovative solutions
• Outstanding level of service provided to customers/branches and other business units.
• Ensuring that transactions are transacted in accordance with regulatory guidelines.
• Ongoing evaluation and improvement of turnaround times and ensuring process efficiency levels.
• Taking personal responsibility for personal up-skilling and further development
• Supporting the Markets and Coverage sales teams with on-client-site product sales
• Providing support to the COO and undertaking any additional duties as may be required.

Education and Qualification:

• The successful candidate should have at the minimum, a bachelor’s degree in Banking, Finance, Accounting, Computer Science, Engineering, or a related discipline.
• A master’s degree would be an added advantage.

Experience:

• Minimum of 5 years’ experience and proven track record in Traditional Trade, domestic, and cross-border payments environment.
• Detailed understanding of the Nigerian Banking Industry

Professional Qualification:

• CDCS Certification.
• CIBN certification would also be an advantage

Technical Skills and Competencies:

• Thorough understanding of the application of different trade financing options and settlement available
• Knowledge and understanding of foreign exchange, exchange control, credit aspects (liabilities exposure), mandates, SWIFT formats, Nostro accounts, Swift RMA
• Knowledge and understanding of the local settlement environment
• Knowledge of:
• Foreign exchange
• Nigerian exchange controls i.e. Import and export forms, duty and vat payments, etc
• Credit aspects including liabilities and exposure
• Mandate management
• SWIFT and the associated formats, inclusive of the 100, 200, 400, 700, 900 and n series
• SWIFT RMA
• A thorough understanding of Nostro accounts must be displayed. In addition, thereto, sound reconciliation
• principles are to be adhered to in the clearing of outstanding Nostro items. This includes the query process
• in house, to clients and to Nostro correspondent and RMA customers
• Understanding and application of the principles of the various ICC publications, UCP 600, URC 522, ISBP
• 2007, URDG 758, URR 725 and Incoterms 2010
• Thorough working knowledge of the rules and international laws governing trade and the legal
• implication thereof on the business
• Comprehensive computer skills and working knowledge of MS Office
• Thorough understanding of country and bank risk

Competencies:

• Excellent written and oral communication
• Interpersonal skills and ability to network within an organization
• Ability to engage customers in selling trade propositions
• Multi-tasking skills
• Analytical and problem-solving skills
• Information analysis and management
• Ability to work under pressure
• Effective time management skills
• Customer focus (internal and external customers)

Attributes:

• Expertise: The ability to apply, maintain, and develop professional and technical knowledge to develop higher quality solutions and add increasing value to the business, as well as sharing knowledge and experience with others.
• Customer service orientation (internal and external): Seeks to exceed customer expectations and makes efforts to add value by identifying and addressing underlying needs. Takes personal responsibility for delivering customer solutions, and makes self fully available, especially in difficult periods.
• Achievement Driven: Sets and works to meet challenging goals, where there is a definite stretch, but the goal is not unrealistic. Targets are specific and measurable.
• Analytical thinking: The ability to speedily absorb and analyze information and data, and identify problems, patterns, trends, causes, and corrections.
• Teamwork: Acts to build team spirit and morale, improves team effectiveness by encouraging the team to work toward a common goal, resolves conflict in the team, and promotes the team to other areas of the business.
• Initiative: The desire to take initiative, do more than is expected or required in the job, and endeavoring to improve or enhance job results, avoid problems, and find or create new opportunities
• Self-confidence: The confidence to weigh up a situation and make a quick, clear decision or judgment against a background of uncertainty or lack of information. Belief in one’s own capability to take on challenging tasks and assignments.