Trade Operation Analyst at Standard Chartered Bank

Ref No: 2200023087
Job: Operations
Employee Status: Permanent

Job Purpose

• Ensure that trade related products/applications/documents are processed against laid down procedures, policies and service standard and key control standards e.g CDOI’s & Trade circulars
• Ensure compliance of all internal procedures and operational controls.
• Ensure operation safety for all products under my supervision.
• Ensure products are processed in line with local regulatory requirements e.g CBN manual & circular and applicable international practices e.g ICC rules
• Handling of import bills for collection  documents.
• Performs technical and physical validation of all bills shipping document received.
• Register all bills shipping document received on daily basis on TD.
• Scanning of registered documents to GBS through nCAP
• Submission/uploads of each document through EOPS workflow for further processing.
• Completion of all push backs on trade transaction dashboard and follow up with GBS for completion and release of issuance.
• Ensure Bill of Exchange are sent to individual clients without delay.
• Receipt of Acceptance of Bill of Exchange, processing, follow up for release of acceptance on IMEX after which Endorsement of the Shipping documents to clients where ACP step is completed.
• Reconciliation of received documents with sent out documents before filing in a safety cabinet.
• Payments of Import Bills for collection
• Verification of Signatures and Authentication of Clients’ instruction as it relates to Local Exchange Controls.

Key Responsibilities

• Ensure that applications received are processing within the agreed SLA
• Advice inability to process immediately to stakeholders
• Ensure that Documents received are treated on the same day and at most, before end of SLA.

Reports:

• Review and monitor IMEX report for control and completion
• Review and monitor OTP report for control and completion
• Completion of daily COPMAN checks
• Render daily pending report on pending BILLS AND Guarantees.

Responsibilities

• Responsible for ensuring that trade related products / applications / documents are processed against laid down procedures, polices and service standard and key control standards (DOIs and Trade Circulars) as well as local regulatory requirement e.g. CBN Manuals and Circulars and applicable international practices e.g. ICC Rules

Strategy:

• Maintain standard service level across in line with expectations from various stakeholders across client segments
• Support ‘efficiency and effectiveness’ strategy in offshoring, reduction of manual work to improve service delivery capability in the respective clusters
• Support strategy to streamline processes, simplify, enhance productivity, reduce risk, improve controls by leveraging technologies.

Processes:

• Support the process of transforming operations with best in class turn-around times, controls and standards as to provide market best client service and in a manner that the risks, if any, are clearly understood and managed
• Ensuring process related documentation in terms of issuing Global Department Operating Instructions (GDOIs) considering various policies of the bank and market practices
• Ensure Anti Money Laundering (AML) and sanctions activities are carried out as detailed in group guidelines
• Support the rolling out of processes for new products/sub-products.
• Support country trade operations and hubs on Strategy, Operating Model, Standards and Risk Controls and compliance with regulations.

Risk Management:

• Assist OTI in the creation and sustenance of a strong operational risk control environment by undertaking periodic self-assessment of key controls to assess the proper functioning and adequacy of existing controls and assist in coordinating, facilitating, and promoting the understanding of operational risk and implementation and management of OR within the unit.

Regulatory & Business Conduct:

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead to achieve the outcomes set out in the Bank’s Conduct Principles
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association.

Key Stakeholders:

• Head Trade Operations
• COO, Nigeria
• Head, Transaction Banking and Sales Mangers
• Local Product Manager Nigeria
• Subordinates in Trade Services
• GBS Management and Hub Trade Head
• GBS Trade staff handling Nigerian Transactions
• Relationship Managers
• Head Credit Operations
• Global Market team responsible for FX
• Internal Legal counsel
• Compliance teams
• FCC
• ITO Forum.

External:

• Trade & Exchange Dept – Central Bank of Nigeria
• Nigeria Custom Service
• National Drug Law Enforcement Agents
• Economic and Financial Crime Commission.