Floating Trade Manager , Director

  • Negotiable
  • Newark, NJ, États-Unis Newark NJ US
  • CDI, Plein-temps
  • Standard Chartered Bank
  • 20 juil. 18 2018-07-20

Drive US Trade Service Delivery strategic priorities by applying extensive Trade Operations and Regulatory technical knowledge to resolve complex interactions while putting the client at the center of all decisions.

Floating Trade Manager , Director

Business
US Trade Service Delivery processes more than 25,000 commercial and standby letters of credit
and documentary collection transactions each year. Bank-to-Bank Reimbursements and Receivable Services contribute another 200,000 transactions to the yearly transactions volumes office. Although many transactions are outsourced to GBS in India and KL, US Trade Service Americas retains significant transaction production and operational responsibilities for certain market segments and product types due to the complexity of the transactions and the sophistication of the clients. Additionally, all client interaction and oversight of service duties for GBS is managed through US Trade Service. Trade Operations contribute about $45 million dollars annually to the Bank's U.S. financial results.

Responsibilities

* Point of escalation for complex interactions using deep understanding of Banking, Trade Operations as well as the Credit approval and allocation process
* Approve and release transactions valuing up to USD 150M
* Directly handle SBLC/Import LC issuance and structuring, SBLC Billing, Participations (In and Out), Export LC Advising/Confirmation, Document checking, Payments/Negotiations, Reimbursements, Reimbursement Refinancing, Documentary Collections, Receivable Services, Trade Receivables and Vendor Pre-pay.
* Stand in for US Trade Service Managers and oversee work flows and BAU as needed
* Problem-solve and provide thoughtful, comprehensive solutions (answers?) to complex interactions by understanding the intricacies and links between the various trade lines of business
* Apply comprehensive understanding of Global Trade Service Delivery policy for practical application in the US market
* Manage delivery of ad hoc projects as needed
* Actively participate in the development and implementation of recommendations or solutions when production or service related problem are identified
* Collaborate with people managers within the team to drive consistently high levels of integrity and best in class practices
* Apprise Head, US Trade Service Delivery on the performance of local and GBS team members
* Partner with people managers to ensure all team members remain current with changes to Bank's DOIs and policy positions, various ICC publications, the Commerce and Treasury Department's regulations pertaining to the trade business, Customer Due Diligence, Money Laundering Prevention, Sanctions, AML and Anti-Boycott

People and Talent

* Coach, develop, and motivate members of the US Trade Service Delivery team
* Provide recognition, constructive feedback and have difficult conversations with team members to support growth and development
* Understand and stay current with the Banks People Manager responsibilities
* Contribute to the development of best in class team with excellent critical thinking and problem-solving capabilities as well as end to end understanding of how their role sits within the Bank.
* Ensure effective succession planning for key positions
* Use influence to create engagement within teams to ensure high performers are retained
* Partner with US Trade people managers to ensure team members are complete mandatory e-learnings in a timely manner
* Inculcate the Here for good culture across the team

Governance

Trade and Credit Operations - AML and Sanctions Responsibilities

All managers and staff of Standard Chartered Bank, New York must remain fully compliant with requirements of the Bank's Group Anti-Money Laundering ("AML") and Counter Terrorist Financing ("CTF") Policy and Procedure, Group Sanctions Policy and Procedures, the Trade Operations AML and Sanctions Procedures, and the related Trade Operations DOIs.

Managers must ensure that they and all their direct reports attend Bank prescribed AML and Sanctions training at least annually.

Ensure that all trade transaction instructions for clients as well as non-account holders, whether trade or credit operations related have been properly reviewed and sanctions screened via MTS Stop filtering.

Check all the transactions for anti-boycott compliance.

Ensure that all OFAC and HMT, AML and Anti-Boycott screening activities are documented and included as part of the trade transaction file.

Make sure that all the OFAC and HMT, AML or Anti-Boycott violations are processed and escalated in accordance with current DOIs and Target Operating Models (TOM).

Assist as directed in preparing documentation for reporting of OFAC hits to the U.S. Department of Treasury by FCCA Sanctions and Boycott violations to the U.S. Department of Commerce by the designated Trade staff.

Be aware of all the "AML Red Flags" in trade transactions, which may be updated from time to time, and apply them as a tool in identifying potential fraud and/or money laundering transaction.

Identify and escalate to FCCA Trade directly or via AML Advisor any trade transaction/even suspicious in nature for their further consideration of filing a SAR.

Ensure that EDD (Enhanced Due Diligence) is applied in processing trade transactions from the banks operating;(1) under offshore licenses, (2) in a jurisdiction found to be non-cooperative with international anti-money laundering principles; (3) in a jurisdiction found to be a primary money laundering concern, as per FinCEN guidelines in accordance with Sections 312 and 311 of the USA PATRIOT Act.

Make sure trade transactions from/to NCCT (Non-Compliant Country/ies Territory/ies) are to be immediately escalated to the management team and that they are subjected to EDD (Enhanced Due Diligence) before any action is taken.

Make certain that all trade transaction files are up-to-date and properly secured and for all the warehoused files, records are properly prepared and accurately maintained.

Escalate - without fear of penalty - any trade transaction or occurrence that you believe to be unusual but that you believe is not being treated
with an appropriate level of seriousness by any Manager or Officer of the Bank.

Key Stakeholders
TB, FCC, Credit and OR

Other Responsibilities

Risk Mitigation
* The Floating Manager must be able to assist and/or substitute for Line Manager ensuring that all staffs are fully trained in all of the operational aspects of their positions and remain current with changes to interpretations or practices covered by the Bank's DOIs and policy positions, the various ICC publications governing trade operations and the Commerce and Treasury Department's regulations pertaining to the trade business.

* The Floating Manager must be able to assist and/or substitute for Line Manager ensuring that the staff is fully trained and functioning well in their respective positions. Must quickly disseminate all updates and changes to the Bank's CDD (Customer Due Diligence) and Money Laundering Prevention requirements, including but not limited to Trade AML Red Flags and EDD (Enhanced Due Diligence) requirements.

* Additionally, the Floating Manager must be able to assist and/or substitute for Line Manager to ensure that new staff is fully trained in Sanctions, AML, Anti-Boycott policies and completes all the required mandatory e-learning within thirty (30) days of joining the Bank and.

* Ensure that the staff takes all steps necessary to protect and properly secure the instruction media, applications, SWIFT messages, commercial, financial and title documentation, the negotiable instruments, etc., that belong either to the Bank or its clients.

* The Floating Manager must have understanding and adhere to all the aspects of ORF, be aware of audit findings and recommendations of prior audits and assist in testing and implementation of the same.

Operations and Production Management

* Apprise senior managers on the quality and adherence to standards of GBS production teams.

* Actively participate in the development and implementation of recommendations or solutions when production or service related problems are identified.

Administrative Responsibilities

The incumbent must work diligently with the Line Managers in supporting units to achieve consistently high levels of integrity in those manual and electronic reporting systems that monitor production, accounting, risk matters (credit matters, OFAC data, and production system accesses), instruction validation, records warehousing, etc.

QUALIFICATIONS: Training, licenses, memberships and certifications

* Minimum of ten (10) years of direct day-to-day bank operations management experience in all aspects of the commercial, standby Letters of Credit, Documentary Collections and Bank-to-Bank Reimbursements under Documentary Credits lines of business.
* Extensive understanding of Trade Processing Systems and various other financial and communication systems that support trade operations.
* Thorough working knowledge of the UCP600, Uniform Customs and Practices for Documentary Credits, July 1, 2007, the ISP98, International Standby Practices, January 1998, URC525, Uniform Rules For Collections, URDG 758, Uniform Rules for Demand Guarantees and URR725, Uniform Rules for Bank- to-Bank Reimbursements under Documentary Credits, effective 1 October 2008. Also, the qualified person must have a thorough, practical knowledge of the Commerce and Treasury Department's regulations and guidelines pertaining to Sanctions, anti-boycott compliance and the OFAC (Office and Foreign Assets and Control).
* Strong communication and leadership skills