Middle Office Operations Specialist SG

2 weeks ago

Singapore CIMB Group Full time $80,000 - $120,000 per year

Responsibilities:

  • Responsible for the operational control of trade finance products such as Letters of Credit (LC), Standby LCs (SBLCs), guarantees, and other structured trade instruments.
  • Ensure all trade-related documents are processed accurately and adhere to regulatory standards.
  • Oversee trade settlements, payments, and confirmations to ensure timely execution of transactions.
  • Liaise with various internal and external stakeholders to facilitate smooth trade flows and address any issues that arise.
  • Oversee review and control of all issuances and amendments to ensure compliance with internal policies, trade finance regulations, and trade-related rules (e.g. UCP, ISBP, URC, ISP)
  • Ensure all transactions adhere to delegated authority limits and that proper approval workflows are followed.
  • Coordinate with BU/RM/stakeholders for any operation issues.
  • Facilitate strong partnerships across various stakeholder groups and ensure alignment of objectives and goals to minimize overlap or gaps arising during execution of role and responsibilities.
  • Ensure adherence to departmental policies, procedures and SOPs, and aligned with the Bank's policies and procedures.
  • Identify, monitor, and mitigate operational risks, control gaps and exceptions in trade operations.
  • Conduct periodic reviews, reconciliations, transaction monitoring, and escalate control issues or breaches as needed.
  • Ensure that all RCSA, SHARP & any regulatory reports are submitted on time.
  • Ensure compliance with MAS regulations 626 and 641, 646, Banking Act (Chapter 19).
  • Ensure timely assessment, escalation and resolution of operational risk event to minimize potential losses. Conduct deep-dive into operational risk events through understanding the sequence of events to identify the root cause / control weaknesses for establishing and implementing mitigating controls/preventive action plans.
  • Support process improvements, technology implementation for automation, control efficiency, and reduce manual errors.
  • Work with ITD on the system and application related matter, including enhancements, resolution of issues, new product/process, industry related requirements, etc.
  • Participate/manage projects related to Document and Data Management Unit.
  • Provide business requirements, review Functional Specification Document (FSD)
  • Monitoring the projects that the team participated in for the testing.
  • Liaising with IT, BU or vendor on the defects, changes/resolution on the defects etc.

Requirements :

  • Minimum qualification of University Degree or Diploma or equivalent
  • Minimum 7 years experience in Trade Finance operations, preferably in Structured Trade and Commodity Finance Middle Office.
  • Possess Certified Documentary Credit Specialist (CDCS) qualification will be an added advantage but not compulsory
  • Conversant and competent in application of UCP600, ISBP, ISP98, URDG758, URR725, URC522, URR525 and Incoterms.
  • Good knowledge in handling structured and commodity trade finance operations.
  • Knowledge of pledge, assignments of receivables on documentary credits etc.
  • Strong interpersonal and communication skill.
  • Ability to work cohesively to build alliances and partnerships with other stakeholders.

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