Sr. Officer – Transaction Services

Correctly processes payments and clearing transactions, comply with all the policies and procedures of operations, process LCs, LGs & BCs including (issuance, amendment, advising, checking documents, settlement, acceptance correspondences and filing ) ensuring excellent customer service and compliance with the Bank and ICC regulations.

Responsibilities:

Main Tasks & Accountabilities:

Executing Trade and payment transactions:

• Execute all the remittances instructions received are fine to be processed.
• Check the instructions and verify the document.
• Report any discrepancies to the branch or department.
• Follow up with the concern branch or department.
• Process the instructions complying the SLA and TAT agreed.
• Execute that all the instructions received from branches are processed.
• Execute that all the inward & outward cheques are cleared and responded on the same day.
• Ensure that all PDC sets are scanned into the system.
• Execute all Nostro account reconciliations on a daily basis.
• Execute and follow up all letters of Credit, Letters of Guarantee and bill(s) for Collection related transactions (Issuance transactions (issuance/ advising, amendment, checking documents, acceptance, payment, , cancellation….. etc.) as per SOP, BN SOP, CBO rules & regulations, and ICC publications.
• Checking the documents under LC against LC terms and conditions, ISPB and UCP 600 and advice customer and correspondent bank accordingly
• Handling of discrepant documents to ensure that discrepant documents presented under import & export LC(s) have been rejected within the specific period stated in UCP.
• Maintain all the documents under LC, LG, and BCs in fireproof cabinet until the final release to the customer/correspondent bank.
• Execute daily / monthly reconciliation of GLs vs. TFA balances to ensure proper
• Settlement and reconciliation for LC’s activities.
• Execute daily / monthly reconciliation of TF suspense accounts balances to ensure proper and accurate closing / settlements.
• Respond to customers’ inquiries and overcome objections, aiming at providing quality service for customers.
• Reply LCs related -Sharia and Internal Audit findings and coordinate with the line manager to identify the potential risks and take corrective actions.
• Implementation of procedures and controls covering LC products so that all relevant procedural legislative requirements are fulfilled while delivering a quality, cost-effective service to customers, 

Reporting:

• Present timely and accurately submission of all internal / external returns.
• Present the reports required by CBO, Finance and the Management.

Business process Re- Engineering

• Timely escalation of real / potential issues and action for resolution
• Identify area of automation and provide constructive suggestions for changes.
• Assist line manager in bringing the quality and efficiency in processes.
• Assist line manager to enhance quality, cost saving and efficiency in existing procedures through constructive feedback/ suggestions.  This includes identification of automation.