Head, Documentary Trade Operations
Salary SGD180000 - SGD250000 per annum
Consultant WeiYolk Loke (R1545553)
Date posted 12 December 2016
A globally established European bank is looking to hire a Head, Documentary Trade Operations for its Trade Finance business. The role sits within the Transaction Banking business of the bank and you will be reporting directly to the Global Head of Trade Operations.
About the Head, Documentary Trade Operations Role:
You are responsible for end to end delivery of Trade Operations globally covering all the streams of Trade Finance, namely in the area of Documentary Trade and maintenance of various operational risk related controls for the Transaction Banking business in the Singapore booking centre. Reporting directly to the Global Head of Trade Operations who also sits in Singapore, the Head, Documentary Trade Operations is also expected to monitor the performance of trade operations through key metrics such as – volume, productivity, accuracy, service levels, losses/lapses, issues and risk registers.
- Develop the strategic direction and roadmap for the Trade Finance business, align with Business Strategy, ITO Strategy and investment appetite
- Co-ordinate and monitor progress of the various strategic initiatives for end to end delivery of trade operations covering documentary trade stream and maintenance of various operational risk related controls
- Devise trade operations strategy to streamline processes, enhance productivity, reduce risk, improve controls, leverage technologies and to digitise processes with an objective of waste elimination
- Work hand in hand with the business, taking product programs from investment decisions into design, specification and solution phases, all to way to operations on the ground and securing support services from other teams
- Transform the Documentary Trade team into the best-in-class turnaround times, controls, and standards so as to provide the market's best client service, and predictable turnaround times in a manner that the risks, if any, are clearly understood and managed
- Responsible for putting in place appropriate standard processes for each product/sub-product, identifying deviations and gaps in processes, identifying potential risks and implementation of effective controls to mitigate these risks
- Ensure process-related documentation in terms of issuing Global Department Operating Instructions for all products are based on the bank’s product offerings and for the International Chamber of Commerce (ICC) Guidelines, the bank’s various policies and best market practices
- Ensure Anti Money Laundering (AML) and sanction activities are carried out at operations as detailed as in group guidelines
- Roll out new products/sub-products by defining related processes required and by issuing related documentation
- Support country trade operations and the Global Service Centres on Strategy, Operating Model, Standards and Risk Controls, and compliance with regulations
- Include all necessary internal, legal and regulatory controls through the development of trade product requirements
- Ensure compliance with all salient governance frameworks where there are direct touchpoints with them or any subsequent downstream influence from the Trade Document Operations Team
- Ensure compliance with the highest standards of regulatory and business conduct and compliance practices as defined by internal and external requirements- this includes compliance with local banking laws and anti-money laundering regulations and guidelines
To succeed in this role, the Head, Documentary Trade Operations is expected to manage a sizeable team and have extensive trade finance operations knowledge and experience.
- Ability to identify, assess, monitor, control and mitigate risks to the firm
- Ability to interpret the firm’s financial information, identify key issues based on this information and put in place appropriate controls and measures
- More than 15 years' relevant experience covering Documentary Trade Operations ideally with some time in the finance sector covering trade products with international exposure
- Collaborative skills that contribute to positive working relationships with counterparts across various stakeholders, the ability to handle cultural diversity and develop high performers
- Understanding of relevant Group, Trade AML policies and standards
The company is well recognised as one of the leading financial players in the banking industry. Singapore is an important market for the bank and corporate banking and trade finance are a vital part of the bank's business. The environment is fast-paced, dynamic and multi-cultural. If you are looking for an established platform to advance to the next stage of your career, this might be the right opportunity for you.
If you are keen to explore this role, please apply today.
Robert Walters (Singapore) Pte Ltd
ROC No.: 199706961E | EA Licence No.: 03C5451
EA Registration No.: R1545553 Wei Yolk Loke