Trade Ops Officer

Job Requisition ID: R-15976626

Location: Head Office NBC, Tanzania

Job Type: 1 (Full-Time)

NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

Job Summary

To provide advice and support in operational management and to develop, maintain and enhance operational business relationships, through the execution of predefined objectives as per agreed SOPs.

Job Description

BUSINESS EXECUTION AND PERFORMANCE - 30%

• Ensure all customer Documents, instructions/application received from Branches, Currier service (DHL) or directly from Customer stamped with received stamp and recorded in the respective products registers and actioned as per NBC Policy and procedures
• Examine customers' application for workability by Ensuring all necessary documents and details are provided whereby the requests were signed as per account mandate and verified before processing
• Ensure customers' account has sufficient balance to cover processing Commission, charges and/or cash cover (if applicable) before FCC and/or MORONGWA transactions Booking
• Manage trade products processes by adhering to operation manual and process maps whereby ensuring that all applications, payments, and claims are dealt with accurately and timely.
• Daily reviewing and printing of all trade finance related inward swift messages falling under your area of responsibility from Morongwa and identify those need be worked upon/responded and assign to maker and follow up for closure.
• Daily reviewing of maturity reports on various products falling under your area such as LC Bills, import LC, Bank Guarantee, Trade loans and unpaid export bills and advise for settlement or closure for non-performing or expired contract.
• Daily reviewing of Nostro reconciliation report as will be circulated by the reconciliation team identifying and working on all Trade finance outstanding entries such as liquidated lc Bills, Export proceed etc to ensure they are not going beyond 3 working days.
• Working closely with other units within the Banks such as Business Bank (BB), Corporate and Investment Banking (CIB), Legal, Treasury, Finance including Group and other local and foreign counterparties for the consistent achievement of agreed service standards.
• Ensure commission and charges are collected as per prevailing bank tariff guide or per customer approve rate given in the approved facility letter documents or as will be approved from time to time
• Provide support to the line manager by ensuring effective teamwork across the Trade Operations Unit.
• Set own personal development goal objectives and completed all required actions to achieve.
• Ensure proper filling of transactions such as lc, gtee, collection and trade loans is done according to the agreed filing style and transaction status in the cabinets for future recording and easy of retrieval

INNOVATION AND CHANGE - 10%

• Support Business on new trade finance products initiation including process changes from testing stages (UAT) till implementation as and when the need arises.
• Provide suggestions to the line manager on process change, improvements (if any) to improve unit efficient in transaction processing.

CUSTOMER SERVICE AND STAKEHOLDER MANAGEMENT - 30%

• Own and Manage Trade Operations queries and complaints falling under you line of responsibility and ensure they are recorded and resolved conclusively and timely. Work in alignment with the agreed Service Level between the department and other stakeholders within the Bank to ensure smooth transactions flow from when received, reviewed for workability to when the limit marking request is sent and marked for execution.
• Ensure your day-to-day operations are geared toward meeting or exceeding the agreed service levels (both internal and external), by taking ownership of overall service performance and accuracy levels in the assigned responsibility for timely transaction execution.
• Perform periodic products maturity reports and timely notifying customers for either extension or closure to avoid holding their position for new deals and misleading the Bank position.
• Provide support and produce evidence to auditors as and when will be required during internal and external audit activities.
• Take accountability for the overall achievement of Trade Operations Unit performance objectives in terms of: Customer experience, Risk and rigor management, Cost Management
• Perform any other duty as will be assigned by the supervisor from time to time.

CONTROLS AND RISK MANAGEMENT - 30%

• Ensure that all activities and duties are carried out in full compliance with current regulatory requirements, NBC Policy, and procedures together with Group Standards.
• Ensure compliance to UCP 600, URC 522, URR, URDG758, Foreign exchange Controls on payments, NBC operating procedure and AML/KYC during handling of import and export letter of credit, import and export bills for collection, Trade loan and Bank Guarantee are adhered
• Understand and manage key risk indicators falling under the role and escalate any risk issues in a timely manner.
• Ensure adherence to the Group IT security policy and controls in accessing the system.
• Comply with Operational risk and rigor in respect to protecting our people, customer’s assets, and the organization.
• Ensure adherence to the delegated matrix during transaction handling and processing.
• Ensure leave days are fully utilized and handover processes are adhered before proceeding on leave.
• Ensure screening for all eligible trade transactions is done before authorization in the FCC and/or Morongwa also AML check and other sanctions related issues are performed whereby supported by AML checklist attached.
• Ensure Valid and approved Customer facility letters for LC, Gtee, Avalized bills and Trade loans are available, utilization is verified against approved limit and Limit is set by RCU before authorization of LC, Gtee and Trade loans
• Ensure end of Month reconciliations on letter of credit, Cash cover, Guarantee, Trade loans, and also carry out monthly income reconciliation on LC and Guarantee etc are done

Education and Experience Required

University Degree in Banking, Accounting, Finance and Business Administration

At least 4 years (Technical) experience

Knowledge & Skills

• Good knowledge of Banking products and services
• Proficient in internal computer Operating Systems and Applications.
• Good knowledge of all trade products.
• Knowledge of International rules governing trade operations. Including the UCP600 and, ISP 98, URC 522 and URDG.
• A working knowledge of relevant legislation e.g. KYC, Sanctions Screening, Money Laundering, Service standards, Healthy and Safety Standards etc.
• Interpersonal skills: enthusiastic and diligent
• Excellent Customer Service ability

Competencies

• Delivering results and meeting customer expectations
• Customer Focus
• Accuracy and attention to detail
• Achieving personal work goals and objectives
• Following instructions and procedures
• Adhering to principles and values
• Applying expertise and technology
• Analysis, Judgment, and decision making.

Qualifications

Bachelors Degree and Professional Qualifications - Business, Commerce and Management Studies, Business Improvement Orientation (Meets some of the requirements and would need further development), Digital familiarity (Meets all of the requirements), Enabling team success (Meets some of the requirements and would need further development), Experience in a similar environment, Openness to change (Meets some of the requirements and would need further development), Operational administration (Meets some of the requirements and would need further development), Product and/or Service Knowledge (Meets some of the requirements and would need further development), Quality orientation (Meets some of the requirements and would need further development)