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Manager, Mid Office, Commodity Trade Finance (CTF)

Job Information
Author ahnationtalk
Date April 10, 2015
Type Full Time
Company Scotiabank
Location Toronto, ON
Category Banking / Finance
Client Scotiabank
Contact Information
To apply for this position please CLICK HERE

Scotiabank

 

 

 

Join the Global Community of Scotiabankers to help customers become financially better off.

A Best Workplace

Scotiabank is a premier financial institution and Canada’s most international bank recognized as a Best Workplace®, in Canada, Mexico, El Salvador, Costa Rica, Puerto Rico, Dominican Republic, Panama, Peru, Chile and Latin America by the Great Place to Work® Institute.

A multinational winning team
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. We are dedicated to helping our 21 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management, corporate and investment banking.

Corporate Social Responsibility
Scotiabank helps to build bright futures worldwide through ethical banking practices, environmental awareness and a commitment to communities.

POSITION SUMMARY:

The Manager, Mid Office is responsible for reviewing and approving CTF transactions before passing them on to operations (TSC/TPC) for processing. Such verifications include limit checking, signature verification and ensuring an alignment with terms and conditions of authorized credit limits. The incumbent is responsible for preparing Facility Checklists as per 1035 and Terms and Conditions parameters and other conditions of credit approvals, for executing, registering, recording, maintaining and storing transaction-level documentation and Client Onboarding Forms, assessing the quality and accuracy of such documentation related to CTF portfolio including but not limited to:

* Payable Financing products
* Trade Receivable Purchase products
* Other Structured Trade products

Under the guidance of the Senior Manager, Mid Office, the incumbent is responsible for identifying and recording discrepancies on supporting documentation submitted by clients and for communicating areas of concern or changes required to the Director CTF for resolution with the clients. In addition, the incumbent is responsible for monitoring Conditions Precedent from a documentation perspective ensuring all conditions are met prior to setting any credit facility, or approving any transaction.
Success is achieved by providing expert document support to the CTF team and its customers. You are responsible for timely and knowledgeable customer service through your daily interactions to foster a relationship of mutual trust and confidence with our customers and other employees while ensuring the safeguarding of the Bank’s assets through existing or new processes.

KEY ACCOUNTABILITIES:

1. Contributing to the overall business objectives of the CTF by:

* Ensuring transaction level documentation is executed in accordance with Loan Authorizations received from CTF / GRM.
* Executing a detailed transaction review program ensuring all assigned transaction-level documentation meets the specifications stipulated by GRM in credit authorizations (1035, terms and Conditions, MRAP, etc).
* Obtaining any required signoff by appropriate stakeholders prior to recommending authorization of the commencement of account (loan or deposit) activities.
* Ensuring all assigned Loan documents received from CTF are accurate, complete, properly executed, registered as required.
* Maintaining the high standards stipulated by the Senior Management.
* Preparing Facility Checklists that conform within credit authorizations on file and ensuring the authorizing incumbent has all of the information required to approve the set-up of credit facilities in the Input Facility, and to ensure that only authorized credits / drawdown are executed by the Trade Services Centre.
* Monitoring due dates and communicating with Trade Services Centre to ensure receipt of payments by due dates.
* Preparing Transmittal/Forms for the proper collection of service charges/interest arrangements as appropriate and authorized and advising management of any outstanding/uncollected charges on a monthly basis.
* Responsible for escalating all exception items and matters requiring attention to senior management
* Maintaining detailed Deficiency Lists for all customer documentation, escalating and reporting to the Director, Commodity Trade Finance (CTF) until all issues are resolved or formal written instructions are provided by the appropriate authority to cease follow up / correction activities.

2. Assist the CTF team in the delivery of the top quality Customer Service Experience by:

* Ensuring all interactions with both customers and the CTF team are conducted in a professional manner and in such a way as to protect the positions of both the Bank and the customer.
* Identifying, documenting and escalating to the Director, CTF any unique non-standard customer documentation. Liaising with CTF Team as instructed by the Senior management.
* Dealing directly with CTF Team where required in order to ensure proper execution of transaction -level documentation.
* Looking for and recommending opportunities to simplify, eliminate or automate activities to improve overall productivity and service.
* Responding to questions and requests from the operations and/or sales teams in a timely and efficient manner.
* Maintaining a sound working relationship and acting as a point of contact for all sales and service functions dealing with / escalating concerns as appropriate.

QUALIFICATIONS:

* 3-4 years of credit experience (commercial or corporate credit underwriting or analysis is required)
* Strong ability to influence and negotiate effectively
* Proven ability to analyze and execute transaction for a portfolio of accounts
* Strength in processing controls
* Strong written and verbal communications skills; ability to speak one or more languages highly desirable (e.g. Spanish, Portuguese)
* Interest in international issues, including an awareness of global trade flows and business trends (economic, regulatory, political, social, legal, and technological conditions and other factors)
* Highly organized with the ability to manage time effectively
* Expert knowledge of the Bank’s operating, sales, and product documentation.
* Thorough knowledge of loan documentation and credit approvals.
* Thorough knowledge of the steps / requirements – legal and otherwise – required to maintain the enforceability of all terms and conditions stipulated in agreements between the customer and the Bank.
* Working knowledge of related regulatory requirements including AML&KYC and Client Onboarding Policy

OTHER INFORMATION:

The position will be located in Toronto.
Experience in GRM, Execution, Credit Solutions, or BSC Client Portfolio Management Group is an asset.

Scotiabank is an equal opportunity employer and welcomes applications from all interested parties. We thank you for your interest, however, only those candidates selected for an interview will be contacted. No agencies please.

To apply for this position please CLICK HERE

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