Manager, Standby L/C, Letter of Guarantee

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Manager, Standby L/C, Letter of Guarantee

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





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.

Global Transaction Banking (GTB) brings together cash management, payments, business deposits, electronic banking, trade services and correspondent banking services from across the Scotiabank to meet the banking needs of customers around the globe. Together, our people’s expertise and enthusiasm helps develop customized solutions and seamless integration of our products and services.


The TSC Manager is responsible for leading a team of trade services’ experts in the delivery of consultative, value-added client service and compliance of the Bank’s AML, KYC policies and in managing the overall operations of the TSC, including the tracking and analysis of trade business volumes.


1. Lead the delivery of superior client service by:

– Providing guidance and direction in the provision of consultative, value-added, effective and efficient customer service and support
– Ensuring all aspects of the customers’ trade needs are addressed in a manner consistent with Scotia Service Standards and Complaint Resolution Standards and in doing so positively differentiate the level of service / support provided to the customer from that provided by other financial institutions as it related to trade services.
– Negotiating with the customers and/or GTB Sales the terms of the proposed trade instruments and making final decisions or where escalation is required recommending solutions to the Director, Trade Services Centre.
– Establishing, monitoring, coaching to and ensuring adherence to Service Level Agreements
– Resolving all escalated customer concerns and issues
– Dealing directly with clients when appropriate, in order to provide expertise and recommendations as required
– Developing and maintaining expert knowledge and strong understanding of Global Transaction Banking trade products, services and pricing
– Coaching to a client experience that delivers high degree of innovative service and support, while maintaining an overall low level of risk for the Centre
– Identifying potential additions and/or improvements to department customer databases and business processes to increase productivity
– As a function of the processing of trade transactions, look for opportunities to identify potential business referrals.
– Participating in client meetings when appropriate, in order to provide expertise and recommendations on trade instrument structure, processing procedures as well as Service Level Agreement.
– Act as the unit Compliance Officer, reviewing and monitoring transactions to ensure they adherence to the current version of GTB’s Compliance Trade Services & Financial Institutions KML/AML/ATF Policies & Procedures handbook.
– Ensuring the compliance of all activities and transactions executed in the Centre are in accordance with the Bank’s KYC, due diligence, and AML policies, including, but not limited to, the completion of TFAP, World-check, identification of red flags, and the documentation of due diligence activities under ‘Appendix C’ of said Compliance handbook.
– Reviewing TFAP’s, assigning a Risk Profile rating based on the guidelines stipulated in said policies.

2. Manage operational controls, risk and compliance by:

– Providing specialist technical, transactional, compliance and risk management direction to team members on specific matters relating to trade service business
– Ensuring the accurate set-up and maintenance of GTB’s Trade Service client and documentation database information
– Monitoring and evaluating exception situations and recommending course of action to reduce / minimize potential losses
– Managing the SLA by ensuring all transactions are processed and authorized in accordance with established timeframes and transaction limits
– Monitoring and maintaining credit and/or security procedures in accordance with Bank policy and Uniform Rules
– Ensuring detailed deficiency lists are developed and actioned for all customer trade documentation deficiencies
– Ensuring all non-standard customer documentation is identified, documented and appropriately authorized
– Reviewing transactions processed by the Assistant Manager and Trade Specialists as per the Post Review Process for Transaction Limits of Trade Services Centre guidelines to ensure transactions are processed in accordance with SLA, TSC Processing Limits, AML & KYC Policy & Procedures, TSU Handbook as well as operating procedures.
– Regularly monitoring and reviewing the appropriateness of the system access rights (including TLE) for each employee as per the Bank’s respective policies.

3. Manage day-to-day operations of the TSC by:

– Establishing, monitoring and reporting on the Department’s operating budget
– Identifying operational efficiencies through effective resource management
– Developing and maintaining operational control points, operational integrity and data confidentiality
– Managing TSC real estate, technology, telephone and equipment requirements
– Developing, maintaining and monitoring the Centre’s Business Continuity Plan and Occupational Health and Safety program
– Managing the delivery of all financial and non-financial reporting requirements

4. Provide strong team leadership to motivate and develop individual and team performance.


– 5-10 years of Trade Experience
– Expert Knowledge of trade related products, services, processes and pricing
– Excellent knowledge of Bank’s regulations, policies, procedures, operations and functions
– Working knowledge of Bank’s business related products and services
– Thorough knowledge of the Bank’s transactional services
– Working knowledge of the Bank’s Anti Money Laundering and compliance policies and procedures
– A high level understanding of trade related computer applications is beneficial
– Familiarity with workforce scheduling software is essential to ensure that workflow standards are maintained
– Working knowledge of techniques to generate quality referrals
– Thorough knowledge of the Bank’s automated systems

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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