Junior Specialist Operations

* Comply with prescribed policies, processes and procedures to prevent any financial losses.* Comply with statutory and regulatory requirements, by checking that clients are FICA compliant, adhering to Exchange Control Regulations and Absa Sanctions Screening Policy.* Complete all relevant compliance training and be conversant with the relevant* regulations that impact on day-to-day functions.* Apply and interpret customer transactions through effective application of* International Chamber of Commerce (ICC) guidelines:* International Standard Banking Practice* Uniform customs & practice for doc credits (UCP 600)* Rules on international standby practices (ISP 98)* Uniform rules for bank-to-bank reimbursement under doc credits* Uniform rules for documentary collections (URC 522)* ICC official rules for interpretation of trade terms (INCO terms 2000)* Apply individual technical expertise to ensure 100% accuracy of all transactions.* Authenticate and complete instructions/transactions received within turnaround times and in line with the Absa Sanctions Screening policy.* Make suggestions to the Team Leader or Line Manager on improvements to client solutions based on knowledge of the trade value chain.* Monitor adherence to filing policies and procedures, and compliance to archiving and retrieval mechanisms that are in place for documentation.* Check that the correct balance of payment (BOP) reporting for exchange control purposes is done* Identify losses due to processing errors or internal fraud in the department. Escalate to the manager and provide all the required information to allow logging of the Risk and Loss events and participate in the investigations.* Verify International Financial Institution (IFI) and Group legal departments’ opinions and authorizations on transactions.* Monitor and ensure compliance with prescribed polices, processes and procedures to prevent any financial losses when verifying, authorizing and releasing transactions. This includes mandates, waiver of commissions and ICC rulings.* When verifying, authorizing and releasing transactions, check for compliance with statutory and regulatory requirements by ensuring that clients are FICA compliant. Adhere to BOP, Exchange Control Regulations and Absa Sanctions screening policy.* Complete all relevant compliance training and be conversant with the relevant regulations that impact on day-to-day functions.* Verify, release and authorize work by tracking and actioning workflow queues within agreed time standards.* Apply individual expertise to ensure 100% accuracy of transactions verified, released and authorized.* Satisfy customer needs through the effective and efficient resolution of customer queries escalated from the team, customers or the Bank.* Monitor to ensure that resolutions are documented and follow up with internal and external customers to satisfactory resolution of their issues/queries.* Maintain quality standards in respect of client service by ensuring that team members are trained and aware of standards.* Based on observations made when interacting with clients, make suggestions for improvements to transaction flows and to client solutions based on knowledge of the trade value chain.* Highlight issues and make suggestions to product teams to improve customer service.* Grade 12/ NQF Level 4* Minimum 2 years’ experience in foreign exchange* Minimum 1 year exposure to reconciliations function* 3 years’ experience in Trade finance/documentary trade (including import and export letters of credit, documentary collections and related products)* Knowledge of International Chamber of Commerce rulings and publications* UCP 600 Uniform Customs Practices* ISBP International Standard Banking Practice* URR 725 Uniform Rules for Reimbursements* ISP 98 Rules on international stand-by practices,* URR 528 Uniform rules for bank-to-bank reimbursement under doc credits,* URC 522 Uniform rules for documentary collections* INCO terms 2000 ICC rules for interpretation of trade terms* **Knowledge of regulatory and statutory requirements**: FICA, Exchange Control, Sanctions Trade Finance, Money laundering* Analysis of verbal and numerical data* Knowledge of banking systems* Thorough knowledge of Letters of Credit, Foreign Guarantees & Bills for Collection* Computer literacy#J-18808-Ljbffr