Manager: Operations

4 weeks ago

Sandton, South Africa Absa Bank Limited Full time

Empowering Africa’s tomorrow, together one story at a time.
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group. Job Summary

CIB Structured Commodity Finance (SCF) is currently looking for a Deal Manager to perform the Deal Management function for Structured Trade & Commodity Finance - specifically for the SCF Team which specializes in Agricultural Commodities. This function involves transaction validation “fit for processing”, reconciliation, risk monitoring together with ongoing life cycle management. This role will manage the interface front office and all internal infrastructure partners to ensure a smooth client experience during the life cycle of the deal. The deal manager will be required to assist with accounting and reporting of products together with substantiation.

Job Description

Key Accountabilities
- CP Management on structured deals
- Ensure all Standard and Non Standard CP’s are clearly documented and available to view for every transaction. Due dates for each CP has to be documented and tracked to ensure adherence to transaction parameters, escalate and document any missed, delayed or breached CP’s on a transaction level.
- Transaction monitoring - proactively manage milestones and ensure applicable trackers/ check lists are adhered to in line with transaction requirements
- Perform fit for processing checks - ensuring all information is accurate and meets the required standards for all respective trade transactions
- Manage and monitor all third party service providers including but not limited to (Collateral Managers, storers and traders/agents) with each drawdown and due dates.
- Stock, futures/forward position need to be well management, monitored with each drawdown and monthly.
- Client Requests: Drawdowns - preparation of finance calculations in line with product approval, intake of stock/confirmation, execute funding within SLA, stock releases, buyback requests, monitoring and capturing of deposits, stock swaps, deliveries on the JSE, and any other related requirements on execution and management of deals life cycle.
- Management of limits: Various limits to be managed as per product/credit approval
- Have a good understanding of the underlying commodity (market) that is being dealt with on each transaction before transaction is implemented and interlocking with the correct stakeholders to close any gaps on this understanding before deal is implemented.
- Front office support - participate in implementation as support to the front office. Input and support will be required to ensure new deals are operationally possible.
- Control Environment - ensure all deals comply with regulatory and legal requirements. Take responsibility for deal to ensure current controls and procedures are observed. Continuously consider risk mitigation and operational effectiveness, with monthly KRI’s reporting and providing feedback where applicable. Log all risk and loss events as they occur as a result of fraud or error highlighted in the department. First escalate to line manager and then contact ORM (Operational Risk Management) - must be able to track route cause and solution for preventative control to mitigate risk.
- Client focus - where required liaise with clients to resolve queries working jointly with various stakeholders with client visits on a case by case basis.
- Accounting - review of stock, VAT, Debtors, Financial reconciliations, daily, weekly, month end procedures, consolidation, preparation of information and review deal accuracy. Ensure that all exposures are accurately recorded on the banks systems. Review and ensure interest is passed on the correct cost centres and amounts on a monthly basis. Ensure all items are closed out as required and ensuring close attention is paid to risk mitigation activities and red flags while doing recons.
- Adhoc reporting - prepare reports and provide relevant information as and when requested by stakeholders. Assist with audit requests.
- Business Continuity Management - being able to assist and work in any one of the other areas within the SCF department if required for business continuity. (client service and recon) This will be a directive from the line manager or team leaders as and when required
- Have to participate and enable implement/monitor change/projects in the bigger team.
- Innovation - continuously investigate new and better ways to enhance the operating environment by measuring the effectiveness of all procedures.
- Comply with prescribed policies, processes, regulatory, governance and procedures to prevent any financial loss
- Proactively pick up, solution and ensure resolve of risks and issues to the end. Irrespective which department is responsible, ensure items are resolved and closed out

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