Bank Of America Vice President Head Trade Operations 

Singapore, Singapore 

486712007

Your background

• At least 10 years’ working experience in area of Trade Finance Operations in a bank Specializing in Bankers Guarantees, Letters of Credit issuance & Negotiation and Supply Chain Financing, in addition to knowledge and experience in other Trade products.

• Knowledge of Trade and non-Trade Loans and Credit Operations will be a bonus.

• Ability to communicate effectively both orally and in writing, with both internal stakeholders and clients.

• Ability to plan and prioritize the daily work to achieve efficient and effective management of time.

• Be able to work well with all associates and actively promote a cohesive working environment.

• Be client focused in providing a high level or customer service and conscientiously aware of the quick turnaround time on the checking of documents.

• Excellent presentations, communication, time management, problem solving, interpersonal and teamwork skills.

• Basic PC skills (Words, Excel, PowerPoint is minimum).

• Innovative and open minded, maintaining a professional & positive attitude at all times.

• Able to work under pressure & challenges.

• Good understanding and application of the UCP600, ISBP, URC 522, URDG 758 and bank guideline and policies, compliance and audit requirements.

• Good understanding and knowledge of OFAC/Anti-boycott/Anti-Money Laundering/High Risks Transaction.

Banker’s Guarantees, SBLC Issuance / Amendments / Renewal (Primary Duties):

• Reviewing of guarantee and SBLC format in accordance to the guideline laid down by legal and product team.

• Escalate and obtain approval from Trade Control and Credit Department when necessary.

• Scanning of required documents for GBS’ processing.

• Attending to back-end processing team and customers queries/clarifications via emails in a timely manner.

• Ensure all transactions are accurately processed / verified in accordance with customer’s instructions and according to the bank’s operational procedure and policies.

• Print out completed BG, obtain Officer’s signature as per delegation of authority (For Mail Guarantee / Amendment).

• Daily check in the Trade E-Banking platform system with which clients may submit the guarantee/SBLC applications online.

• Ensuring timely review of daily report to ensure prompt actions to be taken for expired guarantee/SBLC.

• Updating of guarantee daily tracker and follow up with clients for status.

• Daily reconciliation between processing team and end of day email to ensure item scanned are duly processed.

• Follow up with correspondent bank for guarantee issuance and charges.

• Follow up with client on all outstanding charges.

• Ensure amortization of issuance commission is done by the processing team by 15th of every month.

Import Letters of Credit

• Manage Issuance of Letters of Credit with clients and the processing team.

• Attach negotiation advice with copy of invoice and Bills of Lading (B/L) for release to customers over counter.

• Fax or email customer and photo-copy covering schedule.

• Record the Negotiation advice for customer to collect.

Import LC Payments:

• Print Notice of Arrival of document covers.

• Fax or email covers to customers.

• Receive customers’ signed payment instructions.

• Prepare for release of documents with B/Ls or Airway Bills (AWB) duly endorsed to the counter.

Acceptance of Usance bills:

• Print Notice of Arrival of document covers and prepare for release of documents to applicant with B/Ls or AWBs duly endorsed upon receipt of the Acceptance advice.

• Receive customers’ signed acceptances.

• Affix the acceptance stamp on the draft drawn by the beneficiary and calculate and determine the maturity date of the bills.

• Sign on accepted drafts and scan drafts and notification of customer’s acceptance with maturity date for the GBS team’s processing.

• Reflect the loan number in bank schedule.

• File usance drafts - according to maturity dates.

Processing of Usance Bills at maturity:

• Receive processing team’s email notification of due date maturities and ensure that the GBS team processes the payments on due date.

• Stamp “PAID’ at maturity and close file

Miscellaneous tasks

• Attend to clients at the Trade Counter.

• Receipt of transactions documents via Mailroom, Fax Machine and Counter and record in trackers.

• Daily check in Trade E-Banking platform and 3rd party doc prep system with which clients may submit documents online.

• Perform document count to reconcile with client’s presentation and prepare Index Sheet for scanning.

• Scan Index Sheet and documents to GBS checking teams.

• Prepare of DHL courier receipt for documents to be dispatched.

• Sending of daily EOD reconciliation email to GBS of documents scanned.

Additional Duties

• Providing guidance and support for teammates.

• Governance activities such and reviewing of Controls, procedures, and reporting.

• Projects and initiatives such as process improvement projects for the team and department.

• Pitching in to support BAU activities if the team is shorthanded.