Operations: a range of essential and complex services to ensure processes across the bank work as effectively and efficiently as possible
Responsible for the accurate end to end processing of Trade Finance (Back to Back Letters of Credit, Transferable Letters of Credit, Trade Loans, Open Account Trade Finance) transactions in accordance with the international standard banking practices, rules with the view of avoiding reputational and financial risk for the Standard Bank group.
Advising, Issuing and Amending all Back to Back and Transferable letters of credits
Receive and examine the workability of the incoming Letter of credit of a Back to Back and /or transferrable transaction which includes regulatory and compliance checks
Assess the request for confirmation on the Back to Back and /or transferrable transaction and submit request to the relevant area for bank and country risk approval
Communicate the rate from Bank Sector Ops team to the customer
Perform a due diligence task on the pro forma invoice received together with Application form to determine the workability on the Import Letter credit of the Back to Back Letter of credit.
Prepare drafts where requested and obtain necessary approvals from client and Sales
Expunge exposures for Back to Back clients on source system
Create, control and update a reconciliation spreadsheet to manage the downstream exposures of all activities of the Back to Back and/or transferable letter of credit transaction.