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Guarantees Administrator (Trade Finance)

Employer
Johnson & Associates Recruitment Specialists Ltd
Location
London, UK
Salary
Competitive
Closing date
26 Nov 2020

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Sector
Accountancy
Contract Type
Permanent
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Job Details

We are currently representing a London based International Bank who are seeking an experienced Guarantees Coordinator to join their Trade services Operation team on a 6/12 month fixed term contract.

Main Responsibilities of the Guarantees Administrator:

* Ensuring that all incoming instructions from customers/branches and other banks are handled within agreed turnaround times and without errors.

* Dealing with all administration under Guarantees including the daily list of periodic commissions to be debited or claimed from customers/banks.

* Ensuring that all the necessary correspondence in respect of guarantee issuance is dispatched promptly to the required parties.

* Shares advising movement of funds to Settlement Dept. before the stipulated cut off times.

* Assist in resolving queries relating to work processed on the section

* Other duties relating to Trade Services processing as required by the Manager

* Share responsibility for clearing outstanding Nostro items relating to guarantees

* 1st Review of guarantee texts where required and advise findings to senior staff for further action.

* Maintain knowledge of all applicable regulatory requirements including the Bank's Risk and Compliance policies and procedures and adhere to these.

* Accurately execute all controls within own area to minimise risk of policy, procedure, and/or regulatory breaches.

* Act as the "First Line of Defence".

* Responsible for the accurate execution of Financial Crime Prevention controls in accordance with the Bank's and Departmental policies and procedures.

Experience required of the Guarantees Administrator:

* A Minimum of 4 years Guarantees experience ideally within a banking environment.

* Up-to-date knowledge of URDG rules

* Ideally mid-tier or smaller bank exposure
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