DEUTSCHE BANK SECURITIES INC. dba Deutsche Bank Trade Finance Operation Lead in New York, New York

Job Title:
Trade Finance Operation Lead
Job ID:
3155902
New York
Full/Part Time:
Full-time
Regular/Temporary:
Permanent

Operations
Our Operations group provides support for all of Deutsche Bank's businesses to enable them to deliver operational transactions and processes to clients. Our people work in established global financial centres such as London, New York, Frankfurt and Singapore, as well as specialist development and operations centres in locations including Bucharest, Moscow, Pune, Dublin and Cary. We move over EUR 1.6 trillion across the Bank's platforms, support thousands of trading desks and enable millions of banking transactions, share trades and emails every day.

Our goal is to deliver world-class client service at exceptional value to internal partners and clients. A dynamic and diverse division, our objective is to make sure that all our services are executed in a timely and professional manner, that risk is minimised and that the client experience is positive. We are proud of the professionalism of our people, and the service they deliver. In return, we offer career development opportunities to foster skills and talent.
We work across a wide range of product groups, including derivatives, securities, global finance and foreign exchange, cash and trade loans and trust and securities services as well as cross-product functions.

Administration Level

Summary:

Responsible for processing/second checking and releasing transaction related to the Trade Finance Operations under particular Letters of Credit. The position is expected to perform, understand and apply the internal and external guidelines and regulation effectively and efficiently, and have the ability to manage multiple task and duties as assigned. Review the terms and conditions of the Letters of Credit applications and documents to ensure their compliance with all compliance requirements including Anti-Boycott regulations, OFAC, BSA, AML, UCP/ISP guidelines and practices, local and global bank's policies and procedures (KOP). Communicate with customers and/or account officers, capable to timely resolve and identify issues related to L/C or amendment application. Review, perform and release L/C and amendment entries accurately in accordance with the standard procedures and instructions under various type of L/C's including: Issuance, Advising, Participation, Collateral, Transfers/Assignments, and accurate fee processing in system.

Responsibilities:

  • Ensuring that all transactions are issued/advised/amended/paid, second checked and released as instructed, reconcile by end of day.
  • The work in process queue and error queue are reconciled and all items assigned are accounted as requested reconciled.
  • Assist management with the daily work flow and monitor pending transaction.
  • Second check and verify transactions.
  • Ability to perform reconciliation of L/C fee received/paid against the accrued amount or pending bills in the system, ensuring that fees are properly received and applied.
  • Check L/C documents as per L/C terms and conditions, process payments and perform entries in accordance with the presenting/negotiation bank's or beneficiary's payment instructions.
  • Follow ups on pending transaction, unpaid fees and bills and tracers as per proper procedures.
  • Perform excellent back up functions as necessary.
  • Ability to conduct operations training to the team members by providing the necessary knowledge and skills in handling all types of transactions.
  • Assist the management in preparing various internal/external and special projects with the required data and accurate information.
  • Perform follow up reconciliation as per internal procedures and audit guidelines.
  • Report and resolve an identified irregularity in accordance with established procedures.
  • Respond to all inquiries received from client, Front Office, and correspondent banks providing the required information accurately for the timely resolution of such queries. Provide the management with the status of backlog and escalate immediately for any incident.
  • Provide prompt and reliable customer service consistently to improve the departmental goal of delivering a high quality customer's satisfactory.

Requirements:

  • College Degree and at least five years of banking Operations experience or knowledge of International Trade Operations.
  • Strong written and verbal communication skills and Customer Service.
  • Ability to work in a team with a high volume department and self-motivated environment with good inter personal skills.

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Deutsche Bank is an Equal Opportunity Employer - Veterans/Disabled and other protected categories.