Head of Trade Services Department, Operations

Responsibilities:

• To provide strong leadership, guidance and management of Trade Services Department (TSD), Middle Office Operations (MO) and iCIMB (MSC) Trade Shared Services (TSS) teams.
• To manage the team’s cost within budget, risk and control, work with Business Unit on any new product, improvement of processes, meet SLA & resolution of issues for better customer experience, work with IT on system enhancement for better STP, productivity efficiency and resolution on issues encountered, ensure that regulatory reports are submitted, manage and review the processes and work flow for trade processing and to inculate customer service culture & EPICC value among the team
• Manage the team’s performance and resources to ensure delivery of efficient and responsiveness in service to both internal and external customers
• Ensure departmental policies, procedures and SOPs are effective, updated and aligned with the Bank’s policies and procedures.
• Ensure that staff are all brief on the SOP, procedures are updated and submitted on time for approval
• Ensure that all RCSA, SHARP & any regulatory reports are submitted on time
• Ensure staff comply with MAS regulations 626 and 641, 646, Banking act (chapter 19)
• Oversee the identification, assessment and monitoring of key drivers for all types of non-financial and compliance risks that could impact the Unit, including Operational Risk, Fraud Risk, Third-Party Risk, Business Continuity, Data Risk, AML/CTF, regulatory compliance and other non-financial risks that are unique and applicable to the Unit.
• Proactive risk prevention strategy by identifying and managing risk at source / emerging risks during departmental strategy planning, product design, system implementation / changes or process changes and embedding effective risk controls in the business processes.
• Perform regulatory gap analysis for new or revised regulatory guidelines or P & P impacting the department, ensuring adequate risk and control are put in place for regulatory compliance. Manage and address regulatory expectations, including audit examinations and queries
• Monitor and report risk indicators / measures, and ensure timely escalation of the department’s operational risk events with mitigating actions to stakeholders and risk committees
• Ensure timely assessment, escalation and resolution of operational risk event to minimize potential losses. Conduct deep-dive into operational risk events through understanding the sequence of events to identify the root cause / control weaknesses for establishing and implementing mitigating controls/preventive action plans.
• Lead and build a high-performing and highly engaged team and demonstrate strong leadership by leading through example and embracing corporate values
• Participate/manage projects related to Document and Data Management Unit.

Requirements:

• Minimum University Degree or Diploma or equivalent
• Minimum 15 years' experience in Trade Finance including some years of experience in credit functions and out of which at least 7 years as Head of Trade Operations and/or Trade Middle Office
• Possess Certified Documentary Credit Specialist (CDCS) qualification will be an added advantage
• Legal knowledge of pledge, assignments of receivables and legal cases on documentary credits etc,
• Conversant and competent in application of UCP600, ISBP, ISP98, URDG758, URR725, URC522, URR525 and INCO Terms.
• Experienced in handling structured and commodity trade finance operations.
• Strong interpersonal and communication skill.
• Ability to work cohesively to build alliances and partnerships with other stakeholders.