Trade Finance Senior Specialist

2 days ago

Kuala Lumpur, Kuala Lumpur, Malaysia Commerz Global Service Solutions Full time
Job Description:

The LC Issuance & Advising / Document Handling Senior Specialist plays a crucial role in the import and export L/C process, ensuring compliance with operating procedures, guidelines, policies, practices, code of conduct, and standards imposed by Commerz Global Service Solutions.

  • The specialist is responsible for independent handling of sections of the import and export L/C process, guided by Team Head-approved competency.
  • They will approve transactions as per the limit stated in the Individual Delegation of Release Authority Letter.
  • To equip themselves with sound knowledge of the latest versions of UCP / ISBP / Incoterms and relevant current updates of Letters of Credit, related ICC publications, opinions, and position papers.
  • The LC Issuance & Advising / Document Handling Senior Specialist assists the Team Head in overseeing daily operations routines and proactively highlighting issues to the team.
  • They work closely with Team Head in supporting and creating competitive advantage by emphasizing talent, learning, and apprenticeship through actively teaching and coaching talent and growing team members' skills and capabilities.
  • Diligent escalation of any lapses in processing/handling to the respective Team Head for close monitoring.
  • Active assurance that all key controls, daily functional checks, and end-day reconciliations are carried out.
  • Ensuring productivity targets set are duly met efficiently/accurately and processing turnaround standards are achieved within the own area of responsibility.
  • Fostering teamwork within the unit/department and organization at any given time.
  • Observance of the bank's requirements with respect to Compliance, AML, and reputational risk issues (first-level check) is indispensable in the daily course of activities.
  • Work on a cross-team basis, if needed, to support other teams based on individual knowledge and training of the underlying processes.
Key Activities - Team Specifics:

L/C Issuance & Advising (only)

  • Vetting of LC applications/examining the L/C's workability
  • Processing of transactions (confirmed/unconfirmed) in the respective systems/applications.
  • Settling unclear items with the respective branch/Financial Institution.
  • Sending internal confirmation requests to respective departments/Financial Institution.
  • Informing/Communicating with the TPCC of concluded transactions.
  • Processing and monitoring of queries/reminders etc.
  • Liaising with Regulatory/Compliance when becoming aware of a possible Compliance infringement in any other manner.
  • Processing of Bank Guarantee transactions on an ad-hoc basis.

Document Handling (only)

i. Examination of Documents:

  • Examining/processing documents in line with the competency approved by Team Head.
  • Examining/processing the documents in respective systems/applications.
  • Appropriate examination of documents and handling document-related correspondence with TPCC/banks.
  • Liaising with Regulatory/Compliance when becoming aware of a possible Compliance infringement in any other manner.

ii. Document Processing:

  • Preparing the remittance letter/acceptance advice in the respective systems/applications.
  • Booking relevant liabilities and adding charges where required.
  • Handling document-related correspondence and passing on possible queries to the competent TPCC/banks.
  • Liaising with Regulatory/Compliance when becoming aware of a possible Compliance infringement in any other manner.
  • In-depth understanding of all processes within the Trade Operations specifically from scrutinizing and processing of L/Cs, documents examinations, and payment/financing (applicable to Special Transaction & Advisory).

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