Sr. Officer – Transaction Services

lxbfYeaa - Oman - muscat

Job Purpose


Correctly processes payments and clearing transactions, comply with all the policies and procedures of operations, process LCs, LGs & BCs including (issuance, amendment, advising, checking documents, settlement, acceptance correspondences and filing ) ensuring excellent customer service and compliance with the Bank and ICC regulations.


Responsibilities


  • Execute all the remittances instructions received are fine to be processed.
  • Check the instructions and verify the document.
  • Report any discrepancies to the branch or department.
  • Follow up with the concern branch or department.
  • Process the instructions complying the SLA and TAT agreed.
  • Execute that all the instructions received from branches are processed.
  • Execute that all the inward & outward cheques are cleared and responded on the same day.
  • Ensure that all PDC sets are scanned into the system.
  • Execute all Nostro account reconciliations on a daily basis.
  • Execute and follow up all letters of Credit, Letters of Guarantee and bill(s) for Collection related transactions (Issuance transactions (issuance/ advising, amendment, checking documents, acceptance, payment, , cancellation….. etc.) as per SOP, BN SOP, CBO rules & regulations, and ICC publications.
  • Checking the documents under LC against LC terms and conditions, ISPB and UCP 600 and advice customer and correspondent bank accordingly.
  • Handling of discrepant documents to ensure that discrepant documents presented under import & export LC(s) have been rejected within the specific period stated in UCP.
  • Maintain all the documents under LC, LG, and BCs in fire proof cabinet until the final release to the customer/correspondent bank.
  • Execute daily / monthly reconciliation of GLs vs. TFA balances to ensure proper
  • Settlement and reconciliation for LC’s activities.
  • Execute daily / monthly reconciliation of TF suspense accounts balances to ensure proper and accurate closing / settlements.
  • Respond to customers’ inquiries and overcome objections, aiming at providing quality service for customers.
  • Reply LCs related -Sharia and Internal Audit findings and coordinate with the line manager to identify the potential risks and take corrective actions.
  • Implementation of procedures and controls covering LC products so that all relevant procedural / legislative requirements are fulfilled while delivering a quality, cost-effective service to customers.
  • Present timely and accurately submission of all internal / external returns.
  • Present the reports required by CBO, Finance and the Management.
  • Conduct UAT and system understanding of transactions.
  • Timely escalation of real / potential issues and action for resolution
  • Identify area of automation and provide constructive suggestions for changes.
  • Assist line manager in bringing the quality and efficiency in processes.
  • Assist line manager to enhance quality, cost saving and efficiency in existing procedures through constructive feedback/ suggestions. This includes identification of automation.


Experience:


  • 2 – 4 years


Required Qualification:


  • Essential (E): Bachelor in Banking Science, Finance, and Accounting or in any Business Administration related field.


Professional Qualification


  • Certified Documentary Credit Specialist (CDCS), Certificate for Specialist in Demand Guarantee (CSDG)


General Competencies


  • Technical Skills, Skills in using computer and dealing with different applied systems.
  • Microsoft Office - Intermediary level
  • English Language - Intermediary level

Post date: 15 August 2024
Publisher: LinkedIn
Post date: 15 August 2024
Publisher: LinkedIn