Analyst Trade Finance Operations

Scotiabank•Vancouver, BC

3d•Onsite

About The Position

Global Transaction Banking (GTB) is the payments and transaction engine of Scotiabank. We support Small Business, Commercial and Corporate clients with effective treasury management solutions coupled with a best-in-class service model, making it easy for clients to do business with us. As businesses build their digital capabilities and transform their operating models, their payment needs are evolving too. Boasting a unique global footprint, GTB’s comprehensive suite of innovative banking solutions help our business clients generate operational efficiencies, streamline and simplify payments, improve working capital performance, and mitigate financial risk. At Scotiabank, we embrace your strengths, ideas, and ambitions. GTB is a fast-growing team with a focus on the Americas, particularly Canada, the U.S., Mexico, and we are seeking top tier talent to complement our organization. Join a purpose-driven winning team, committed to results, in an inclusive and high-performing culture.

Requirements

The incumbent must display initiative, be a highly customer service-oriented team member, flexible and committed to success of the team.
Expert negotiating, influencing and communication skills (verbal and written).
Tact in dealing with clients and internal business partners, recognition of business and political impact of communications and actions.
Ability to remain calm and effective during high pressure situations; receive escalations from client and GTB Sales and escalate to internal/external problem management stakeholders for resolution, and report status back to client and BNS partners on a timely basis.
Ability to provide analyst expertise to leadership and sound ability to work effectively within, a cross-functional team environment that can include many reporting levels and varying skills/competencies.
For the most part, the incumbent is expected to operate independently. However, they will be required to escalate those matters relating to policy issues, facilitating appropriate transactions outside his/her Authorized Transaction Limits of TFO and transactions involving potential loss/exposure.
Signing limit – as per Trade and Supply Chain Finance Transaction Signing Authority Limits.
Time management and prioritization skills are critical.
Strong attention to detail and accuracy in review and processing of entries.
Liaises with different areas of the Bank, including but not limited to FI, TFRC, TFDS, TFPS, BBO, branches/CMCC and GWO CLS.
Systems used are relating to Trade Finance: including but not limited to T360; GTX; CorrRisk; Intralink.
Thorough and complete knowledge of the Uniform Customs and Practice for Documentary Credits (currently UCP600), ISP98, URDG 758, the Bills of Exchange Act, URC 522, URR 725, ISBP and SWIFT procedures and any other applicable trade finance rules and regulations.
Expert and working knowledge of Bank’s trade business related products, services, processes and pricing.
Excellent knowledge of Bank’s regulations, policies, procedures, operations and functions.
Thorough knowledge of the Bank’s transactional services.
Working knowledge of the Bank’s Anti Money Laundering and compliance policies and procedures.
Working knowledge of techniques to generate quality referrals.
Thorough knowledge of the Bank’s automated systems.
Proficiency in computer applications related to Trade Finance and Microsoft Office.
3 to 6 years of trade finance experience.

Nice To Haves

Certified Documentary Credit Specialist.

Responsibilities

Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Ensuring all aspects of the customers’ trade needs are addressed in a manner consistent with Scotia Service Standards and Complaint Resolution Standards and in doing so positively differentiate the level of service/support provided to the customer from that provided by other financial institutions as it related to trade services.
Verifying that all client documentation is complete, compliant and appropriately authorized.
Ensuring all TFAP and Appendices D forms are accurately prepared/processed.
Responding promptly and effectively to request, concerns and complaints from customers, GTB Sales team and other departments in order to propose workable solutions.
Developing and maintaining an excellent specialist knowledge and strong understanding of GTB Trade Finance products, services and pricing.
Providing a high degree of service and support combined with innovative approaches to resolving Customer/Sales Manager issues while maintaining an overall low risk for the Centre.
Setting up Customer profiles and maintaining appropriate customer files/documents and customer records.
Actively identifying and participating with the development of recommendations/ideas for process and systems improvement.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook, the Guidelines for Business Conduct, AML/ATF and Sanctions Pre-Transaction Due Diligence and Enhanced Due Diligence Procedures and Operational Risk Review Procedures and Service Level Agreements.
Handle all processing, verifying and /or releasing activities related to documentary Letter of Credit, Standby Letter of Credit/Letter of Guarantee and/or documentary collection in the Trade 360 and/or other Trade Finance systems as per authorized limits.
Act as back-up to other TFO Analysts as required and release transactions as per delegated limits.
Actively sharing knowledge and experience to enhance the development of all team members.
Provide administrative support as required including but not limited to scanning and indexing documentary import Letter of Credit applications, Documentary Export Letter of Credit, Documentary Import/Export Letter of Credit documents, Standby Letter of Credit/Letter of Guarantee documents, and/or Documentary Collections documents.