Assistant Manager, Trade Finance Operations - Global Transactions Banking Operations

Scotiabank•Toronto, ON

2d•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., and 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. This role contributes to the overall success of the Trade Finance Operations (TFO) in Canada, ensuring specific individual goals, plans, and initiatives are executed/delivered in support of the team’s business strategies and objectives. It also ensures all activities conducted are in compliance with governing regulations, internal policies, and procedures.

Requirements

The incumbent must display initiative, be a highly customer service-oriented team member, flexible, and committed to the success of the team.
Excellent customer relationship management and problem resolution skills.
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 clients and GBP Sales and escalate to internal/external problem management stakeholders for resolution, and report status back to clients 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 matters relating to policy issues, facilitating appropriate transactions outside their Authorized Transaction Limits of TFO, and transactions involving potential loss/exposure.
Signing limit – as per Trade and Supply Chain Finance Transaction Signing Authority Limits.
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; SAP Business Objects.
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 the Bank’s trade business related products, services, processes, and pricing.
Excellent knowledge of the 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.
5 to 10 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.
Ensures all aspects of the customers’ trade needs are addressed in a manner consistent with Scotia Service Standards and Complaint Resolution Standards, positively differentiating the level of service/support provided to the customer from that provided by other financial institutions as it relates to trade services.
Verifies that all client documentation is complete, compliant, and appropriately authorized.
Supports the TFO Analyst in resolving escalated client and/or transaction issues.
Responds promptly and effectively to requests, concerns, and complaints from customers, the GBP Sales team, and other departments to propose workable solutions.
Negotiates with customers and/or GBP Sales the terms of the proposed trade instruments and makes final decisions or, where escalation is required, recommends solutions to the TFO Manager.
Develops and maintains excellent specialist knowledge and a strong understanding of GBP Trade Finance products, services, and pricing.
Provides a high degree of service and support combined with innovative approaches to resolving Customer/Sales Officer issues while maintaining an overall low risk for the Centre.
Participates in client meetings when appropriate to provide expertise and recommendations on electronic product features, discussing trade instrument structuring options, Service Level Agreements, etc.
Sets up Customer profiles and maintains appropriate customer files/documents and customer records.
Understands 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 their respective areas, ensuring the adequacy, adherence to, and effectiveness of day-to-day business controls to meet obligations regarding operational risk, regulatory compliance risk, AML/ATF risk, and conduct risk, including 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.
Supports the TFO Manager with day-to-day Centre Operations, operational controls, risk management, and compliance, including preparing regular monthly and ad-hoc reporting, and acts as back-up for the TFO Manager and other TFO Assistant Managers as required.
Assists the TFO Manager in building a high-performance environment and implementing a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment, communicating vision/values/business strategy, and managing succession and development planning for the team.
Verifies and/or releases activities related to Documentary L/C, Standby Letter of Credit/Letter of Guarantee, and/or documentary collection in Trade 360 as per authorized limits.