Senior Manager, Trade Payments

2 weeks ago


Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time
IDB3165 - Senior Manager, Trade Payments

Business Unit: ITFC

Division: Not Applicable

Department: Not Applicable

JOB PURPOSE:

This role is responsible for supervising and providing clearance for all SWIFT or similar platforms' message transmission initiated in the Operations Department as part of the segregation of duties in relation to the independence of the SWIFT/payments function in ITFC. The role shall also be responsible for the enhancement, automation, and maintenance of sound corporate governance in coordination with the Compliance function regarding all Trade Finance-related payments/settlements as may be designated.

KEY RESPONSIBILITIES:
  • Process all payments/settlements and other types of messages assigned by the department management in SWIFT Alliance or similar platforms;
  • Ensure all messages processed through SWIFT Alliance or similar platforms are 'ACK' not "NACK", matching ACK copies with the sources and returning to the concerned business units;
  • Dispatch of incoming messages to the concerned Units/Officers;
  • Handle the establishment of RMA, including initiation from the business units and/or banks;
  • Handle 'callbacks' with correspondent and other banks in instances when the SWIFT system or similar platforms are down to ensure minimal business disruption;
  • Follow up on outstanding/pending transactions on compliance requirements from banks related to Trade transactions;
  • Serve as the focal point for ITFC with IsDB on all matters relating to SWIFT processing in coordination with ITFC DOE;
  • Work with ITFC Finance Department reporting teams to continually improve reconciliation processes;
  • Continuously follow up on international payments systems development needs and remain updated on regional and global payments market developments and regulatory trends;
  • Identify and report risk factors aimed at continuous improvements and controls in the SWIFT operating environment;
  • Update Standard Operating Procedures (SoPs) relating to SWIFT or similar platforms on a regular basis as may be dictated by business practices and systems/processes improvements;
  • Conduct regular and ad hoc training on SWIFT or similar platforms for both existing and new staff in the Operations Department and any other Departments as deemed necessary;
  • Participate in any projects for the purposes of systems enhancements relating to aspects such as integrating SWIFT or similar platforms with other ITFC systems;
  • Provide regular update of the list of Correspondent banks having RMA with ITFC;
  • Handle other duties as assigned by the Division Manager, General Management, and ITFC senior management.
Qualifications & Other Certifications:
  • Master's Degree in Banking, Business, Commerce, or Finance or any other related professional certificates
Language Skills:
  • English is compulsory
  • Arabic or French is compulsory
Years of Experience:
  • Minimum 6 years of experience in SWIFT operations in a banking environment
  • Minimum 6 years of experience in Documentary Credits
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