Settlement Officer

Job description / Role

– For supporting Treasury and CBFI?
• Prepare SWIFT’s outgoing messages, confirmations, payments, etc., in respect of all deals/trades not generated by OPICS/GMPS.
• Respond professionally to existing and potential customers’ queries on products and services provided by the bank and, in case of doubt, always refer the superiors.
• Keep proper records of all transactions to ensure all live and matured transactions are kept according to our record retention policy.
• Record and update Inward & Outward remittance both banks and non-banks in the Fund Transfer report.
• Open accounts and add counterparties in relevant systems with the support of proper documentation. (Account opening and amendments).
• Review the process of client account opening, close and freeze etc.
• Review and prepare report for remittance inward & outward from compliance control perspective.
• Monitor and prepare report for the dormant account.

– For supporting Treasury:
• Check and verify all transactions entered in the OPICS and NGS systems via Kondor+ or POMS by the dealers with proper authorization and approval.
• Check and review the availability of funds in the projected cashflow report to ensure funds are available for settlement of transactions.
• Check all outgoing messages being correctly generated and sent with ACK. Check and match incoming counterparties confirmations from SWIFT to ours and other sources to ensure correctness.
• Keep outstanding (live) and matured deals and reports in their respective designated files.
• Review daily Nostro Accounts EOD (end of day) projected Balances to cross check with dealers to ensure correctness and that sufficient funds are kept in our nostro accounts.
• Liaise with HO and establish RMA with other banks in the region at the request of CBFI and Treasury.
• Reconcile Bond transactions in Opics against our custodian account in Clearstream.
• Check the dealer’s blotter at the end of the day to ensure all deals are processed and captured in OPICS and NGS systems.
• Check and Verify broker’s invoices with dealers before making payment to ensure all trades and brokerage charges are correct.

– For supporting CBFI:
• Prepare and verify non-treasury-related payments to ensure the payments are approved and processed in accordance with procedure.
• Check and process all loans & other trade finance products and services efficiently to the satisfaction of the customers.
• Monitor Inactive & Dormant Accounts as per the dormant account handling procedure set out in operations manual, and report any activities to HOD.
• Prepare and input the Loan Commitment, Contract, Drawdown & Fees in NGS & GMPS for all types of Loan.
• Check, process and verify to ensure proper settlement of all transactions according to the procedures set out in the operational manual.
– Review all SWIFT MT950 statements daily to ensure that all expected receipts and payments are correctly posted in the statements and any returned funds, unadvised credits and unauthorised debits are followed up immediately with the respective departments.
– Update management of exception of discrepancies of transactions, if any, and to ensure they are followed up and resolved in a timely manner.
– Print, thoroughly check the assigned reports to ensure that the assigned reports are correct and highlight irregularities, if any, to the manager, settlement / import & export bills promptly for further action.
– Provide weekly transaction report to Compliance Department to monitor the Compliance of Client’s business activities.
– Fulfill the backup role and responsibility and meet the specific requirement.
– Perform any other duties that may be assigned by the Head of Operations and Senior Management from time to time.