Company:
Royal Bank of Canada
Location: Old Toronto
Closing Date: 04-08-2024
Hours: Full Time
Type: Permanent
Job Requirements / Description
Job Summary To support Global Loan Administration - Trade with the end to end processing of Guarantees/Standby Letters of Credit (SBLC) under bulk, syndicated and bilateral credit facilities in Trade 360 from draft to issuance to payment or cancellation.
· The competence with which the incumbent’s duties are carried out has a major impact on the credibility of the department, both within and outside the Bank. Failure to perform in an efficient and competent manner can not only jeopardize the Bank's reputation, but can also result in significant material losses.
· The incumbent must display a clear understanding of the technical and administrative aspects of all guarantee and SBLC applications and amendments in order to resolve the various requests for interpretation and action that arise daily.
· Responsible for escalations of questions related to complex transactions and be client facing for inquiry investigation and resolution.
Job Description
Process and Reconciliation:
Counsel and advise clients and business independently on transactional issues, risk mitigation, document preparation and international rules and regulations
Provide structuring and co-ordination including liaising with 3rd parties as required
Provide draft language for Guarantees/SBLC's in a timeline acceptable to the requester. Responsible for the text of all instruments issued and thereto amended and their issuance in accordance with the applicable rules and standard banking practices Ensure that all transactions processed comply with KYC and AML guidelines, Anti-boycott compliance, OFAC, FinCEN, USA Patriot Act and other sanctions imposed from time to time by various government/regulatory agencies.
Provide post transactional service to clients
Exercise due diligence by following operational risk policies, procedures, standards and guidelines Set up customer, fee rate and guarantee/SBLC records in Trade 360 to ensure that the input is error free.
OMS comments must be added/updated daily without prompting
Ensure Chase, Nostro, Internal Accounts and Adjustment Suspense is actioned daily and there are no aged items without documented explanation
Action eTRs daily, ensuring accurate credit records All excess items are addressed by 11:00 a.m. daily Ensure all fee income on guarantees/SBLC's is received and correctly accounted and reported
Act as a backup to other Trade Specialist on the team
Acts as verification officer for all two touch transactions in Trade 360
Skills and experience required:
Good knowledge of all aspects of guarantees/SBLC's and ability to interpret and apply various related rules, regulations and applicable law.
Fully conversant with all ICC rules, regulations and circulars relative to guarantees
Ability to prioritize, work under pressure and meet time sensitive deadlines
Ability to identify and eliminate/reduce risk associated with guarantees/SBLC's
Strong time management and organizational skills Excellent written and oral communication skills Ability to work effectively both independently and within a team environment
Excellent attention to detail, judgement, flexibility and dependability.
Undergraduate Degree
Job Skills Active Learning, Customer Service, Group Problem Solving, Taking Initiative, Teamwork, Time Management
Additional Job Details
Address: RBC CENTRE, 155 WELLINGTON ST W:TORONTO
City: TORONTO
Country: Canada
Work hours/week: 37.5
Employment Type: Full time
Platform: Capital Markets
Job Type: Regular
Pay Type: Salaried
Posted Date: 2024-06-17
Application Deadline: 2024-07-01
Inclusion and Equal Opportunity Employment
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
Join our Talent Community
Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at .
#J-18808-Ljbffr· The competence with which the incumbent’s duties are carried out has a major impact on the credibility of the department, both within and outside the Bank. Failure to perform in an efficient and competent manner can not only jeopardize the Bank's reputation, but can also result in significant material losses.
· The incumbent must display a clear understanding of the technical and administrative aspects of all guarantee and SBLC applications and amendments in order to resolve the various requests for interpretation and action that arise daily.
· Responsible for escalations of questions related to complex transactions and be client facing for inquiry investigation and resolution.
Job Description
Process and Reconciliation:
Counsel and advise clients and business independently on transactional issues, risk mitigation, document preparation and international rules and regulations
Provide structuring and co-ordination including liaising with 3rd parties as required
Provide draft language for Guarantees/SBLC's in a timeline acceptable to the requester. Responsible for the text of all instruments issued and thereto amended and their issuance in accordance with the applicable rules and standard banking practices Ensure that all transactions processed comply with KYC and AML guidelines, Anti-boycott compliance, OFAC, FinCEN, USA Patriot Act and other sanctions imposed from time to time by various government/regulatory agencies.
Provide post transactional service to clients
Exercise due diligence by following operational risk policies, procedures, standards and guidelines Set up customer, fee rate and guarantee/SBLC records in Trade 360 to ensure that the input is error free.
OMS comments must be added/updated daily without prompting
Ensure Chase, Nostro, Internal Accounts and Adjustment Suspense is actioned daily and there are no aged items without documented explanation
Action eTRs daily, ensuring accurate credit records All excess items are addressed by 11:00 a.m. daily Ensure all fee income on guarantees/SBLC's is received and correctly accounted and reported
Act as a backup to other Trade Specialist on the team
Acts as verification officer for all two touch transactions in Trade 360
Skills and experience required:
Good knowledge of all aspects of guarantees/SBLC's and ability to interpret and apply various related rules, regulations and applicable law.
Fully conversant with all ICC rules, regulations and circulars relative to guarantees
Ability to prioritize, work under pressure and meet time sensitive deadlines
Ability to identify and eliminate/reduce risk associated with guarantees/SBLC's
Strong time management and organizational skills Excellent written and oral communication skills Ability to work effectively both independently and within a team environment
Excellent attention to detail, judgement, flexibility and dependability.
Undergraduate Degree
Job Skills Active Learning, Customer Service, Group Problem Solving, Taking Initiative, Teamwork, Time Management
Additional Job Details
Address: RBC CENTRE, 155 WELLINGTON ST W:TORONTO
City: TORONTO
Country: Canada
Work hours/week: 37.5
Employment Type: Full time
Platform: Capital Markets
Job Type: Regular
Pay Type: Salaried
Posted Date: 2024-06-17
Application Deadline: 2024-07-01
Inclusion and Equal Opportunity Employment
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
Join our Talent Community
Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at .
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Royal Bank of Canada
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