Royal Bank of Canada
Job title:
Trade Specialist, Global Loan Administration
Company
Royal Bank of Canada
Job 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 DescriptionProcess and Reconciliation:Counsel and advise clients and business independently on transactional issues, risk mitigation, document preparation and international rules and regulationsProvide structuring and co-ordination including liaising with 3rd parties as requiredProvide 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 clientsExercise 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 promptingEnsure Chase, Nostro, Internal Accounts and Adjustment Suspense is actioned daily and there are no aged items without documented explanationAction 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 reportedAct as a backup to other Trade Specialist on the teamActs as verification officer for all two touch transactions in Trade 360Skills 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 guaranteesAbility to prioritize, work under pressure and meet time sensitive deadlinesAbility to identify and eliminate/reduce risk associated with guarantees/SBLC’sStrong time management and organizational skills Excellent written and oral communication skills Ability to work effectively both independently and within a team environmentExcellent attention to detail, judgement, flexibility and dependability.Undergraduate DegreeJob Skills Active Learning, Customer Service, Group Problem Solving, Taking Initiative, Teamwork, Time ManagementAdditional Job DetailsAddress: RBC CENTRE, 155 WELLINGTON ST W:TORONTOCity: TORONTOCountry: CanadaWork hours/week: 37.5Employment Type: Full timePlatform: Capital MarketsJob Type: RegularPay Type: SalariedPosted Date: 2024-06-17Application Deadline: 2024-07-01Inclusion and Equal Opportunity EmploymentAt 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 CommunityStay 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 .
Expected salary
Location
Toronto, ON
Job date
Tue, 18 Jun 2024 23:37:59 GMT
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