Manager, Commodities Transaction Management Unit

Job description / Role

Standard Chartered is a leading international banking group committed to building a successful and sustainable future for our people, our customers and the communities we serve. With 1,700 branches and offices in 68 markets in Asia, Africa and the Middle East, we offer exciting and challenging international career opportunities to over 89,000 employees.

Reporting directly to the Sr. Manager of Commodities Transaction Management Unit. Main responsibilities are the daily administration and independent control of required collateral that arises out of transactional financing for commodity customers. The incumbent handles the flow of negotiable instruments, title documents or securities and coordinates with Customers, Relationship Managers, Credit Officers and other Operating Units to ensure sufficient collateral coverage before usage of facilities.

* Be familiar with RMF process and able to perceive the risks associated with process /transaction and address those promptly.
* To ensure that Insurance is adequate and fulfil the requirements of the Bank.
* Conduct Mark to Market as directed in credit terms.
* Reconcile physical stock record received from CMC's with banks' record.
* Responsibility for overseeing the monitoring and reconciliation of the daily position of the required collateral, including daily updates of mark to market valuations of commodity prices. Overseeing the maintenance and the tracking of the value of the underlying goods financed and making margin call to customers as required.

All requests for transactional utilization such as loans, LCs, SBLCs, guarantees etc as well as all payments from current accounts must be pre-approved and checked against credit approvals and deviations/excesses/shortfalls highlighted as applicable for further approval.

On an ongoing basis, this person also ensures the physical safekeeping of all title documents and security and administers the safe custody of these documents.

Within the scope of this position, this person also oversees the handling of regular activities of secured financing under Borrowing Base requirements. Each Borrowing Base must be detailed and monitored to ensure specific requirements are met by the Customer pursuant to the Credit Agreement (wherever applicable).

Key Responsibilities
* Credit monitoring: responsible for monitoring of the credit portfolio
* Be familiar with RMF process and able to perceive the risks associated with process /transaction and address those promptly
* To ensure that Insurance is adequate and fulfil the requirements of the Bank
* Conduct Mark to Market as directed in credit terms
* Reconcile physical stock record received from CMC's with banks' record
* Manage a significant portfolio of facilities protecting the Bank's exposure to risk through the constant monitoring of credit facilities and valuation of collateral
* Jointly responsible for a good relationship with the Bank's customers and intermediaries / counter-parties, maintaining and building client relationships and ensuring good utilization of the facility
* Approval of and ongoing monitoring of transactions to ensure they remain within agreed credit parameters as approved / recommended by RCO/SCO
* Showing credit risks in a timely manner by reacting to facility excesses and collateral shortfalls
* Ensuring that proper notification to (risk) management of deviations and deterioration in the Bank's credit risk position takes place
* Regular liaison with traffic / financial / trading contacts of our clients and intermediaries / counter-parties such as warehouses / surveyors / forwarders / insurance companies etc.
* Providing timely and proper release instructions to warehouses / forwarders and information updates to relevant counter parties such as insurance companies etc.

Other activities:
* To Ensure that all control reports as under (not exhaustive in nature) are checked/initialed and action taken /filed
* Collateral Shortfall Report
* CMR Report
* Check and sign the LTP reconciliation report of all countries which we supports
* Price expiry and Price adjustment.
* Diary Function - monitor and check daily for completion
* WHR - Customer wise physical check - monthly
* To ensure encryption of mails sent outside - physical check in CMT mail box under misc file, weekly stock report, RO
* Monitor LODR in TD and Cocoa
* Insurance expiry report to be checked

Key Relationships:
* Global Head, Commodities Transaction Management Unit
* Segment Head - Commodities / Business
* Service Delivery Units
* Other Relationship Managers & ARMs
* CRC / CDU / LDU
* SCO
* GSAM
* Audit / Risk Management teams
* Legal & Compliance
* Product Partners

Key Measurables:
* Check that transactions fall within agreed credit parameters as approved/recommended by Credit
* Show credit risks in a timely manner by reacting to facility excesses and collateral shortfalls
* Ensure that proper notification to local/Head Office (SCO/RCO) risk management of deviations and deterioration if the Bank's credit risk position takes place
* Responsible for providing periodical information (daily, weekly, monthly as applicable) by reporting on the following issues:
* Client liability & Collateral position reports to Relationship Management, local and Head office Risk Management (SCO/RCO) as well as to clients
* Excess/shortfalls/irregularities/deviations from approved facility parameters
* Non-receipt of insurance policies/premium receipts as well as any other document or information required under the terms of the Credit Application (BCA)
* Report any exception to Unit Head on deviations to other activities under key responsibilities
* Assist Risk and Control Manager for Key Processing Indicator ("KPI") / Key Control Indicators (KCI) and Control Sample Testing (CST) and Risk Management Framework (RMF) at the CTMU level

Requirements

* Preferred experience in Trade Finance
* Knowledge and well versed with CTMU process/procedures
* Preferred Degree in Business administration or Finance

About the Company

Standard Chartered Bank started in 1958 in UAE with its first branch in Sharjah. The Group’s business gradually increased in Dubai with the opening of several branches and today, Dubai is the administrative hub of the Middle East and South Asia Region. In its 43rd year, the Bank enjoys the position of having the most extensive branch network among foreign international banks in UAE with 10 branches emirate-wide.

Standard Chartered is an international bank, focused on the established and emerging markets of Asia, Africa, the Middle East and Latin America with an extensive global network of more than 600 offices in over 50 countries. The three principal business groups are Global Markets, Personal Banking and Corporate and Institutional Banking.

In UAE, we are one of the leading banks, offering an extensive range of products and services for personal customers, local companies, multinational corporate and financial institutions.