Market Job Description
Department Overview
Commercial Banking serves diverse market and customer segments, including middle market, large corporates, financial institutions and municipal, state and local governments. This includes both relationship as well as product responsibilities in serving businesses with annual sales generally in excess of $5 million.
About the Role
SWIFT Control Room function which covers below listed tasks:
1. SWIFT Application Monitoring e.g. SWIFT Alliance & Smart Router
2. Incoming SWIFT Message Distribution
3. Outgoing SWIFT Message Repairing
4. Mainframe EOD and BOD Swift Processing accounts
Responsibilities
- Strictly follow and understand U.S. OFAC Regulations and our internal OFAC Sanction System.
- The team member will be responsible for research, investigation and analyzing routine payment inquiries received via different message types from Remitting Banks, Beneficiary banks & Intermediary banks.
- Investigation types ranges from simple to moderately complex inquiries including repairing message types and transferring funds from one account to another.
- Payment inquiries should be received in an authenticated message i.e. SWIFT, Tested Telex or Fed Serv 1090.
- Investigations of the payment cases could include identification of types of payment errors, duplicate payments, incorrect recipient/beneficiary, incorrect intermediary bank, or incorrect SWIFT message type used, Sanction, etc…;
- Correction and creation of different SWIFT/CHIPS/FedWire payment message types used by the sender; duplicate processing, erroneous or cancelled payments; will all form part of the day to day activities of the Team member.
- When more complex problems/inquiries are received, this will be referred to the more senior Team member as per the guidelines and escalation procedures of the business.
- To extend his/her shift hours in case of requirement.
- To work as a team player.
- Pool/Queue Assignment:
- Cross skilled to more than 1 pool
Example: - High Volume Low Risk (Unable to Apply Pool),
- Debit Authorization Pool
- Amendment
- Cancellation (MCAN)
- Cover Payments
- Return of Funds
- Control Function
- Urgent Mailbox
Essential Qualifications
- Bachelor's degree holder, preferable business course
- 0 to 2 years’ experience in banking operations (Commercial Banking or CIB)
- Experience in banking operations or any of the ff: payments/settlements/fund transfers, Trade & Securities, Custody related to banking products
- Knowledge on Message types SWIFT, FED WIRE, CHIPS, Telex and IntelliTRACS system an advantage
- Good in both verbal and written communication skills
- Good investigation and problem solving skills
- Organizational and detail oriented skills
- Sound risk management mindset and good understanding of compliance - AML/OFAC
- Ability to handle high volume and short SLA or turnaround time
- Ability to manage and prioritize work to meet deadlines
- Able to perform shift work and report on public holidays