Job description
Commercial Trade and Letters of Credit - Trade Service Operations Manager
This position will be in El Segundo, California and will be a hybrid position - minimum 3 days a week on site
The Trade Service Operations Manager is responsible for managing and coordinating all day-to-day activities supporting the Commercial Letters of Credit, Documentary/Direct Send Collections, Banker's Acceptance, Trade Transfer and Confirmations, within a time sensitive environment, in association with the commercial product offerings within all designated commercial and treasury management business lines. This service is critical to ensuring legal and regulatory compliance of issued letters of credit and includes fast paced and financial processing obligations on behalf of our customers along with the following activities performed within the team. Additionally, the Trade Service Operations Manager is responsible for managing operations risk and trade compliance activities servicing this portfolio on a national and global platform.
Position Responsibilities:
Operational Leadership: Drive Results - Service Effectiveness
- Manage consistent production delivery of service and quality standards using data and key performance metrics for all activities supporting the Commercial (Import and Export) letters of credit, Banker's Acceptances, Documentary and Direct Send Collections, ensuring all are conducted in compliance with Bank Policy, Uniform Customs and Practice, International Chamber of Commerce Rules, as well as all State and Federal regulations such as, OFAC, Anti-Boycott, EAR, Clean Diamond Act.
- Managing the required maintenance and oversight of document handling, safekeeping and financial processing of payments and fees and reconcilement monitoring of general ledger accounting.
- Re-assess and revise service quality, delivery and efficiency standards as driven by changing client, regulatory and business requirements and develop appropriate action plans where performance fails to meet established performance standards.
- Maintain capacity and capabilities models to incorporate accurate throughput rates and volumes projections, thus ensuring proper forecasting of resource utilization and capacity requirements.
- Serve as key escalation point for service disruption; access, recommend and create interim solutions to mitigate impact and risk and identify process improvement needs and opportunities.
- Build and maintain strong working relationships with key clients, influencing and advancing ITS's key strategic initiatives and act as back up to Director for monetary transactions review and releasing based on monetary threshold needs.
Risk Management
- Ensure effectiveness and compliance of legal documentation drafting, coordination, issuance, monitoring, maintenance, and safekeeping of all activities supporting the Commercial Letter of Credit, Documentary and Direct Send Collection services.
- Ensure operation controls are in place for the team to successfully pass all risk exams, audits, and business continuity tests. Create remediation or work plans to address issues timely.
- Oversee audits/exams by providing needed resources and requested information per agreed upon timeframes. Ensure all requested responses for exceptions or issues are completed within the requested time frame.
- Manage the effective documentation and revision of department procedures and process maps.
- Plan, implement and test ITS's Business Continuity/Disaster Recovery plan, ensuring product availability.
Financial Performance
- Manage areas of responsibilities within parameters of financial plan by controlling expenses in accordance with annual budget, including minimizing or eliminating losses.
- Proactively manage staffing levels in concert with volume trends, continued refinement / development of capacity and capability models.
- Manage expenses of facilities for California Market location, including monitoring/maintaining access.
Human Resource Management
- Ensure HR policies and procedures are Fairly and consistently implemented for all team members.
- Provide consistent messaging (both verbal and written) to employees regarding their performance throughout the year, in the annual PMP process and in their compensation treatment.
- Hold career and individual development plan discussions with all direct reports on an annual basis; provide candid and constructive feedback.
- Coach and develop direct reports to build effective teams and develop team members.
Project Participation
- Participate or Lead projects / initiatives to ensure they are completed on time, within budget and achieve projected financial or other benefit as defined in the project charters.
- Manage the development and documentation of business requirements and customizations for new and enhanced system change; and of interface requirements from/to bank applications/systems.
Position Qualifications:
- Bachelor's Degree in Business Administration, or 5 Years' Experience and knowledge in processing and regulatory required guidelines for trade financing or International Finance Operations
- 3 years of knowledge of the guidelines or governing principles of International Chamber of Commerce, Uniform Customs and Practices and International Standby Practices
- 3 years of experience with fee or loan accounting and balancing
- 3 years Customer service and resolution handling 3 years Knowledge of AML/Fraud or Operations Risk
- 2 years of Commercial Lending knowledge including lending documentation
7:30am - 4:30pm Monday - Friday
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