Trade Services Manager

Position Overview

We are seeking an experienced Trade Services Manager to oversee and authorize trade finance transactions while ensuring full compliance with regulatory standards and internal policies at The Bank of East Asia (BEA) in Singapore. This role involves end-to-end verification and authorization of trade-related documents, managing risk assessments, and supporting operational improvements.

Key Responsibilities

• Conduct thorough independent verification and authorization of trade finance transactions and related documentation, guaranteeing accuracy, completeness, and conformance with credit approvals, internal policies, and international trade regulations.
• Perform detailed end-to-end examination and approval of trade transactions according to the four-eye principle, handling a variety of products such as Letters of Credit, Guarantees, Collections, and Trade Finance loans.
• Uphold strict observance of international trade rules, including UCP600, ISBP, URC522, ISP98, and URDG758 standards.
• Ensure adherence to anti-money laundering (AML) policies, sanctions screening, and controls related to Trade-Based Money Laundering (TBML).
• Carry out risk-based assessments of trade documents to identify operational, documentary, and compliance risks.
• Manage timely transaction processing aligned with service level expectations and operational deadlines, resolving discrepancies by coordinating with internal and external parties.
• Monitor outstanding transactions, exceptions, and discrepancies to ensure prompt resolution and escalate issues according to operational guidelines.
• Assist senior management in reviewing and updating operational procedures and implementing policy changes within the team.
• Maintain awareness of the bank’s compliance responsibilities concerning AML, anti-terrorism financing, taxation crime detection, and terrorism related monitoring.
• Guide and support junior team members on trade document requirements and procedures, facilitating knowledge transfer and onboarding.
• Contribute to maintaining consistency in applying trade rules and operational standards collaboratively with team members.
• Participate in system testing, including user acceptance testing (UAT), by preparing test scripts and ensuring timely completion.
• Identify, report, and follow up on regulatory breaches, compliance risks, and audit findings promptly.
• Lead targeted projects aimed at enhancing departmental performance and profitability, and provide coverage for Trade Finance Managers and Officers as required.

Candidate Profile and Requirements

• Possess a degree in Banking and Finance, Business Administration, or equivalent.
• At least 5 years of practical experience in trade finance document checking within banking operations, preferably within Trade Finance Operations.
• In-depth knowledge of trade finance products such as Letters of Credit, Guarantees, Collections, and Trade Loans.
• Experience functioning in checker or authorizer roles within a controlled operational environment.
• Solid understanding of international trade settlements and related compliance standards.
• Comprehensive expertise in ICC uniform rules and standard trade practices.
• Strong skills in identifying discrepancies during trade document checks.
• Ability to work autonomously while contributing effectively as a collaborative team member.