Compliance Trade Finance Analyst
MUFG (Mitsubishi UFJ Financial Group) is one of the world's leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with around 2,300 offices in over 50 countries including the Americas, Europe, the Middle East and Africa, Asia and Oceania, and East Asia. The group has over 150,000 employees, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.
As one of the top financial groups globally with a vison to be the world's most trusted, we want to attract, nurture and retain the most talented individuals in the market. The size and range of MUFG's global business creates opportunities for our employees to stretch themselves and reap the rewards, whilst our common values, to behave with integrity and responsibility, and to build a culture which is fair, transparent, and honest, underpin everything that we do. We aim to be the financial partner of choice for our clients, whatever their requirements, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.
MUFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. The group's operating companies include, but are not limited to, MUFG Bank, Mitsubishi UFJ Trust and Banking (Japan's leading trust bank), Mitsubishi UFJ Securities Holdings (one of Japan's largest securities firms), Mitsubishi UFJ Morgan Stanley Securities and MUFG Securities Americas.
Please visit our website for more information - www.mufgemea.com.
Transaction Processing sits within the Operations division and provides efficient and accurate processing, ranging from single-touch, single entry to multi-touch and complex transaction processing.
‘'Trade Finance Services'' sits within Transaction Processing, providing processing service and support to the Commodity and Structured Trade Finance and Transaction Banking Divisions.
The Analyst is responsible for the accurate, error free and timely processing of letters of credit, collections (clean and documentary) and other such trade finance products as required, by application of knowledge of relevant governing rules such as UCP and URC, also adhering to HOP, procedures and controls, thereby delivering high level service to clients.
Main Purpose of the Role :
Responsible for processing Trade Finance transactions in accordance with the departmental procedures and controls, Head Office Rules, regulations, customer contracts/agreements, Industry Standards ( ISBP745, ISP98, URR 725, URC 522, UCP600 etc.) and Compliance policy.
Provide general support to facilitate the implementation of projects as and when necessary.
Process and support various compliance controls such as screening of entities in the Bank's in house system and reviewing transactions for ‘'red flags'', creating case files and audit trails of the investigations.
- Processing of all life cycle events of letters of credit (import and export - issue, advise amend, acceptance, discount, payment, checking documents)
- Processing of all life cycle events of collections (import/export, clean/documentary, remit, present, acceptance, payment).
- Adhere to governing rules, UCP, URC, HOP, procedures and all relevant controls.
- Develop and improve effective working relationships with all trade stakeholders.
- To support training requirements of team members.
- Ensure processing is effected in a team spirit and avoid silo based attitudes where people should think beyond their immediate work space and consider the wider team's pressure points thereby delivering maximum efficiency.
- Retain and promote a customer first attitude. Communicate with clients in a professional and helpful way, embracing the Japanese culture within which you work and the corporate values that underpin our behaviours and attitude to the job at hand and the business we support. Develop and improve client relationships making MUFG the preferred bank to deal with and maximise our wallet share of business. Be flexible and cohesive with the rest of the team to make solutions work and deliver high level service to our clients.
- Ensure compliance with all Bank and Regulatory requirements in order to mitigate financial and compliance risks.
- Complete compliance controls, screening, investigations and reporting.
- See opportunities to assist in a selfless approach. Be upbeat, approachable and be part of the drive to a motivated team
- Deliver effective solutions and make suggestions for improvements.
Skills and Experience:
Functional / Technical Competencies:
- Proficient understanding of letters of credit and collections.
- Good work flow and time keeping management.
- Knowledge of compliance obligations relating to trade finance products handled by banks.
- Knowledge of UCP 600, URC 522, ISP98, URR725, ISBP 745, ICC Incoterms 2010
- Proficient in MS Word, Excel, Microsoft Outlook, SWIFT
- Education / Qualifications: A level or equivalent
- Industry qualifications: CDCS is preferred
- Work Experience: minimum 3 years
- Team spirit, works well with others with a flexible attitude to supporting the team
- Strong planning and organisation skills
- Excellent communication skills
- Results driven, with a strong sense of accountability
- A proactive, motivated approach
- The ability to operate with urgency and prioritise work accordingly
- Strong decision making skills, the ability to demonstrate sound judgement
- A structured and logical approach to work
- Strong problem solving skills
- A creative and innovative approach to work
- Excellent interpersonal skills
- The ability to manage large workloads and tight deadlines
- Excellent attention to detail and accuracy
- A calm approach, with the ability to perform well in a pressurised environment
- Strong numerical skills