Sterling Bank Plc Recruitment for Team Lead, Trade Compliance
Sterling Bank Plc “Your one-customer bank” is a full service national commercial bank in Nigeria. In over 50 years of operations, Sterling Bank (formerly NAL Bank) has evolved from the nation’s pre-eminent investment banking institution to a fully-fledged commercial bank; and completed a merger with 4 other banks – Indo-Nigeria Merchant Bank, Magnum Trust Bank, NBM Bank and Trust Bank of Africa – as part of the 2006 consolidation of the Nigerian banking industry.
We are recruiting to fill the position below:
Job Title: Team Lead, Trade Compliance
Job Type: full-time
Specialization(s): Banking/Finance/Insurance,Quality Assurance/Control
- To ensure compliance with Credit, Trade and Treasury policy guide, procedures and regulations relating to their activities.
- As well as harmonise the risk assurance activities of Credit, Trade and Treasury Services thereby ensuring efficient operations, effective and timely reporting
- Review the compliance to Credit, Trade and Treasury business extant policies and regulations
- Maintain correspondent banking relationship with offshore correspondent banks pertaining to AML/CFT
- Render compliance advisory to both internal and external customers and staff when necessary
- Facilitate inhouse compliance capacity building via sensitization through effective platforms to Credit, Trade and Treasury staff
- Render weekly and monthly report of activities in Credit, Trade and Treasury Compliance
- Call over postings on transactions processed in Trade Services; Call over of bulk upload transactions
- Carry out Credit, Trade and Treasury process and product review on sampled transactions
- Monitors FX Utilization and its report rendition to the CBN on a weekly basis
- Conduct Enhanced Due Diligence (EDD) on identified high risk customers
- Review of Trade instruments and documentations; Form M & PAAR processing, Bill for Collection transaction review (Invisible Transaction Documentation), Certification of Capital Importation, Letters of Credit establishment, amendment and negotiation review; Foreign Funds Transfer transaction, Interbank Placement and Takings review; Export proceeds domiciliary account review, Swap, Repo, Spot, Forward, Future, derivatives (NDF) and other foreign exchange instrument review
- Review unutilized funds, quarterly distribution of interest
- Review and Submit endorsement of shipping document
- Minimum of 5-year experience, preferably in commercial banking
Deadline: 31st August, 2020.