VP, Head of Trade Product/Technical
- Manama, Capital Governorate, Bahrain
- Permanent, Full time
- Arab Banking Corporation
- 14 Nov 18
To work closely with internal partners including Group Transaction Banking, Group Operations, Trade Sales, Trade Product managers and Trade Operations teams to promote the Bank’s trade finance services and resolve road blocks that hinder closure of deals with thorough understanding of trade policies and compliance guidelines.
Hold the pen on the Financials of the trade business (TOI/RWA/ Direct & Indirect Expenses/Productivity) and hold direct responsibility on the new innovations and capabilities of the business.
To roll out new products like Supply Chain Finance and Open Account products to improve the Bank's trade finance offerings to its customers thereby increasing market share and revenues for the Bank.
To establish, improve, up-date and optimise the technical skills of staff involved in trade finance activities through the creation of robust policy guidelines for use across the Group.
To set a strong governance standard and undertake periodic reviews on the Operational & Credit Risks of the Trade business – and monitor the efficiency and effectiveness of Trade Services operational processes across the Group to identify opportunities to eliminate risk, waste and improve efficiency and performance.
Dimensions of role (i.e. budgets managed, number of staff):
Financial (Revenue, Expenses, Budgets etc.)
Financials: In this role the candidate will be responsible for managing the financial, budgetary, capabilities build and governance of the Trade Product business. He/She will assist the Head of Group Transaction Banking to meet and achieve the revenue targets and in ensuring that actual costs remain in line with approved budgets.
Other: The scope of expected activities extends to Bank units and representative offices in more than 10 countries. Therefore, the job holder will be required to work across a number of time zones in which the Group operates and be prepared to travel as necessary in the performance of the role.
Non-Financial (size of team, geographical coverage, time horizon of main decisions, etc.)
Staff: Although the job holder will have direct reports, they will also be required to give instructions to, and take them from other members of Group Operations/ Risk / Trade Sales team in the performance of their duties., and opine on Operational, Legal and Audit standards for the Trade business.
Principal Responsibilities, Accountabilities and Deliverables of Role:
Reporting to the Head of Group Transaction Banking - the job holder will be responsible for:
- rolling out new products that will increase the capabilities of the Bank and its Trade offerings to its customers, thereby increasing the Trade finance business volumes and revenues across the Bank
- understanding the Trade Operations and systems and will need to carry full faith of the Trade operations team ensuring proper delivery of Bank capabilities to its customers.
- driving Trade policy and product improvements that ultimately enable Trade Sales and Support teams to advise and promote trade finance products to clients, thereby increasing trade finance business volumes across the Bank.
- Providing a strong reporting standard that will enable the Coverage and Sales unit to move the business forward.
- Providing technical support to all Bank units on matters relating to Trade Finance products.
- Providing assurance over the technical adequacy of day to day processing arrangements within Bank units, ensuring that all activities are being performed in a manner that is consistent with ICC Standards and Group Policy requirements.
- Recognize and determine trends in trade related issues investigating where appropriate and implementing changes or coordinating support from other parties to resolve matters and minimize the risk of re-occurrences.
- Ensuring that the Group’s Trade Services teams are operating in accordance with recognized best practice and that operational risks are being managed effectively.
- Maintain up-to-date awareness of market conditions and developments to ensure that best practice is adopted by the Bank where required and recommend changes in product strategy where appropriate.
- Develop and deploy trade related products, policies, guidelines and practices to support the strategic objectives of the Group.
- Provide technical support to Trade Sales teams, other Front Office colleagues and their clients in relation to the structuring of trade transactions in order to help the Bank win business.
- Ensure effective communication and dissemination of appropriate information to all staff and stakeholders.
- Implementing changes to Bank Trade Policies in order to manage risk, improve customer service quality and process efficiency.
- Undertaking transactional level reviews across Bank Trade Services locations to ensure that operational risks are being adequately managed and to identify areas in need of improvement / policy guidance.
- Providing technical structuring advice and recommendations to ensure trade business is managed within the Group’s risk appetite
- Working with operational managers to embed changes within the Trade Services teams.
- Training staff to understand risks associated with trade finance transactions and to demonstrate how these risks can be mitigated.
- Managing relationships with key stakeholders in Corporate Banking & Financial Institutions, Risk & Compliance across the Bank.
- Help the Bank to win more trade business by building direct relationships with clients to transfer know how of re-structuring and efficient handling of trade products.
- Assessing management information reports, identifying risks and issues and briefing senior managers on major implications of change projects.
- Excellent understanding of Trade Products & Services gained from hands on experience in Trade based operational roles.
- In depth knowledge of ICC trade policies and procedures, case studies and opinions.
Education / Certifications
- Finance, banking, accounting, business or risk management degree or qualification.
Ideally the candidate should be
- Certified Documentary Credit Specialist.
- Certified Specialist in Demand Guarantees
20-25 years of experience in trade services product management within international and regional banks. Strong and broad knowledge of Trade Services policy and compliance requirements.