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Senior Verifier - Trade Finance - UAE Nationals Only

Commercial Bank of Dubai

Posted on August 12, 2019

8 - 10 years United Arab Emirates - United Arab Emirates

Any Graduation, Bachelor of Technology/Engineering. Emirati (UAE)

Opening 01

Job Description

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Job Purpose
• Manage day to day operations of Exports, Structured Trade Finance Transactions in line with published SLAs / TATs
• Provide necessary guidance and advice to Outsourced Team (WNS) ensuring Seamless processing of Trade Transactions
• Manage, review and authorize transactions pertaining to SCTF, and Exports.
• Proactively manage all issues related to housekeeping, Internal Audit, Fraud, AML, Compliance and Internal Controls.
Principals Accountabilities:
• Manage end to end processing of all transactions under Structured Commodity Trade and Aval Transactions.
• Sign all original instruments against transactions processed by offshore / onshore teams.
• Validate / Authorize high value export transactions in systems
• Conduct Document Examination & Checking of high value transactions processed by offshore / onshore teams.
• Monitor and Manage Due Date Payments, Reimbursement Claims, Discounted Bills Booking & Payment.
• Conduct Daily/Monthly balancing of outstanding LCs, Documents and Discounted Bills & Aval Trns.
• Respond to queries raised by Offshore Team and provide professional guidance in timely completion of transactions.
• Review all incoming messages and correspondence pertaining to Exports, SCT and respond on t the same day.
• Same Day Processing - Monitor and ensure that All Customer requests are processed on the same day and thereby Customers receive efficient and quality service
• Ensure balancing and make prompt investigation in case of any difference to ensure the compliance with the Bank s requirements.
• Coordinate with various departments of CBD IT department, FI, FC and Treasury in achieving immediate remedy for issues related to Trade Finance Operations
• End of day balancing of processed /pending transactions using reports.
• Check and verify the documents/transactions completed by team members to ensure the quality, accuracy and completion of the work as per the requirements.
• Ensure routine jobs to verify / authorize SWIFT messages/payments; minimize rework rate; enhance STP rate to minimize repair cost and increase swift standards.
• To ensure that the Bank s laid down policies and procedures and local/international regulations are always being adhered to
• Daily Balancing - WIP, Payable & Receivable accounts pertaining to SCTF, Factoring & Exports.
• Exercise caution to eliminate all sorts of operational risks report and seek immediate remedy for issues if any.
• Take custody of original documents, conduct physical balancing and proper house-keeping of all records.
• Reconciliation of incoming and outgoing SWIFT messages and EDMS - Ensure completion of approved transactions on daily basis and take prompt actions for differences if any
• Monitor all customer complaints and take immediate remedial action in coordination with offshore team. Ensure that such complaints do not recur.
• Handle complex issues and review drafts of transactions as and when referred by customer service / outsourced team.
• Handle Compliance / AML checks for Trade Transactions.

Banking / Financial Services / Broking

Finance / Treasury

Desired Candidate Profile

• Bachelor s Degree. Formal training in banking would be an added advantage
• 8-10 years of experience, though not essential, would be preferred.
• CDCS Qualified
• Computer skills
• Communication skills
• Interpersonal relations skills
• Supervisory skills
• Organizing skills


Senior Verifier - Trade Finance

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Commercial Bank of Dubai

Established in 1969, Commercial Bank of Dubai (CBD) was founded by an Emiri Decree issued by His Highness, the late Sheikh Rashid bin Saeed Al Maktoum. Starting its journey as a joint venture between the Commercial Bank of Kuwait, Commerzbank, and Chase Manhattan Bank, CBD delivers a range of fin ancing solutions to several large corporate and government entities. CBD is the first financial institution in the Middle East to receive Social Accountability certification [SA 8000] from Det Norske Veritas (DNV).

Since its inception, CBD has successfully transformed into a modern and progressive banking institution. Its leadership consists of industry experts that ensure bringing complete client satisfaction. The Bank offers competitive rewards and benefits to its employees.

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