CIB -Transaction Approval Risk Manager – Associate
Job Description
Role and Responsibilities:
- Manage a cash payment monitoring/approval function that affects and controls credit exposure within a fast-paced environment.
- Manage intraday credit exposures for a portfolio of clients and treasury services products that span various currencies and settlement requirements.
- Apply sound operational and credit risk management principles, judgment, research and investigation to support process and to manage credit exposures/ decision approvals within respective approval authority.
- Understand and support operational control and regulatory reporting requirements (including Reg O, Reg W and client money accounts).
- Monitor and approve intraday cash payment transactions.
- Engage Client Service to interact with their clients to determine appropriate funding for shortfalls.
- Monitor, acknowledge and approve overnight overdraft exposures.
- Inform Client Service about aged overdrafts (and priority of aged ODs) requiring their attention.
- Refer payments over allowed credit approval authority to the appropriate Credit Officer; provide Credit Officer with decision criteria information to enable an appropriate and timely Credit approval.
- Work with Operations and Client Services to manage priority payments, fail payments, mark payments hold for cover and ensure payments are actioned by cut-off times; Inform Client Services about held or failed payments impacting their clients (note: in EMEA, Operations informs Client Service)
- Support the Global Treasury Money Desk on the end of day settlement process including FED wire payment extensions. This includes coordination of FED and CHIPS settlement with TAG Risk Associates and Money Desk personnel to manage the position of the bank's FED account through FED close. TAG monitors remaining payments in the queue and accounts with balances in overdraft or that have surplus balances over certain threshold. TAG communicates with customers directly (including all CHIPS Settlement Banks), counterparty banks, Client Service, Relationship Managers and CIB Credit Risk as well as reviews Advice to Receive (ATR) information to determine how customers plan to settle their account position with us.
- Coordinate with Operations to action all payments by end of day to enable branch closure. [EMEA, Asia, Canada and Mexico]
- Work with peers and managers to ensure proper skilling and preparation to support resiliency plan.
- Inform aligned Product Risk Managers about client portfolio activity, issues and provide line sizing recommendations.
- Engage Credit Middle Office to address data linking issues that are uncovered through daily approval function.
- Engage in other Data Quality Review and Remediation efforts with various groups.
- Liaise with key stakeholders including Credit, Relationship Managers, Product Management and Operations regarding client credit limits/arrangement recommendations to support clients' activities.
- Actively participate in client and country crisis management risk mitigation actions including Rapid Exposure Drills (RED) with Credit and Relationship Managers.
- Engage as a subject matter expert for payment systems and processes.
- Participate in projects that relate to TAG core functions as requested by management (e.g. Assist with the development of the Global Funds Control (GFC), TAS-O, and any other systems that function with credit controls).
Qualifications:
Your Background:
These points have been carefully considered as being essential for the role. Your background must accurately reflect all of these for your application to be considered.
- Experience of money transfer approval process
- Credit risk management experience of Treasury Services products
- Credit training through a formal Bank programme or professional qualification e.g. CFA
- Banking experience, ideally in an international bank
- Ability to think clearly and concisely in a pressurised environment and to be accurate, reliable and confident in approving credit exposures within delegated lending authority
- A good understanding of the global financial system and the process by which securities and cash settle in markets.
Desirables:
- Experience in credit issues for Financial Institutions, Non-Bank Financial Institutions and Corporates
- Experience with JPMorgan systems e.g. Global Funds Control, Cosmic, CCMS, Exposure Now.
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