Bonds, Guarantees & Indemnities Specialist (BGI) at Absa South Africa

Job description:

Some of you key accountabilities will include;

• Taking ownership of BGI Products, responding to all client and internal stakeholder queries and driving the issuance of the requested Guarantee within the required turn-around times.
• Referring applications for Credit, Legal, Exchange Control, Alternate Foreign Correspondent bank and Special pricing if applicable.
• Performing checks to determine referrals required.
• Verifying and authorizing all transactions processed by the team members to ensure that the required standards of BGIs are adhered to.
• Ensuring technical correctness of each client instruction for Local and Foreign Guarantees when processing, this includes: - Confirmation of completeness of client instructions - Perform quality check on BGI ensuring accuracy and completeness
• Maintaining a good understanding of all governance applicable to the BGI Centre (FICA, SOX, Exchange Control, Trade Sanctions Screening Policy, Money Laundering, UCP600, INCO terms 2000, International Standard Banking Practice, ICC official rules for interpretation of trade terms and Internal/External audits) by keeping abreast of current and future policies on the Absa Intranet.
• Complying with and ensure compliance to prescribed policies, processes and procedures to prevent any financial losses, when capturing transactions. This will include validation against mandates, waiver of commissions and International Standard Banking Practice Rules.
• Fully understanding and adhering to the product Customer Value Proposition (CVP), ensure delivery of a world class service to all customers.
• Ensuring adherence to standards for tracking of productivity and turn-around times by updating workflow consistently for all handovers and all other critical points in the process that are used to measure overall end to end turnaround time for processing of BGI products.
• Submit your application for this role if you have a B Degree or Law degree and at least 3- 5 years' experience of Local or Foreign Guarantees

Education

• Higher Diplomas: Business, Commerce and Management Studies (Required)