Junior Specialist Operations at Absa Group Limited (Absa)

Job Summary

• The IBD Fulfilment team is currently looking for a junior Ops specialist who will manage all elements of operations.
• They will ensure that department policies and procedures are always followed and that corrective actions are taken in respect of reported events, discrepancies or inaccuracies.
• They will also be responsible for the delivery of a range of business-critical processes, optimizing the use of resources to successfully meet and exceed challenging SLAs.

This person will also be accountable for:

• Meeting targets relating to service quality and overall productivity of the department
• Accountable for all aggregate impacts of daily BAU volume demand and resource management to achieve success, whilst also expected to support change requirements as required- Accountable for developing a culture of continuous improvement within the department
• Responsible for placing the Client at the heart of the operating model, ensuring that only value add services are provided
• Responsible for developing scalability and volume insensitivity, aligning the department to both the
• Business strategy and Clients needs
• Accountable for the production and maintenance of process documentation
• Manage technology performance and continuously improve inefficiencies 
• Develop and implement strategic change initiatives to improve Client service and/or reduce operating costs
• Be key point of contact for operational responsibilities

Job Description

Accountability: Capturing Transactions 

• Prepare and verify all information to ensure that the required standards of, import and export Letters of Credit, Documentary collections and related transactions are adhered to prior to submission for processing.
• Ensure technical correctness of each client instruction including:
• confirmation of completeness of client’s instruction
• validating or obtaining an exchange rate where necessary
• Check that exchange control is authorized. If an Exchange Control Application (ECA) has been submitted, ensure that a copy of the relevant application and approvals are obtained, adhered to and filed with the transaction.
• obtain and capture the correct Balance of Payments (BOP) category.
• check that signatories have been validated
• check indemnities where applicable
• Where documents are compliant, advise the overseas bank / client accordingly as per Absa policies and ICC rulings.
• Action payment instructions accordingly.
• Ensure adherence to quality standards to avoid risks to the Bank through effective & efficient submission of transactions.
• Adhere to service level agreements by ensuring timely processing
• Draw Day End listings and action accordingly to ensure that all work received is actioned on the same day.
• Review and monitor all office suspense accounts to ensure that there is a debit for every credit within 48 hours and that the reconciliation has a nil balance.
• File each document pertaining to transactions according to the set criteria within the department for ease of reference.
• Ensure the effective filing, archiving & retrieval of documentation is in line with Absa
• Read Absa and departmental circulars on a daily basis and, where necessary, clarify the
• contents of these with Team Leader to ensure understanding and implementation.
• Instruct and follow up Client On-boarding and the Trade Solutions Specialist on the
• need to create banks and customer portfolios.
• Compile and clear reconciliations of accounts by passing entries over the relevant
• accounts to correct entries when required.
• Action Day End procedures to mitigate risk.
• Accountability: Releasing Transactions
• Processing and administration Structured Trade Finance and services (guarantees, air releases, Letters of Credit and Documentary Collections).
• Verify information to ensure that the required standards are adhered to prior to releasing transactions.
• Ensure all team transactions are finalized and released by timely tracking and actioning of transactions on system queues.
• Verify and authorize all transactions processed by officials to ensure that the required standards of guarantees, air releases, import and export Letters of Credit, Documentary Collections and related transactions are adhered to.

Ensure technical correctness of each client’s instruction before verifying or authorizing, including:

• confirmation of completeness of client’s instruction
• validating or obtaining an exchange rate where necessary
• ensuring exchange control is authorized. If an Exchange Control Application (ECA) has been submitted, ensure that a copy of the relevant application and reply is obtained, adhered to and filed with the transaction
• check that the correct Balance of Payment category has been captured - check that signatories have been validated
• check that credit has been authorised
• validate completion in accordance with the relevant ICC (International Chamber of Commerce) rulings and Absa policies and procedures. If the above is not in place, obtain the information from the relevant stakeholders to ensure compliance before processing.
• Verify and release trade documentation (including documents of title) against relevant SWIFT to ensure compliance in terms of the relevant ICC ruling.
• Review and authorise the release of trade documentation prepared by customers to analyse and interpret content through effective application of International Chamber of Commerce (ICC) guidelines:
• Uniform rules for demand guarantees applied to guarantees bond and other payment undertakings
• International Standard Banking Practice
• Uniform customs & practice for doc credits (UCP 600)
• Rules on international standby practices (ISP 98)
• Uniform rules for bank to bank reimbursement under documentary credits
• Uniform rules for documentary collections (URC 522)
• ICC official rules for interpretation of trade terms (INCO terms 2000)
• Ensure that instructions/transactions received are authenticated, and completed within turnaround times by reviewing all transactions processed in the team before releasing.
• Ensure adherence to defined quality standards and standard processes to avoid risks to the bank through effective and efficient verifying, releasing and authorising of transactions.
• Escalate all issues that cannot be resolved to the Team Leader immediately. e.g.: potential losses, client claims.
• Ensure adherence to service level agreements by regularly informing team members of the required turnaround times and checking the production queues for overdue items, report overdue items, Coordinator and make plans to bring production back on track.
• Ensure the balancing of office suspense accounts within the 48 hour turnaround time
• Drawing and attending to daily, weekly, monthly and yearly reports/recons as per documented processes
• Ensure adherence to the filing, archival and retrieval polices in terms of documentation
• Read Absa and departmental circulars on a daily basis and, where necessary, clarify the content of these with fellow team members to ensure understanding and implementation
• Follow up and escalate Account Administration and the International Banking Sales Advisors with regards to delays in creating banks and customer portfolios.
• Accountability: Compliance and Risk Control
• Comply with prescribed policies, processes and procedures to prevent any financial losses.
• Comply with statutory and regulatory requirements, by checking that clients are FICA compliant, adhering to Exchange Control Regulations and Absa Sanctions Screening Policy.
• Complete all relevant compliance training and be conversant with the relevant
• regulations that impact on day-to-day functions.
• Apply and interpret customer transactions through effective application of
• International Chamber of Commerce (ICC) guidelines:
• International Standard Banking Practice
• Uniform customs & practice for doc credits (UCP 600)
• Rules on international standby practices (ISP 98)
• Uniform rules for bank-to-bank reimbursement under doc credits
• Uniform rules for documentary collections (URC 522)
• ICC official rules for interpretation of trade terms (INCO terms 2000)
• Apply individual technical expertise to ensure 100% accuracy of all transactions.
• Authenticate and complete instructions/transactions received within turnaround times and in line with the Absa Sanctions Screening policy.
• Make suggestions to the Team Leader or Line Manager on improvements to client solutions based on knowledge of the trade value chain.
• Monitor adherence to filing policies and procedures, and compliance to archiving and retrieval mechanisms that are in place for documentation.
• Check that the correct balance of payment (BOP) reporting for exchange control purposes is done
• Identify losses due to processing errors or internal fraud in the department. Escalate to the manager and provide all the required information to allow logging of the Risk and Loss events and participate in the investigations.
• Verify International Financial Institution (IFI) and Group legal departments’ opinions and authorizations on transactions.
• Monitor and ensure compliance with prescribed polices, processes and procedures to prevent any financial losses when verifying, authorizing and releasing transactions. This includes mandates, waiver of commissions and ICC rulings.
• When verifying, authorizing and releasing transactions, check for compliance with statutory and regulatory requirements by ensuring that clients are FICA compliant. Adhere to BOP, Exchange Control Regulations and Absa Sanctions screening policy.
• Complete all relevant compliance training and be conversant with the relevant regulations that impact on day-to-day functions.
• Verify, release and authorize work by tracking and actioning workflow queues within agreed time standards.
• Apply individual expertise to ensure 100% accuracy of transactions verified, released and authorized.
• Accountability: Customer Service and Query Resolution 
• Provide a high quality of service to all clients within agreed SLAs
• Ensure high quality of communication to internal and external clients, both verbal and written.
• Take ownership when dealing with a customer queries or requests, offer suggestions and conclude complaints constructively by investigating and resolving clients’ queries whilst protecting the banks reputation.
• Highlight issues and make suggestions to product teams to improve customer service.
• Satisfy customer needs through the effective and efficient resolution of customer queries escalated from the team, customers or the Bank.
• Monitor to ensure that resolutions are documented and follow up with internal and external customers to satisfactory resolution of their issues/queries.
• Maintain quality standards in respect of client service by ensuring that team members are trained and aware of standards.
• Based on observations made when interacting with clients, make suggestions for improvements to transaction flows and to client solutions based on knowledge of the trade value chain.
• Highlight issues and make suggestions to product teams to improve customer service.

Role / Person Specification

Education and Experience Required

• Grade 12/ NQF Level 4
• Minimum 2 years’ experience in foreign exchange
• Minimum 1 year exposure to reconciliations function
• 3 years’ experience in Trade finance/documentary trade (including import and export letters of credit, documentary collections and related products)

Knowledge & Skills: (Maximum of 10)

• Knowledge of International Chamber of Commerce rulings and publications
• UCP 600 Uniform Customs Practices
• ISBP International Standard Banking Practice
• URR 725 Uniform Rules for Reimbursements
• ISP 98 Rules on international stand-by practices,
• URR 528 Uniform rules for bank-to-bank reimbursement under doc credits,
• URC 522 Uniform rules for documentary collections
• INCO terms 2000 ICC rules for interpretation of trade terms
• Knowledge of regulatory and statutory requirements:  FICA, Exchange Control, Sanctions Trade Finance, Money laundering
• Analysis of verbal and numerical data
• Knowledge of banking systems
• Thorough knowledge of Letters of Credit, Foreign Guarantees & Bills for Collection
• Computer literacy

Education

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

End Date: November 24, 2025