BASIC PURPOSE :
Supervise the day-to-day operational processes and core deliverables within the compensation team. Understand and assist in the overall coordination of the operational risk management, resource planning, and staff training required for the effective operation of the team. Provide assistance to the Management in managing of the team, and to ensure that client service is central to the workings of the group.
Should have team managing experience (8-10 FTEs in the past)
Should be able to handle escalation
Role includes incoming and outgoing claims management, ensuring that claims are resolved timely and accurately, reduce exposure to bank, manage team size of 13-15 staff
Assist Senior Management in reporting and any adhoc requirement
Major Responsibilities:
Ensuring daily/weekly/monthly reports are delivered in timely manner with 100% accuracy
Work with corresponding banks or counterparties to reduce overall exposure to the organization
Ensure that all claims are resolved in timely manner and are escalated accordingly for immediate resolution
Ensure that all KPIs are met on monthly basis
Any escalated issues are addressed immediately and steps taken to avoid recurrence
Ensure that all aspects of risk and compliance are covered with the team on a weekly basis and are met
Ensure that all regulartory requirements and reportings are done timely including compliance trainings for the team
Ensure errors are minimised and Bank’s exposure to financial loss is minimised
Check and verify swifts and payment entries as the first line of defense
Assist with review for current operating procedures. Make recommendations for improvement that eliminates processing deficiencies, addresses operational risk and ensures ongoing focus on best practice
Staff Supervision
Effectively supervise staff and support the Manager – Investigations in the daily management of the group, to include resourcing of leave, shift coverage and overtime
Assist in the management of workflows to ensure an equitable distribution of work amongst staff is achieved
Monitor staff to ensure work is being completed in a timely and efficient manner, and prior to currency/customer deadlines
Provide feedback to the Manager – to assist in the completion of the Performance and Planning Review (PPR) for process for the team
Support an environment which promotes teamwork, motivates and rewards staff
Work with your manager to identify training requirements; conduct staff training as required
Ensure effective delegation – monitor and ensure completion of delegated tasks
Client Service
Act as the 1st point of contact for interdepartmental, client and staff queries/issue relating to the compensation team. Escalate any issues to management as required
Respond promptly to client (internal / external) concerns, needs and requests
Ensure all agreed deliverables and standards are met
Change Management
Demonstrate a willingness to support change / initiatives within Bank (locally / globally)
Demonstrate ability to take on tasks without instruction
Assist with tasks associated with technology and procedural changes that effect the compensation team (global/local/industry)
Products / Services Supported
FX / MM / TSY / TMPG / Security / OD Claims
Revaluations
Interest Analysis
Primary Nostro
REQUIREMENTS :
Education and Experience
Industry Accreditation
Demonstrated market knowledge and relevant market experience into compensation and settlements
Experience in operational and staff supervision
A strong aptitude for information technology including MS office, Crystal, SWIFT
Skills/Knowledge
Candidate should have good analytical skills
Effectively communicate with internal and external clients
Demonstrate the ability to assess and suggest resolution to a problem
Understanding of Bank’s product and services and; the working relationship between front and back offices
Be a strong team player
Demonstrate professional maturity and effective time management
Embrace State Street’s “Corporate…