IMI CIB - Senior Officer - Remittance & Settlement

Scope and Purpose

Position Keeping

• On a daily basis, compute the position of various currencies
• Provide the information to the dealers
• To ensure that the manual position tied with the Nostro projected position

Incoming Remittances

• Prepare or authorise the Sire incoming payments
• AML screening for incoming remittance from High Risk countries

Outgoing Remittances

• Upon receipt of outgoing remittances from customers, to verify the signatures in our Records and check if signatures are in order
• If signature is in order, to proceed with the preparation of the payment
• All remittance instructions received by fax or email need authorisation from the Relationship Manager, and call-back customer to confirm that they did send the instructions, if required
• AML screening for outgoing remittance to beneficiary located in High Risk countries

Incoming Cheques Clearing

• To download from CTS daily cheque images and reports
• To check the signatures on the cheques
• To ensure that there is adequate funds in the accounts
• If there is deviation of the signature or inadequate funds, the Relationship Manager must be informed

DTCC Reporting

• Submitting DTCC report when required

GIRO

• Download EGIRO daily file
• Check incoming funds for non-bank customers and generate entries to post the amounts to the relevant accounts

SWIFT Manual Payments / Receipts

• Clear all incoming Swift messages and distribute to the respective depts
• Prepare or authorise Swift manual payments / receipts  

Securities

• On a monthly basis – balancing of Statement of Securities Holding for SGD and EUR – check report with Swift MT535
• Write up of any new purchase and sale of securities to be given to Middle Office for input into the system and check after input
• Confirmation and matching via SWIFT MT541 / MT543 / MT202 / MT 210 – for Euro Bonds

Monthly Reporting to MAS

• Report of Singapore Government Securities held by bank

Settlement

• Every morning match, check and release MM/FX payments/receipts due.  Also to check/match list of unconfirmed transactions against the Money Market and Foreign Exchange activities of previous day deals
• Checking of MM and FX tickets to ensure counterparty details, amount and settlement instructions correspond with the Broker’s / Reuters confirmations
• Once these have been done, create payments / receipts
• Release payments / receipts and match them against the outgoing printed acknowledged (Ack) copies and ensure all details are in accordance with the Counterparty’s Nostro instructions
• Release all MT300 or MT320 once created /listed in the queues for releasing confirmations
• Match daily (MM/FX-MT320/MT300) to the tickets​​​​​​​

Required Experience

• At least 5 years of remittance and / or settlement experience in the banking industry
• Due to plans to expand dealing room activities, we welcome candidates with settlement experience in products such as MAS bills, SGS, bonds, repo/reverse repo, FX, IRS and CCS, to apply

Required Qualifications, Skills and Knowledge

• Diploma or Bachelor Degree holder
• Fluent in English
• Strong MS Office and PC skills 
• Strong knowledge of SWIFT
• Strong knowledge of AML requirements 
• Able to co-ordinate and collaborate with other departments
• Team player who is flexible with job duties as there will be job rotation and covering of duties for colleagues