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Mashreq Bank Jobs in Dubai; Monitoring Manager - Trade Commodity & Finance

Posted By : Brown Kaje on Monday, 5 May 2014 | 7:35:00 am

Job Title:        Monitoring Manager - Trade Commodity & Finance
Job Location:   Dubai, UAE
Employer:    Mashreq Bank
Job function:     Corporate Banking

About Us:
Mashreq has provided banking and financial services to millions of customers and businesses since 1967.

We are one of UAE's leading financial institutions with a growing retail presence in the region including Egypt, Qatar, Kuwait and Bahrain. We focus on providing our customers access to a wide range of innovative products and services.

Mashreq is invariably among the highest performing banks in the Region. It’s financial performance reflects on its commitment to continue leading the UAE banking industry. Our branch network extends across the UAE with one in every two households in the UAE banking with us. We also have customer service centres in key retail locations and one of the largest ATM networks in the country. We also have 12 overseas offices in nine countries, including Europe, US, Asia and Africa.

Job Overview:
This job is critical for the success of facilities structured under a Trade Commodity Finance structure.  The job ensures that key monitoring and control structures are robust and is responsible for authorizing clearance for every transaction after checking that these fall within the approved TCF terms.

Job Requirements:
• Preferably a qualified accountant, with strong numeric and computer skills and 4 – 6 years banking experience.
• Local market and Trade knowledge.
• Understanding of Financials and must possess credit skills.
• Sufficient knowledge of the bank’s products and operating systems.
• Conversant with basic banking laws and local regulations.
• Good PC skills
• Should have a pleasant personality and show tact and diplomacy while maintaining total independence from marketing  considerations

Job Duties:
•The monitoring officer’s (MO) function is in tracking and monitoring the flow of goods and receivables through different internal and external sources (e.g. agent, banks and inspectors) and translating the status of related collateral
• Analyse new or amended facilities and design/implement an appropriate monitoring structure
• Consult with and advise the participants in the agreement regarding all aspects of the bank’s requirement
• Consult with clients on the implementation of the credit and the conditions regarding collateral
• Conduct physical checks on delivered and actual securities and produce appropriate reports
• Serve as liaison point between clients and relevant departments (legal, risk, compliance) within the bank
• Monitor and assess whether the supplied credit and collateral documentation and financing structures continue to meet the applicable (legal) criteria
• Escalates to relevant stakeholders and management in case deliverables deviate from quality agreement
• Maintains the agreed controls environment to ensure that the highest standards of support are consistently applied to effectively protect the bank’s position
• Determine whether individual transactions fit within framework of a facility as approved by the facility
 Screen, calculate & determine value of the collateral, overdue receivables,  inter-company receivables, stock, market prices
• Asses/approve LC opening
• Approve payments within framework of the facility
• Amend collateral value on the basis of price developments
• Coordinate excess approval process
 Reports the total outstanding against the approved collateral per customer and per facility

Deadline Date: 30/06/2014

Apply Online


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