Company Profile
State Bank of India (SBI) a Fortune 500 company, is an Indian Multinational, Public Sector Banking and Financial services statutory body headquartered in Mumbai. The rich heritage and legacy of over 200 years, accredits SBI as the most trusted Bank. SBI Singapore (SBIS) has 5 retail branches, 19 SBIS ATMs and over 200 ATMs via the shared island wide ATM5 network. SBIS has a suite of retail banking products which complement its existing corporate banking products thus enabling us to service both individual and corporate customers. In Commercial and wholesale banking, our areas of operation include ASEAN, South East Asia and South Asia. SBIS leverages on its extensive international network of branches to offer a wide range of Import/Export Trade Finance Services, in both Singapore Dollar and foreign currencies to facilitate the business needs of customers.
Job Title: Remittance Processing Officer
Responsibilities
Remittance Processing Cell:
· Strong understanding of the process flow for each channel (Kiosk, Internet Banking, eRemit and other partnerships, as applicable).
· Oversee day to day remittance transactions through alternate channels ensuring efficient and timely processing of payments.
· Work closely with IT / Operations team to ensure all alternate channel remittance are processed within the stipulated TAT.
· Monitor reconciliation of outstanding balances in Suspense Accounts.
· Verify and authorize transactions, Release of OFAC alerts, Swift payments/messages pertaining to Alternate channel remittances.
· Attending to customers’ remittance enquiries and following up internally on remittance transactions.
· Well versed with echannels (INB and eRemit) screens to be able to assist customers’ queries via telephone.
· Aware of internal policies and process on blacklisted, deactivated customers and the requirements for activation. Clear understanding of the process for customers who call in for forget/lost User ID /Password for eChannels.
· Ensure compliance with AML-CFT policy and responsible for transaction monitoring / attend to compliance queries on transaction monitoring alerts.
· Prepare reports (daily/monthly channel reports, management and statutory reports) on a timely basis.
· To be updated on changes related to AML-CFT/KYC/CDD requirements.
Corporate TD Processing:
· Processing of Corporate Time Deposits including opening of new TDs as well as renewal of existing TDs, as per the instructions received from Corporate Relationship Managers.
Bulk Remittance Processing:
· The client relationship management in respect of the Corporate Ship Management companies for bulk remittance.
· End to End Management of the Bulk Remittance Transactions from the corporate arrangements in place.
· A clear understanding of the process from receiving the required documents from the corporate, to preparation of the file after validating the values with the pdf attachments.
· Following up on the timely credits into the account and ensuring smooth processing of the transaction.
· Sending the Transaction receipts to the corporate in the agreed format.
· Checking on the return transactions with the branch the next day and facilitating flow of information to and fro to the corporate and ensure proper closure to the file/transactions.
Others
· The employee should ensure adherence to the Code of conduct and the Code of ethics stipulated by the Bank.
· Participation in U.A.T. requirements and new project implementation as and when required.
· Supporting, contributing, promoting and driving technology initiatives like Internet applications, mobile applications, etc towards promoting customer convenience and service excellence
Requirements
· A recognized degree preferably in banking & finance or equivalent.
· Experience preferably in financial industry.
· 5 years of remittance and payment processing experience desirable.
· Good knowledge of SWIFT/MEPS systems/RTGS/ FAST/eNETS/Corporate TDs/Retail Banking products.
· Excellent telephonic etiquettes and communication skills with confidence in dealing with customers.
· Independent, meticulous and able to work with minimum supervision.
