Specialist-Payments and Settlements Forex

Job description

- **ROLE PURPOSE & OBJECTIVE** Forex inward / outward processing and monitor end to end activities. Monitoring Swift messages and responding timely manner. Validating daily R returns and submission. Fair understanding of NRE products and FCNR B Deposits & EEFC month end liquidation. Need to handle Compliance & Audit requirements related to Remittances & Trade Operations Responsible for executing BCP-Business Continuity Plan. Perform daily Nostro reconciliation Maintaining the records  Processing of retail inward and outward forex transactions for and average volume of 200 crores and monitoring of all 750 plus branches.  Processing of trade inward and outward remittances for and average volume of 500 cores for approx. 500 transactions per month - Timely reporting and monitoring of all financial transactions to regulator /regulatory compliance - To ensure BCP is conducted and reporting is done as per the defined timelines. Maintaining and publishing MIS. Monitoring the SWIFT settlements. Daily transaction reconciliation **IV.** **KEY DUTIES & RESPONSIBILITIES OF THE ROLE** **Business/ Financials** Processing of Inward and Outward Forex transactions. Reconciling and reporting of transactions and co-ordinate with TBO  Ensure all retail forex activities align with regulatory standards, implementing process improvements to enhance efficiency and client experience. Monitoring of Office and internal GL accounts and clear of pending entries within SLA Executes BCP for activities managed on a quarterly basis Monitors smooth execution of robotic process automation process implemented for payments products. Attends branch/clientqueries received related to FXPayments Prepare and publish various MIS related to Payments and Settlements to business stakeholders Incident reporting for all applicable incidents/operational issues to Ops risk. Close monitoring of SWIFT transactions, Checker and Monitoring Nostro account and ensure timely reconciliation. No exceptions or penalty **Customer (Both Internal & External)** Nil instance of Inward return marking for wrong reason**.** Implement process enhancements and automation initiatives to streamline transaction workflows, reduce processing times, and minimize errors. Ensure nil instance of customer escalation to senior management Service Quality Index Score - >95% Support to branches in resolving customer queries with regards SWIFT settlements. **Internal Process** GL reconciliation and Review. Responsible for reconciliation of SWIFT messages Reconciliation of all payment’s transactions on daily basis. Validating the client documents and passing entries. Checklist to be prepared and ensure to monitor on daily. Monitoring and preparing daily vouchers for financial transactions. Identifying opportunities to streamline processes, improve efficiency and reduce operational cost. Root cause analysis within 2 days of exceptions/errors and Implement corrective measures to avoid repetition Assist the supervisor in implementation of ad-hoc duties and assignments. Preparing SOPs for Payments and Settlements and also annual review of the same. **Innovation & Learning** Timely completion of assigned modules in self-learning platform Reviewing of existing processes & identify scope for improvements Enrolling for Certification courses in Banking Learning of new processes within Operations unit and staying updated. Ensure to certificate FEDAI exam on Foreign exchange. Back-up creation for critical ops roles