Bank Guarantee Specialist

4 days ago

Chennai, Tamil Nadu, India beBeeRiskManagement Full time
Job Description

The Bank Guarantee Specialist is responsible for overseeing the entire bank guarantee process, ensuring timely issuance, amendment, and cancellation of guarantees in line with internal policies and regulatory requirements.

This role will drive process improvements, manage operational risks, and ensure adherence to service level agreements, aiming to optimize the overall performance of the bank guarantee function.

Key Responsibilities
  • Manage the end-to-end issuance, amendment, cancellation, and claims of bank guarantees in compliance with internal policies and external guidelines.
  • Ensure accurate and timely processing of bank guarantee transactions, including document verification, customer/branch instructions, and liaising with counterparts.
Compliance and Risk Management
  • Ensure all bank guarantee processes adhere to internal risk management frameworks, regulatory requirements, and anti-money laundering standards.
  • Conduct periodic reviews of bank guarantees to identify and mitigate operational, credit, and legal risks.
Customer and Stakeholder Engagement
  • Act as the primary point of contact for customers regarding bank guarantee queries, providing timely and accurate responses.
  • Collaborate with corporate clients and internal stakeholders to resolve issues or discrepancies related to guarantees.
Process Improvement
  • Continuously review and enhance the bank guarantee process to improve operational efficiency, reduce turnaround times, and ensure service excellence.
  • Implement automation and digital solutions to streamline the issuance and management of guarantees.
External Liaison
  • Liaise with external stakeholders, including beneficiary banks, regulators, and auditors, to ensure the smooth execution of guarantees.
Reporting and Performance Monitoring
  • Generate regular reports on the status of guarantees, including KPIs such as processing times, volumes, and outstanding risks.
  • Monitor performance metrics and ensure targets are met, addressing any issues related to delays and inaccuracies.
Requirements
  • Graduate or Postgraduate degree.
  • Professional certification in Bank Guarantees (CSDG) is preferred.
  • Minimum 6 to 8+ years of relevant banking operations experience in managing bank guarantees processes.
  • Strong understanding of regulatory requirements and risk management practices related to bank guarantees.
  • Excellent communication and interpersonal skills, with the ability to interact effectively with customers, stakeholders, and team members.
  • Proven ability to drive process improvements and implement digital solutions.
  • Strong analytical and problem-solving skills, with attention to detail.
  • Ability to manage multiple priorities and work under pressure to meet deadlines.

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