- Streamline the workforce of the remittance section in order to provide a more efficient and equitable distribution of work.
- Checks and examines all transactions/reports of the section as to form, accuracy and completeness of the requirements and compliance to existing internal and external policies and approves them accordingly.
- Releases all foreign inward and outward telegraphic transfers, in dollar or third currencies, intended for foreign banks abroad via SWIFT
- Releases all peso and foreign exchange denominated transfers to and from local banks via PesoNet/PDDTS
- Releases the necessary entries and encodes the same in T24/FMS
- Checks the details and supporting documents if compliant with the updated process and procedure manual for remittance.
- Forwards the approved PAF to SWIFT section for encoding and transmittal to foreign banks abroad
- Tallies with SWIFT section the number of telegraphic transfer transactions for the day
- Reconciles all entries pertaining to outward and inward remittances against the Statement of Account of our foreign correspondent bank
- Monitors regularly the performance of the remittance section versus plans and standard, analyze deviations, pinpoints areas for improvement and direct appropriate courses of action to ensure prompt and proper solution
- Coordinates with other units/departments/divisions/branches of the bank regarding new policies, rules or regulations, schedules of charges for implementation pertinent to global telegraphic transfer and Swift
- Checks and verifies the amounts credited in nostro accounts against the remittance copies received from the SWIFT section.
- Performs the AMLA and Sanctions screening via Base60 watch list
- Performs transactional due diligence of incoming transactions based on the approved threshold.
- Verifies and sends conversion report to Treasury
- Performs feedback of all transactions received within the cut-off from Philpass, Pesonet and PDDTS
- Performs EOD and callback activities for all the transactions processed at EOD
- Responsible in forwarding MT103 to SWIFT unit for Feedback.
- Sends email to branches for transactional Due Diligence and additional information/documents.
Qualifications:
- Bachelor’s degree in any business-related courses
- At least 1 to 3 years of experience in banking operations, particularly in Remittance Operations.
- Rank: Junior Assistant Manager
Job Type: Full-time
Schedule:
- 8 hour shift
Experience:
- Remittance Operations: 1 year (Preferred)
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