Associate, Transaction Management Unit (Commodity & Structured Trade Finance)
The Transaction Management Unit [TMU] forms part of the front office of Commodity & Structured Trade Finance [CSTF], managing the many aspects of the commodity trade finance business. These include registration and daily management of collateral related to crude oil, metal concentrates and soft commodities. TMU compare the price of commodities against the exposure of the financing granted to our client. Since the price of the commodities can go up or down, we re-value our exposure to ensure that we have sufficient collateral and where it is short, request our client to cover it.
Other functions include:
- Establishment and management of facilities and their associated control(s) tools,
- Provide execution instructions to Operational departments e.g. Trade Finance regarding products such as Confirmation of Export L/Cs, Issuance of Import L/Cs, Loan utilisations, Receivable Discounts as well as transactions related Syndicated, Borrowing Base and Fronting facilities, to name but a few.
- General banking administration, Exceptional Treatment reviews for the smooth operation of our facilities, OVS setup for Clients to receive electronic statements. TMU intends to provide an Exceptional Treatment Guide for your information, in due course.
- Implementing Margin Call Finance being a new product for CSTF, in the near future.
- TMU members are experts in Trade Finance products generally used in the Commodity finance business transactions, and have knowledge of the International Chamber of Commerce rules for Letters of Credit, Standby Letters of Credit, Guarantees, Documentary Collections, Bank to Bank Reimbursement's and some members have the relevant professional CDCS qualification.
- We use this expertise to provide an exceptional service to our internal and external Stakeholders not only in London but also within the EMEA region and our branches in New York, Singapore, Mumbai, Hong Kong and Sydney.
NUMBER OF DIRECT REPORTS
MAIN PURPOSE OF THE ROLE
To ensure that facilities under the control and management of the Transaction Management Unit (TMU) are maintained accurately within the systems and controls available [TRAC/Excel, where applicable]. This role will focus on monitoring exposures, collateral values and financing ratios on a range of secured commodity finance facilities including bilateral, syndicated borrowing bases and facilities whereby MUFG has a security agent role and/or account Bank role. The candidate will ensure that all drawings have been processed in a timely manner in accordance with MUFG policies (credit approvals, legal framework, current regulatory and compliance requirement) and procedures.
- To provide support in respect of facility, administrative and collateral management activities. This role will focus primarily on transactional secured facilities (including margin call financing sublimits), borrowing bases and facilities where MUFG has a security agent and/or account Bank role.
- Perform reviews of term sheets, credit applications [Ringi's], facility & security documentation from an operational perspective to ensure workability. This will ensure smooth and efficient deal processing when necessary without unnecessary delays.
- Review of client drawdown requests, including the analysis of purchase and sales contracts and security documentation to ensure that transactions are in accordance with the terms of the approved facilities and security categorisation.
- To ensure that all transactions that are due are processed and that administrative tasks such as renewals of Exceptional Treatments and updates of control tools are performed in a timely manner.
- Take responsibility for daily liaison with respective stake holders such as clients, relationship and product managers, middle and operational units.
- To monitor inward communications and prioritise according to the importance of subject matter with an emphasis on client centricity.
- To assist with training and guidance to staff less experienced in complex commodity finance facilities in order to enhance the team's product knowledge and ensure that deals are processed within approved parameters.
- To provide technical and operational assistance to all stakeholders including clients, Relationship Managers, branches and operational units within EMEA.
- Ensure that reporting obtained from the Jasper system correctly reflects the exposure relative to the facilities under the control and management of TMU, and that at the appropriate reconciliation periods the control systems [TRAC/Excel] are in parallel with the banks accounting system OVS.
Preferably at least 7 years' operational experience within a financial institution or institution familiar or active in the standard Trade Finance suite of products. Operational knowledge of transactional secured facilities, borrowing bases and security agent & account bank roles essential, together with operational and administrative knowledge of TPA business.
SKILLS AND EXPERIENCE
Functional / Technical Competencies:
- Proficient in up-to-date market standards and practices relative to the products administered within TMU (e.g. ISP98, UCP600, e-UCP,URDG, Incoterms)
- Proficient in the standard Microsoft Office suite (e.g. Outlook, MS Word, MS Excel)
- Ability to determine the effectiveness of designated collateral when offered or required as security to the Bank, and be familiar with the re-valuation and/or mark to market processes required to determine LTV.
- Knowledge of the requirements and responsibilities of a security agent & account bank role within the Commodity Finance business.
Education / Qualifications:
- Minimum GCSE (or equivalent) in core academic subjects
- A Level (or equivalent) preferred
- Additional language skills advantageous
- Excellent communication skills
- Results driven, with a strong sense of accountability
- A proactive, motivated approach.
- The ability to operate with urgency and prioritise work accordingly
- A structured and logical approach to work
- Strong problem solving skills
- A creative and innovative approach to work
- Excellent interpersonal skills
- The ability to manage large workloads and tight deadlines
- Excellent attention to detail and accuracy
- A calm approach, with the ability to perform well in a pressurised environment
- Strong numerical skills
- Excellent Microsoft Office skills
We are open to considering flexible working requests in line with organisational requirements.
MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.
We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.