Bahrain Job Openings
Novel Overseas Corporation
QA Specialist - Trade Finance
Manama
FULL TIME
October 2, 2024
Job Role Overview:
The position appears to focus on managing, optimizing, and supporting various payment processing systems, messaging standards, and trade finance products. This includes ensuring compliance with regional financial regulations, handling cross-border transactions, and managing complex financial messaging formats (SWIFT and ISO).
Key Responsibilities:
Job Type: Permanent
Experience:
The position appears to focus on managing, optimizing, and supporting various payment processing systems, messaging standards, and trade finance products. This includes ensuring compliance with regional financial regulations, handling cross-border transactions, and managing complex financial messaging formats (SWIFT and ISO).
Key Responsibilities:
- Payments Management:
- Book Transfers and Payment Gateways: Managing domestic and cross-border payment methods, including SARIE (Saudi Arabia), UAEFTS (UAE Funds Transfer System), IPI (International Payments Initiative), and Fawri & Fawri+ (Bahrain). Expertise in GCC RTGS (Real-Time Gross Settlement) for efficient fund transfers is crucial.
- SWIFT Messages:
- Handling MT100/101/103 for financial institution transfers, payments, and customer transfers.
- Managing MT900/910 (confirmation of debit/credit) and MT940/942 (account statements) to ensure efficient communication with banks.
- ISO Standards:
- Working with ISO 20022 for improved messaging in payment systems (Pain.001 for payment instructions, Pain.002 for status reports).
- Managing cash reporting via CAMT 052/053/054 for financial reconciliation and account statements.
- Bulk Payments & Utility Payments:
- Managing bulk payments and utility payments (SADAD for Saudi Arabia and Fawateer for Bahrain).
- Wages Protection System:
- Compliance with Wages Protection Systems (WPS) in KSA, UAE, and Bahrain, ensuring legal requirements for payroll payments are met.
- Virtual Account Management:
- Overseeing virtual account structures, ensuring proper tracking and reconciliation of payments for multiple clients or departments under a single bank account.
- Receivables and Collections Management:
- Managing incoming payments, tracking invoices, handling overdue payments, and ensuring a robust receivables management system is in place.
- Trade Finance Products:
- Managing trade finance solutions such as Letters of Credit (LC) and Guarantees (LG), including corresponding SWIFT messages, to ensure smooth international trade transactions.
- Receivables & Supply Chain Finance:
- Handling Receivables Finance, where outstanding invoices are used to raise short-term finance, and Supply Chain Finance (financing provided to suppliers based on buyer creditworthiness).
- Payment Systems Expertise: In-depth knowledge of regional and international payment gateways, SWIFT, and ISO payment standards.
- Regulatory Knowledge: Familiarity with compliance frameworks in the Middle East (WPS, SARIE, etc.).
- SWIFT Messaging: Deep understanding of various SWIFT message types and their application in the payments and trade finance domain.
- Experience in Trade Finance: Familiarity with trade finance instruments (LCs, LGs) and corresponding SWIFT communications.
- Analytical Skills: Ability to manage complex payment processes and identify improvements.
Job Type: Permanent
Experience:
- Trade Finance: 5 years (Required)
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