Company Description
At RAKBANK, we believe in fostering a culture of innovation, growth, and excellence. We are not just a bank – we are a community that thrives on teamwork, cutting-edge solutions, and the highest standards of governance.
Join us in co-creating the future of RAKBANK!
Job Description
Job Overview
To manage end-to-end processes related to Escrow account services, including account opening, post-opening formalities, reconciliation, and discrepancy resolution. The role also supports business control functions such as profile change reviews, trade license monitoring, and MIS reporting, ensuring compliance with internal policies and regulatory requirements.
Functional Responsibilities:
- Act as a liaison between Relationship Managers (RMs), Operations, and Customers for Escrow account services.
- Support business control activities including profile changes, Firco checks, and high-risk reviews.
- Coordinate with internal departments to resolve client and operational queries.
- Maintain and update MIS reports for internal tracking and audit purposes.
Core Responsibilities:
- Escrow Account Management:
- Coordinate with RMs and customers for Escrow account opening documentation and requirements.
- Ensure timely issuance of IBAN confirmations, welcome kits, and remittance forms post account opening.
- Customer Communication:
- Serve as the primary point of contact for clients regarding account opening and remittance issues.
- Provide timely updates and resolutions to customer queries.
- Business Controls & Compliance:
- Handle profile change requests, including Firco screening and high-risk customer reviews for both profile change and additional business account opening requests.
- Monitor and follow up on Trade License expiries and cheque return cases.
- Execute exit formalities for non-compliant accounts.
- Reporting & MIS:
Prepare and maintain routine MIS reports including Service Requests (SR), Trade Finance, and SRB reports.
Qualifications
Minimum Qualification:
- Bachelor's degree in Commerce or Business Administration, or related field.
Minimum Experience:
- Minimum of 2 years’ experience in banking or financial services, with a focus on compliance,
- Business controls or compliance support
- Customer communication and documentation
- Regulatory compliance checks (e.g., KYC, AML, Firco screening)