Sterling Bank Plc Recruitment for Team Lead, Trade Compliance


Sterling Bank Plc “Your one-customer bank” is a full service national commercial bank in Nigeria. In over 50 years of operations, Sterling Bank (formerly NAL Bank) has evolved from the nation’s pre-eminent investment banking institution to a fully-fledged commercial bank; and completed a merger with 4 other banks – Indo-Nigeria Merchant Bank, Magnum Trust Bank, NBM Bank and Trust Bank of Africa – as part of the 2006 consolidation of the Nigerian banking industry.

We are recruiting to fill the position below:

Job Title: Team Lead, Trade Compliance

Location: Lagos
Job Type: full-time
Specialization(s): Banking/Finance/Insurance,Quality Assurance/Control

Job Summary

  • To ensure compliance with Credit, Trade and Treasury policy guide, procedures and regulations relating to their activities.
  • As well as harmonise the risk assurance activities of Credit, Trade and Treasury Services thereby ensuring efficient operations, effective and timely reporting

Job Description

  • Review the compliance to Credit, Trade and Treasury business extant policies and regulations
  • Maintain correspondent banking relationship with offshore correspondent banks pertaining to AML/CFT
  • Render compliance advisory to both internal and external customers and staff when necessary
  • Facilitate inhouse compliance capacity building via sensitization through effective platforms to Credit, Trade and Treasury staff
  • Render weekly and monthly report of activities in Credit, Trade and Treasury Compliance
  • Call over postings on transactions processed in Trade Services; Call over of bulk upload transactions
  • Carry out Credit, Trade and Treasury process and product review on sampled transactions
  • Monitors FX Utilization and its report rendition to the CBN on a weekly basis
  • Conduct Enhanced Due Diligence (EDD) on identified high risk customers
  • Review of Trade instruments and documentations; Form M & PAAR processing, Bill for Collection transaction review (Invisible Transaction Documentation), Certification of Capital Importation, Letters of Credit establishment, amendment and negotiation review; Foreign Funds Transfer transaction, Interbank Placement and Takings review; Export proceeds domiciliary account review, Swap, Repo, Spot, Forward, Future, derivatives (NDF) and other foreign exchange instrument review
  • Review unutilized funds, quarterly distribution of interest
  • Review and Submit endorsement of shipping document

Job Experience

  • Minimum of 5-year experience, preferably in commercial banking

Deadline: 31st August, 2020.


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