Prestigious International Bank based in the heart of the City, are looking to recruit a Middle Office (Loans Administration) Officer, to join their newly created Middle Office Department. Main purpose of this position, will be to ensure that all deals negotiated by the front office and approved by the Credit Committee are accurately booked, processed and paid out. You will also liaise with Business Development (BD), Finance and Risk to ensure the instructions for drawdowns of Loans and or Letters of Credit are received in an accurate manner, have received all the required approvals and have been processed by the Banking Service (Ops) team.

Main responsibilities of the Middle Office Officer will also include;

Receive drawdown instructions from Business Development, review for accuracy comparing to the approval given by the Credit Committee to ensure accuracy of the request. Any discrepancies are to be reported to line manager or returned to BD. This includes checking; value dates and maturity dates, interest rates and calculation of interest rates to ensure accuracy, customer details - ensuring the correct customer is referenced, disbursement instructions are correct, seek authorization on drawdown once middle office are comfortable and ensure all approvals are in place before passing to Operations for input and ensure Risk have input required limits or possibly input them yourself with approval.

Present instructions in good time to Banking Services manager for processing.

Maintain fully referenceable audit trail of all actions, changes and approvals.

Produce MI for Senior management such as P/L on products.

Perform a Post input check and review in the core banking system that the deal has been input correctly

Monitor periodic rate changes, partial repayments and check the change in the core banking system is correct.

Monitor deal maturities, ensuring any actions that are required to be taken are notified to the operations department in good time.

Monitor specified Nostro and suspense accounts for any unexpected funds. Investigate and remedy. This includes tracking of funds until removed from theNostro or Suspense.

Moving of funds to a suspense account when necessary such as unpaid interest and monitoring until resolution.

Account for and manually calculate backdated rate changes in system.

Liaise with Finance and pass on instructions for rates on current accounts where a special arrangement has been agreed with the customer.

Ensure all fees (facility, arrangement etc.) are accounted for and booked in the system, either by Operations or Finance if spreading is required, to avoid any lost income or unexplained incoming funds.

Investigate any unexpected incoming funds or incorrect amounts for a loan rollover/interest repayment or loan liquidation.

Ensure all legal fees/invoices are passed to Finance for prompt payment.

Build procedures and process flows for the department highlighting controls where appropriate and develop further controls as you see fit.

Develop procedures for new products the Bank may take on and ensure any manual controls where required are developed.

To be considered for the Middle Office Officer position, ideal candidates must have the following experience & skills;

Business Development Experience

Operations and or Risk experience

Microsoft Software

Banking background

Flexcube - preferred