Assistant Manager Swift Operations
Job Overview
Job Description
About the Role:
To ensure accurate, secure, and timely authorization and release of incoming and outgoing SWIFT messages and international payment transactions. The SWIFT Operations Authorizer is responsible for independently reviewing transactions initiated by makers, validating supporting documentation, ensuring compliance with regulatory requirements and internal policies, and maintaining effective operational controls to minimize financial, regulatory, and operational risks.
Job Responsibilities:
SWIFT Transaction Authorization
- Independently review and authorize outgoing SWIFT messages before transmission.
- Verify SWIFT MT and MX messages, including MT103, MT202, MT202 COV, MT199, pacs.008 and pacs.009, as applicable.
- Validate beneficiary name, account number, IBAN, bank details, SWIFT/BIC codes, currency, amount, and payment instructions.
- Verify that transactions are supported by appropriate approvals and supporting documentation.
- Reject or return transactions containing discrepancies, incomplete information, or unauthorized instructions.
Compliance & Regulatory Verification
- Ensure compliance with applicable State Bank of Pakistan (SBP) regulations, AML/CFT requirements, and internal compliance policies.
- Review sanctions screening results and ensure flagged transactions are appropriately escalated and cleared by authorized compliance personnel.
- Ensure transactions comply with applicable regulatory requirements and internal approval limits.
- Identify unusual, suspicious, or high-risk payment transactions and escalate them to the relevant departments.
- Ensure appropriate due diligence is performed before authorizing international payments.
Payment Validation & Risk Management
- Review high-value, sensitive, and exceptional transactions with additional scrutiny.
- Validate exchange rates, charges, value dates, and correspondent banking instructions, where applicable.
- Ensure transactions are not duplicated and that payment instructions are properly authenticated.
- Identify potential operational errors, fraudulent instructions, and irregular payment activities.
- Ensure appropriate controls are applied to amendments, cancellations, recalls, and returned payments.
- Escalate unusual transactions and operational risks to management.
SWIFT Message Monitoring
- Monitor SWIFT message transmission status and acknowledgement responses.
- Review ACK and NAK messages and ensure timely resolution of rejected messages.
- Ensure authorized transactions are successfully transmitted to the intended beneficiary or correspondent bank.
- Monitor pending, rejected, and failed transactions and ensure appropriate follow-up.
- Coordinate with IT and SWIFT support teams in case of technical or connectivity issues.
Nostro Reconciliation & Settlement Controls
- Review and monitor international payment settlements.
- Ensure transactions are correctly reflected in relevant nostro accounts and internal records.
- Review reconciliation exceptions and investigate outstanding or unmatched transactions.
- Ensure timely resolution of nostro discrepancies.
- Monitor returned payments, unapplied funds, and outstanding settlement items.
Operational Risk & Internal Controls
- Ensure strict compliance with the bank's operational policies and authorization procedures.
- Maintain proper segregation of duties between transaction initiation and authorization.
- Ensure authorization limits and delegated approval authorities are followed.
- Prevent unauthorized, duplicate, incomplete, or erroneous payment processing.
- Maintain complete audit trails and transaction authorization records.
- Identify process weaknesses and recommend improvements to strengthen operational controls.
Reporting, Audit & Coordination
- Review daily SWIFT transaction reports and exception reports.
- Monitor transaction volumes, pending payments, and rejected messages.
- Provide required documentation and explanations during internal and external audits.
- Ensure timely resolution of audit observations.
- Coordinate with Compliance, Treasury, Trade Operations, IT, Finance, and other relevant departments.
- Support implementation of SWIFT ISO 20022 and CBPR+ standards.
Qualification & Experience
- Bachelor's degree in Finance, Banking, Accounting, Business Administration, or a related discipline.
- 3–5 years of relevant banking operations experience preferred.
- Previous experience in SWIFT operations, international remittances, or payment authorization is desirable.
- Practical knowledge of SWIFT MT and ISO 20022 MX messages.
- Understanding of SBP regulatory requirements, correspondent banking, and international payment practices.
How to Apply
Interested candidates can submit their CV directly using the quick apply option. Candidates can also review openings on the official UBL - United Bank Limited website.
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Assistant Manager Swift Operations
Job Description and Requirements
About the Role:
To ensure accurate, secure, and timely authorization and release of incoming and outgoing SWIFT messages and international payment transactions. The SWIFT Operations Authorizer is responsible for independently reviewing transactions initiated by makers, validating supporting documentation, ensuring compliance with regulatory requirements and internal policies, and maintaining effective operational controls to minimize financial, regulatory, and operational risks.
Job Responsibilities:
SWIFT Transaction Authorization
- Independently review and authorize outgoing SWIFT messages before transmission.
- Verify SWIFT MT and MX messages, including MT103, MT202, MT202 COV, MT199, pacs.008 and pacs.009, as applicable.
- Validate beneficiary name, account number, IBAN, bank details, SWIFT/BIC codes, currency, amount, and payment instructions.
- Verify that transactions are supported by appropriate approvals and supporting documentation.
- Reject or return transactions containing discrepancies, incomplete information, or unauthorized instructions.
Compliance & Regulatory Verification
- Ensure compliance with applicable State Bank of Pakistan (SBP) regulations, AML/CFT requirements, and internal compliance policies.
- Review sanctions screening results and ensure flagged transactions are appropriately escalated and cleared by authorized compliance personnel.
- Ensure transactions comply with applicable regulatory requirements and internal approval limits.
- Identify unusual, suspicious, or high-risk payment transactions and escalate them to the relevant departments.
- Ensure appropriate due diligence is performed before authorizing international payments.
Payment Validation & Risk Management
- Review high-value, sensitive, and exceptional transactions with additional scrutiny.
- Validate exchange rates, charges, value dates, and correspondent banking instructions, where applicable.
- Ensure transactions are not duplicated and that payment instructions are properly authenticated.
- Identify potential operational errors, fraudulent instructions, and irregular payment activities.
- Ensure appropriate controls are applied to amendments, cancellations, recalls, and returned payments.
- Escalate unusual transactions and operational risks to management.
SWIFT Message Monitoring
- Monitor SWIFT message transmission status and acknowledgement responses.
- Review ACK and NAK messages and ensure timely resolution of rejected messages.
- Ensure authorized transactions are successfully transmitted to the intended beneficiary or correspondent bank.
- Monitor pending, rejected, and failed transactions and ensure appropriate follow-up.
- Coordinate with IT and SWIFT support teams in case of technical or connectivity issues.
Nostro Reconciliation & Settlement Controls
- Review and monitor international payment settlements.
- Ensure transactions are correctly reflected in relevant nostro accounts and internal records.
- Review reconciliation exceptions and investigate outstanding or unmatched transactions.
- Ensure timely resolution of nostro discrepancies.
- Monitor returned payments, unapplied funds, and outstanding settlement items.
Operational Risk & Internal Controls
- Ensure strict compliance with the bank's operational policies and authorization procedures.
- Maintain proper segregation of duties between transaction initiation and authorization.
- Ensure authorization limits and delegated approval authorities are followed.
- Prevent unauthorized, duplicate, incomplete, or erroneous payment processing.
- Maintain complete audit trails and transaction authorization records.
- Identify process weaknesses and recommend improvements to strengthen operational controls.
Reporting, Audit & Coordination
- Review daily SWIFT transaction reports and exception reports.
- Monitor transaction volumes, pending payments, and rejected messages.
- Provide required documentation and explanations during internal and external audits.
- Ensure timely resolution of audit observations.
- Coordinate with Compliance, Treasury, Trade Operations, IT, Finance, and other relevant departments.
- Support implementation of SWIFT ISO 20022 and CBPR+ standards.
Qualification & Experience
- Bachelor's degree in Finance, Banking, Accounting, Business Administration, or a related discipline.
- 3–5 years of relevant banking operations experience preferred.
- Previous experience in SWIFT operations, international remittances, or payment authorization is desirable.
- Practical knowledge of SWIFT MT and ISO 20022 MX messages.
- Understanding of SBP regulatory requirements, correspondent banking, and international payment practices.
