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Head of Trade Finance

  • Location

    London, England

  • Sector:

    Operations & Middle Office

  • Job type:

    Contract

  • Salary:

    Up to £50000.00 per annum

  • Contact:

    Ronnie McClughen

  • Job ref:

    BBBH13443_1541603452

  • Published:

    9 days ago

  • Duration:

    6-9 months

  • Startdate:

    ASAP

Our client, an International Bank with a stellar reputation, are looking for a Head of Trade Finance. This position will be for 6-9 months and will be cover for someone on maternity leave.

The responsibilities for the position are as follows:

TRADE FINANCE

  • Activity and performance of Trade Finance Department, encompassing LCs (export / import, back to back, transferable, standby) collections, guarantees, bill discounting, trade secondary participations, commodity deals and associated financing, and Funds Transfers for Correspondent Banks and customers of the Bank.

  • Input and agreement to revenue targets for TF Department, with responsibility to deliver. Report progress to BPR meetings.

  • Ensure that TF products, systems, procedures, controls and checks, reporting methodologies are up to date and appropriate to the business needs of the bank.

  • Ensure timely identification of point of service failures and implementation of corrective measures

  • Regular review and improvement of existing operational process flows to meet market demand and regulatory guidelines.

  • Act as expert point of reference and provide specialist TF advice externally to corporate and bank customers and internally to Banks personnel

  • Provide direction to staff and will be responsible for ensuring appropriate resourcing, development, training and appraisal to improve processing skills and to develop staff

  • Evaluation of transactional dynamics to identify and mitigate risks, in support of business development opportunities.

  • Ambassador for the bank through being a member of BCA, AFB and ICC, attending appropriate conferences and events associated with Trade Finance.

  • Assessing the training and development needs of the department and proposing training where appropriate.

FUNDS TRANSFER

  • Ensure the expeditious processing of transactions accurately and in line with set service standards, policies, procedures and regulatory requirements

  • Clearing of outstanding reconciliation items and dealing with enquiries.

  • Maintain complete, accurate and reliable records of transactions and a clear audit trail to ensure compliance with all bank's operational policies and procedures

  • Strict compliance with controls, capacity management and performance optimisation

  • Ensure awareness and alertness to money laundering risks and adherence to set anti-money laundering procedures

  • Strong liaison with the Compliance department, ensuring implementation of compliance policies and procedures and proactively alerting compliance issues

  • Ensure timely identification of point of service failures and the implementation of corrective measures

  • Liaise with other business units to ensure efficient service delivery.

  • Ensure prompt reconciliation and proofing of all ledger accounts and efficient resolution of long-standing reconciliation items.

  • Adopting a zero tolerance for processing errors and ensuring that all errors are identified and addressed same day.

  • Assessing the training and development needs of the department and proposing training where appropriate.

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