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Trade Finance Manager

  • Location

    City of London, London

  • Sector:

    Operations & Middle Office

  • Job type:

    Contract

  • Salary:

    £300 - £400 per day

  • Contact:

    Scott Duerden

  • Job ref:

    SDTFFA01_1599048264

  • Published:

    26 days ago

  • Duration:

    6 Months

  • Startdate:

    ASAP

Our client, a prestigious International Bank based in the City of London are looking to hire a Trade Finance Manager on an initial 6 month contract. Main purpose of the role, will be to provide service and support functions within the Trade Finance Operations Department (TFO) by performing activities supporting Trade Finance transaction processing, including but not limited to: Documentary Credits; Documentary Collections; Standby Letters of Credit; Bonds and Guarantees; Discounting of Bills of Exchange, on behalf of internal and external customers, within suitable turnaround times and acceptable risk and compliance parameters.

Main responsibilities of the Trade Finance Manager will also include;

  • Monitoring the performance of TFO through the performance reporting system & KPIs and taking corrective actions wherever necessary
  • Assessing the progress made by TFO to ensure the team is working towards achieving a common goal for the organization
  • Analyse Letters of Credit (LCs), Standby Letters of Credit (SBLCs) and Guarantees to determine workability, ensuring that all ambiguities/contradictions are addressed and all potential risks concerning the wordings are raised and either accepted by the business or mitigated by revision
  • Assist with creation of documentation required for Receivable Financing (Invoice discounting) and with the rate application and calculations
  • Perform due diligence checks, applying a risk based approach and understand when and how to escalate
  • Process all aspects of Trade Finance products (LCs/SBLCs/Guarantees/Collections/Receivable Financing) including : issuing/advising/amending/utilising/cancelling/doc checking/handling discrepancies/processing payments/claiming and chasing commissions
  • Input transactions into all relevant systems
  • Reconcile liabilities commission receivables accounts
  • Support collation of facility documentation
  • Support KYC tasks in respect of Trade Finance clients
  • Monitoring exposure/limit utilisation Assist with Balance Sheet substantiation of all Trade Finance accounts, provide a monthly report to Finance Department with proof of reconciliation, control of exceptions and action plan for resolution if required
  • Provide guidance and training to junior members of staff
  • Provide cover for Head of CIB Operations.
  • Process all transactions in accordance with FAB policies and procedures, and any other applicable governing rules such as UCP, URDG
  • Provide technical and operational input in respect of processing Trade Finance Transactions
  • Checking and releasing of transactions in line with Policies and Procedures
  • 1st / 2nd Signatory for Trade Finance transactions

To be considered for this position, ideal candidates must have the following experience and skills;

  • A good understanding of all Trade Finance products (Guarantees / SBLCs / LCs / Receivables Finance etc.) and all aspects of international trade operations
  • Good understanding of the latest version of UCP and ISBP for the examination of documents
  • Good understanding of the latest version of URDG and ISP and how a guarantee/SBLC could/should be structured
  • Clear understanding of risks posed within Trade Finance products
  • Good understanding of requirements in respect of Compliance/AML/Sanctions. The ability to pick up and investigate potential red-flags, review for potential dual use goods and escalate/obtain approvals where required
  • Trade Qualifications (e.g. CDCS / CSDG / URDG Masters
  • Good understanding/ability to operate the following systems: CREDOC/Intellect/SWIFT Alliance/TI +/T24

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