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Trade Finance Officer
- Posted 29 June 2020
- Salary £35000 - £40000 per annum
- Location
- Job type Permanent
- Discipline Banking Operations
- ReferenceSDGTTF01_1593437316
- Contact NameScott Duerden
Job description
Our client, an international bank based in London, are looking to recruit a Trade Finance Officer to work on a fixed term contract. As a team member reporting directly to the Team Leader, Trade Finance, you will be responsible for your assigned role which includes the following responsibilities;
- Document Checking - Advised and Confirmed Letters of Credit, Issued Letters of Credit, Back to Back Letters of Credit, Transferred Letter of Credit, Guarantees and Bonds and Bills for Collections
- Substitution of documents on Back to Back LCs and Transferable LCs
- Discrepancy handling
- Advise of rejection to (Beneficiary, Presenting Bank and Issuing Bank) o Record Acceptance on the system and advice beneficiary of maturity date
- Chasers to Issuing banks on Documents forwarded on approval basis
- Daily review of related reports
- Ensure appropriate internal ledger entries passed
- Arrange courier of documents to issuing or confirming bank
- Ensure archiving of all documents and complete documentation on file
- Respond to queries and enquiries from beneficiaries or issuing banks
- Review of past due Collections
- Produce required MIS on work area
To be considered for this position, ideal candidates must have the following experience and skills;
- Degree or equivalent plus relevant experience in Trade Finance operations
- Experienced back office professional with strong analytical skills and a proven track record in the financial services industry, preferably a commercial bank
- Must have an understanding of the International Trade operations framework of a financial institution and knowledge of general operational policies
- Specific experience in the checking of shipping documents on Documentary Credits and associated activities
- Good experience of SWIFT and relevant message types
- General experience of Pay/Receive operations, local and foreign settlements, Documentary Collections and Funds transfers
- Excellent customer service skills
- Ability to identify, analyse and manage operational risks
- Good understanding of Compliance requirements, including Know Your Customer, Anti Money Laundering and Treating Customers Fairly
- Adaptable and flexible
- Independent and innovative.