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Trade Finance Operations Officer

  • Location

    London, England

  • Sector:

    Operations & Middle Office

  • Job type:

    Permanent

  • Salary:

    Up to £35000 per annum

  • Contact:

    Bethany Singer

  • Job ref:

    bs456_1543339452

  • Published:

    16 days ago

Prestigious International Bank based in the City, are looking to recruit a Trade Finance Operations Officer, to provide service and support functions within the Trade Finance Operations Department (Operations/Middle Office) by ensuring that activities supporting Trade Finance transaction processing are provided to internal and external customers within suitable turnaround times and acceptable risk and compliance parameters.

Main responsibilities will include;

  • Analysis of Letters of Credit 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 calculations and rate fixing processes.
  • Perform checks, applying a risk based approach, on all parties to transactions including internet searches and Accuity checks and understand when potential hits need to be escalated.
  • Processing letters of credit (issuance/advising/amendment/utilisation/maintenance/cancellation)
  • Handling Documents presented under letters of credit (checking/handling discrepancies etc)
  • Discounting letters of credit
  • Processing guarantees (issuance/advising/amendment/utilisation/maintenance/cancellation)
  • Processing receivables financing transactions
  • Handling documentary collections
  • Processing payments under Collections/Discounts/Letters of Credit
  • Production of all related work, including operating Excel/Word
  • Claiming and chasing payment of commission
  • Maintaining diary system
  • Reconciling liabilities
  • Reconciling commission receivables accounts
  • Producing various EOQ and EOY reports
  • Support collation of facility documentation
  • Support KYC tasks in respect of Trade Finance clients.

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

  • Vast experience working in an Operational area handling Trade Finance transactions.
  • Good knowledge of Uniform Customs and Practice for Documentary Credits and International Standard Banking Practice.
  • Good understanding of Uniform Rules for Demand Guarantees and how a guarantee should be structured
  • 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.

Essential:

  • A strong knowledge of all trade products (Guarantees / LC's / Receivables Finance etc.) and all aspects of international trade operations.
  • Basic selling skills to leverage customer contacts to identify referral opportunities to the sales team.
  • Excellent time management skills.
  • A good understanding of FAB's trade network operations and systems.
  • Excellent communication and interpersonal skills.
  • Well-developed organisational and planning skills.
  • Good problem solving and analytical skills.
  • Sound judgement, particularly in relation to identifying risks and problem resolution.

Preferred:

  • Competence in risk management.
  • Clear understanding of risks posed within Trade Finance products
  • Trade Qualifications (e.g. CDCS / CSDG / URDG Masters)

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