City of London, London
£35000 - £40000 per annum
about 1 year ago
Our client, a prestigious International Bank based in the heart of the City are looking to hire a Trade Services Clerk to join their Institutional Banking department. In this position, the incumbent will perform tasks relating to import and export initiation and settlement business, including L/Cs, Clean and Documentary Collections, Bank Guarantees, trade finance business. AML System checking and assessment on trade transactions.
Main responsibilities will include;
- All aspects of import transactions including: L/C issuance, L/C acceptances, collections such as D/P, D/A, etc., scan document and send to BPC for their checking under import L/Cs, effecting payment under L/Cs, D/P, D/A, etc., bank guarantees / standby L/Cs and import finance.
- All aspects of export transactions including: L/C advising; L/C confirmation, scan documents and send to BPC for their checking against export L/C negotiation, L/C reimbursement and collections under D/P, D/A, etc. Double check the contents of delivery documents before mailing.
- Trade related finance solutions such as packing loans, factoring, bills discounting, forfaiting and funded or un-funded risk participation.
- Calculate accurately the fees and interests for the relevant transactions.
- Liaise correspondence in connection with documentary import and export letters of credit for customers of the Bank in line with agreed procedures with BPC.
- Collate and check documents which have been processed by BPC to ensure Compliant with letters of credit terms and conditions.
- Proficient checking of payments with appropriate knowledge of Swift rules after being made by BPC.
- Timely following up of irregularities with customers and BPC.
- Liaise with clients on matters relating to L/C transactions together with BPC.
- Assist Head of Institutional Banking in carrying out various trade finance related statistical reports for Management and Head Office.
- Funds positioning.
- Carrying out periodical accounting reconciliation internally with Credit Administration, Corporate Banking and Financial Control departments and externally with BPC.
- Make proper registrations to the business as required by the procedure.
- Assist Head of Institutional Banking to monitor the progress of the transaction processing.
- Suggest the upgrading of the working procedure.
- Filing and archiving.
- All the CDD and AML checking in trade services and other products lines as required by the Bank's policy.
- Keep all AML check evidences for audit trail purpose. Must report / escalate to MLRO for potential positive hit or suspicious transactions in accordance to the Bank's AML policy.
- Other tasks as directed by the Head of Institutional Banking.
To be considered for this position, ideal candidates must have previous Trade Services/Finance experience and be familiar with UCP600 rules.