15 Oct
CER Financial
City of London
Job description
Job Description
Trade Finance Officer
City of London / Hybrid
Permanent
£48,000
cer Financial are working alongside a bank who are based in the City of London. They are seeking a Trade Finance Officer to work with them on a permanent basis.
The role is within the Trade Finance Department and may be interchangeably responsible for processing, initiation, document checking or the settlement stage of trade finance operations products.
The Responsibilities of a Trade Finance Officer Will Include :
- Carrying out Trade Finance Compliance and due diligence checks and reference made to Red Flags, in accordance with procedures.
- Processing transactions timely and accurately and within agreed SLAs
- Liaising with Issuing banks, beneficiaries, correspondents, business development, treasury, credit, compliance on transactions.
- Initiating all types of LCs (Export / Import / Back-to-Back)
- Processing Amendments to LCs
- Processing IRUs, assignment of proceeds
- Processing Guarantees and Standby LCs
- Keep abreast of developments in Trade Finance including but not limited to ICC rules Money Laundering / Financial Crime when related to Trade Finance Products
- Register Documents received under LCs.
- Scan documents presented and saved to electronic file.
- Carry out Compliance and due diligence checks on parties and Vessel.
- 1st or 2nd Check documents as required against LC terms.
- Liaise with presenter regarding any discrepancies.
- Contact issuing Bank requesting authority to pay and / or send documents on approval diarizing to chase for authority to pay.
- Review instructions received for workability and liaised with customers regarding requirements if unclear.
- Handle documents on Collection (inward / Outward)
- Process Payments under Export / Import LCs, IRU claims, Collection
- Process Acceptance or Deferred payment under Usance LCs diarizing any items for future payments.
- Raise instructions to Loans Agency for LCs being refinanced.
- Maintain Electronic version of file on departmental S drive.
- Investigate and respond to any enquiries received (internal / external)
- Identify and investigate potential red flags taking into consideration Compliance requirements / AML / Sanctions and escalating / obtaining approvals where required.
The Successful Trade Finance Officer Will Have :
- A degree in Business, Banking, Finance, Economics, or a related discipline is preferable CDCS is highly desirable.
- Strong Trade Finance technical knowledge understanding and interpretation.
- Must have a minimum of 2 years’ experience in Banking / Financial Services in the Operations / Trade Finance area.
- Good knowledge of all Trade Finance products and ability to process independently Import and export LCs, back-to-back LCs, transferable LCs, discounts, IRUs, assignment of proceeds, collections, availed bills, guarantees, SBLCs, collections, open accounts, LC settlements, and Documents Checking
- Good knowledge of all ICC Rules. Uniform Rules for collection (URC 522),
latest version of UCP 600 and ISBP for the examination of documents, Uniform Rules for bank-to-bank reimbursement URR 725, URDG and ISP and how a guarantee / SBLC could / should be structured.
▶️ Trade Finance Officer
🖊️ CER Financial
📍 City of London