I&M Bank is hiring an Associate Trade Finance to facilitate trade operations, process import and export documentation, and manage trade financing solutions for clients.
Roles & Responsibilities
Processing
of Trade Finance Instruments (60%)
- Review instructions received to ensure they are valid, workable and
meet the bank’s and international trade guidelines. Where required, liaise
with customers to guide and seek clarity in order to obtain a complete
application.
- Carrying out trade finance compliance and due diligence checks in
accordance with procedures e.g. Type of goods, countries involved and
where required escalate to the line manager
- Liaising with Relationship managers, Credit administration, Legal
department and Treasury as required to facilitate processing of the
transactions. This includes seeking approvals, marking limits in the
system, legal opinion of guarantee wordings, bank indemnities etc.
- Drafting, initiation and amendment of all types of Letters of credit
(Export, Import, back-to-back etc.). This involves liaising with customers
with regards to wording, terms and conditions.
- Drafting, initiation and amendment of all types of guarantees (Bid
Bonds, Performance, Payment etc) and Standby Letters of Credit.
- Receiving, document processing, release to clients of all
documentary collections (Import, Export, Avalization).
- Receiving of outward foreign cheques, sorting, compliance checks,
dispatch to correspondent banks for payment; confirmation and payment of
inward foreign cheques; processing and dispatch of unpaid cheques.
- Receiving customer confirmation and processing of Supply Chain
Finance instructions (discounting and/or distributor finance). This
applies for bills discounting outside Supply chain finance.
- Lodging & acceptance of bills (Collection and LC), and relaying
acceptance to correspondent Banks.
- Payment of bills on due date or as customers submit instructions, in
liaison with Business development and Treasury as may be required.
Customer
care (30%)
- Act as point of reference for enquiries and provide trade finance
advice to external clients, and internally to bank staff as and when
required.
- Correspondence with counter party Banks – Initiation and response to
correspondent bank queries.
- Confirmation of guarantees issued to external parties i.e.
Government bodies and large corporates.
- Preparation of reports of outstanding liabilities and sharing with
Internal and external customers as and when called for.
Audit
and compliance (10%)
- Monitoring Nostro statements for reconciliation and accounting for
and/or clearing any outstanding trade related items.
- Identify any potential red flags taking into consideration
compliance requirements/AML/sanctions and escalating to line manager where
required. Advise line manager of all Risk & Control Self-Assessment
(RCSA)
- Reporting any risk events within timeframes outlined in the
procedure.
- Safe keeping of client shipping documents in fireproof
cabinets.
- Follow up with customers for duly executed Bills of Exchange and
indemnities for safekeeping as these are considered legal documents.
- Weekly review of Outstanding Liabilities and timely notification to
the relevant stakeholders e, g. Customers, Business Development,
Credit.
- Formally notifying customers and/or correspondent banks of overdue
payments; and closure of bills within the set timelines.
- Printing and call back of daily journals.
How to Apply
