Role Summary

The role requires a thorough understanding of ICC Uniform Customs and Practice for Documentary Credits, Incoterms, International Standard Banking Practice and other related regulations to ensure compliance and mitigate risks associated with international trade transactions.

The Trade Finance Officer is responsible for the issuance, advising, documents examination, discounting and settlement of documentary letters of credit within the expected time frame.

Description:

The incumbent is required to:

• Review customer applications and LCs received to ensure they are valid, workable, and meet ICC UCP and Bank’s policies and procedures.
• Identify discrepancies and fraud risks in the documents and transactions. Take appropriate actions to mitigate risks in accordance with bank policies and international trade practices.
• Ensure all trade transactions comply with internal policies, international trade regulations, anti-money laundering (AML) standards, and Know Your Customer (KYC) procedures.
• Ensure consistency of customer’s application and letter of credit against the department’s screening standards, existing financial crime controls and regulatory benchmarks.
• Coordinate with customers, issuing banks, advising banks, and other stakeholders to clarify, negotiate, and resolve discrepancies or issues related to documents and LC transactions.
• Protect the Bank from Money Laundering, Financial Crime and Terrorist Financing by following department manual and procedures.
• Prepare and submit reports on document checking activities, discrepancies identified.
• Investigate and respond to any enquiries received internally or externally.
• Scan and save documents electronically at the time of initiation and at all stages of the transactions.
• Accountable for the accuracy of final product and that it has been completed within established Service Level standards.
• Co-operate with and assist other members of Team with the completion of the day’s work and any other tasks that could be associated with this role.
• Stay updated with the changes in trade finance regulations, UCP 600, ISBP, and other relevant guidelines.
• Participate in training and professional development.

Skills and Competencies

• The ability to work on own initiative, be pro-active and take full responsibility to ensure role requirements are met.
• Clear understanding of operational risks and mitigation.
• Ability to work under pressure and meet tight deadlines.
• Analytical and problem-solving skills sufficient to analyse problems.
• Excellent written and verbal communication skills with a high level of numeracy, literacy, accuracy and attention to details.
• Effective communication and interpersonal skills.
• Proven team-player and ability to pro-actively engage with team members.
• Adaptable – comfortable with and responsive to change.
• Persistent – follows tasks through to conclusion.

Knowledge

• Strong knowledge of UCP 600, ISBP, and international trade practices.
• CDCS preferred or agree to undertake within a year

• Clear understanding of trade-based money laundering and red flag activities to escalate when necessary.

Experience

• Experience of working in the financial services industry.
• Minimum 3 years’ experience of working in Trade Finance Operations, particularly in LC issuance, advising and documents examination.

Qualifications

• College degree in finance, international business or relevant industry experience
• Professional Industry qualification (CDCS) preferred or agree to undertake within a year.

IT skills

• Overall knowledge of Microsoft Office (Excel, Word and Outlook).
• Knowledge of using Sanction, PEP and adverse media screening tools/software.
• Knowledge of using trade finance processing systems.