Salary: £65,000 - £75,000
Greater London based banking organisation is seeking a newly created Head of Trade Finance opportunity to join the business and take ownership of the below duties and a team of 5 staff;
- Being the primary contact for various business units within the bank and overseas offices, providing technical expertise and guidance on best practice relating to Trade Finance issues.
- Management of trade finance portfolio of correspondent commercial and central banks
- Reviewing overseas contracts for supply of products and advising on related trade finance issues
- Drafting and issuing Letters of Credits and Guarantees, standby LCs, LoIs (Letters of indemnity) under procurement and service contracts.
- Reviewing capacity, utilisation and monitoring of correspondent bank and country limits.
- Submission of credit appraisal forms to the Bank’s Credit Committee in respect of new correspondent relationships
- Application and knowledge of regulatory AML and KYC due diligence processes in respect of client on-boarding
- Drafting trade finance facility documentation and primary liaison with the Bank’s legal counsel
- Testing of trade finance IT systems and staff training
- Responsible for drafting the department’s operational and technical manual
- Setting client and product tariffs and working to budgetary targets
- Regular overseas visits to sub-Saharan African and East Caribbean central and commercial banks in respect of business development and maintaining client relationships
- Regular attendance at UK and bi-annual international meetings of the ICC, and attendance at other relevant global trade finance seminars
- Staff recruitment, appraisals, SMART target setting, preparation training for staff for examinations (CDCS, CITF)
- Panel “A” signatory
- Membership to EXCO, Business Development team, and ALCO
- Reporting directly to the MD
Eligible candidates will have;
- Strong technical skills in all major trade finance products, including Letters of Indemnities (LoIs), Standby LCs, Transferable LCs, Back-to-Back LCs, Commercial LCs, and Demand guarantees, Discounting, Refinancing, Risk-Participations, etc.
- Fully conversant with UCP600, URDG458/758, ISP98, ISBP745, URC522, URR725, INCOTERMS 2010
- Delivering presentations and short courses on Documentary Credits & Guarantees for internal staff and external correspondent banks
- Fully conversant with Microsoft Office systems and general trade finance systems such as Trade Innovations, Eximbills, and others
- Fully conversant with SWIFT Alliance and all MT 7 series message