Salary: £58,000 - £68,000
Manage the Trade Finance Middle Office function and provide Specialist Documentation skills, Customer Service and Trade Finance Expertise (Internal and External Customers), acting as a bridge between Front and Back Offices to ensure a seamless flow and delivery of Trade Services Business for London Branch
Leading international bank is seeking a Trade Middle Office Manager to take a lead role with this new divisional setup for the bank. You will oversee and supervise the Trade Finance Middle Office function and provide Specialist Documentation skills, Customer Service and Trade Finance Expertise (Internal and External Customers), acting as a bridge between Front and Back Offices to ensure a seamless flow and delivery of Trade Services Business for London Branch. Exposure to Energy products an advantage
- Review of Trade Finance facilities ensuring CP’s are complete and ready for drawdown.
- Preparing/sign off transactions for processing by TFO
- Collation of facility documentation
- Undertake KYC tasks in respect of Trade Finance clients, including involvement in the account opening process.
- Preparation of credit applications
- Monitoring exposure/limit utilisation
- Reporting of statistics, limits, utilisation through the necessary channels
- Analysis of Letters of Credit received and Requests to Issue Letters of Credit received from our Clients to determine workability. Challenge any contradictory clauses.
- Analysis of Guarantees including full wording reviews. Ensuring that all ambiguities/contradictions are addressed and all potential risks concerning the wordings are raised and either accepted by the business or mitigated by revision. Thorough understanding of claim mechanisms, open and evergreen clauses, pay or extend and cancellation procedures.
- Creation of Documentation required for both the Receivable Financing (Oil discounting) and Forfaiting transactions, together with the calculations and rate fixing processes.
- Perform checks on all parties to transactions including internet searches and Accuity checks and understand when potential hits need to be escalated.
Skills and experience
- In excess of 5 years experience working in an Operational area handling Trade Finance transactions together with previous Middle Office experience.
- Strong inter-personal skills and previous supervisory experience
- Excellent communication, organization and presentation skills
- Software skills including Excel, Word and Powerpoint.
- Advanced knowledge of Uniform Customs and Practice for Documentary Credits and International Standard Banking Practice.
- Advanced understanding of Uniform Rules for Demand Guarantees and how a guarantee should be structured
- Thorough understanding of requirements in respect of Compliance/AML/Sanctions. The ability to pick up and investigate potential red-flags. Review for potential dual use goods and have a full understanding of the Bank’s military goods policy.