The Role

To provide professional and operational support in the processing and workflow management of letters of credit, guarantees, and trade loan transactions, ensuring all transactions are conducted in line with the applicable ICC rules (UCP, URDG, etc.), and in conformity with the banks policies and procedures and are processed in a timely manner, adopting a zero tolerance for processing errors.

• Conduct a thorough due diligence on all transactions to avoid the risk of money laundering and fraud.
• Provide a supervisory function as well as a processing function within a small team
• Support the Head of Trade Finance in all aspects of trade finance operations
• Management or supervisory experience within a Trade Finance department

Responsibilities

• Manage the end to end transaction process flow ensuring all transactions are processed accurately and within agreed timescales
• Check for and register Swift messages relating to Trade Finance transactions and assign work as appropriate
• Monitor daily shared calendar to ensure all tasks which have been diarised are completed/followed up
• Process/check export letters of credit received (Swift MT700) ensuring workability and handle correspondence where changes are necessary
• First/Second check documents presented under letters of credit with complete accuracy
• Process/check and verify Swift messages, including advising letters of credit, payment orders and correspondence
• Ensure all Departmental registers are maintained and kept up to date
• Process/check issuance of bank guarantees (bid and performance bonds, and demand/payment guarantees)
• Process/check Promissory Note discounting/secondary market forfeiting/risk participation transactions
• Liaise with customers regarding discrepancies and provide technical guidance on LC’s where required
• Supervise processing staff ensuring work is correctly prioritised and processed in timely manner
• Assist in completion of FI credit line proposals/reviews, as well as completing the customer due diligence checking process
• Assist with production of monthly/quarterly/annual management information reports for business and income analysis
• Support the Head of Trade Finance in meeting all the objectives of the department
• Provide cover for the Head of Trade Finance during holidays or other absence
• Ensure that customer due diligence and anti money laundering checks have been completed on all transactions in accordance with the Bank’s anti money laundering and compliance policies

Experience Required

• Thorough knowledge of Uniform Customs and Practice for Documentary Credits, including experience of dealing with Letters of Assignment and Transferable Credits
• Ability to make a thorough check of documents presented under letters of credit to identify discrepancies or verify compliance with a letter of credits terms and conditions
• Must be confident in dealing directly with beneficiaries and other banks in discussing discrepancies, or assisting beneficiaries with technical terms and possess a good telephone manner
• Good understanding of Risk Participation Agreements and Trade Loan Agreements and operational experience in these areas
• Thorough understanding of international payments, acceptances, and discounting under documentary letters of credit
• Experience of dealing with bank guarantees – performance and bid bonds and demand guarantees
• Good level of proficiency in use of Swift for generating electronic messages (particularly messages in the 700series as well as 103 for customer and 202 for bank-to-bank payments), and also in using Excel and Microsoft Word for processing and generating reports and transaction media
• Awareness/experience of managing credit limits, and ability to complete proposals/reviews for new/existing bank lines
• Awareness of anti-money laundering regulation and experience in completing customer and transactional due diligence
• Extensive experience of working in a trade finance area of an international bank having covered all aspects of trade finance operations, including handling trade loans to FI’s and Risk Participation.

What we offer:

• Competitive salary and Employee benefits package

• A great work environment in a Central London location

• The opportunity to learn, progress and enhance your skills
• Private healthcare
• Pension