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- Tasks: Process and check trade finance documents, ensuring compliance and accuracy.
- Company: Join a leading financial institution with a focus on trade finance.
- Benefits: Competitive salary, career development opportunities, and a supportive work environment.
- Why this job: Be part of a dynamic team shaping the future of global trade finance.
- Qualifications: Degree in Business or Finance; CDCS qualification preferred.
- Other info: Gain valuable experience in a fast-paced, evolving industry.
The predicted salary is between 36000 - 60000 £ per year.
We are inviting applications for a Trade Finance Officer strong in documentation checking and for settlements documents and CDCS qualified. The role is within the Trade Finance Department and may be interchangeably responsible for processing, initiation, document checking or the settlement stage of trade finance operations products. The role will be processing Letters of Credit (Back to Back, transferrable etc.); IRUs; amendments; assignment of proceeds; LC settlements; discounts; acceptances; documents on approval; collections; IRU claims; Guarantees; SBLC; loan tickets; file maintenance.
Processing all transactions are in accordance with FBNUK Trade Finance, i-flex and SWIFT procedures; relevant ICC (UCP 600) (ISBP) (URC) (URR)(ISP) (URDG) INCOTERMS.
Primary Responsibilities of Role:
- The job holder will be processing trade finance operations transactions within the required service level agreements (SLAs) and to the required standards.
- Review instructions received to ensure they are valid, workable, and meet ICC and FBNUK guidelines and procedures.
- Carrying out Trade Finance Compliance and due diligence checks and reference made to Red Flags, in accordance with procedures.
- Processing transactions timely and accurately and within agreed SLAs.
- Liaising with Issuing banks, beneficiaries, correspondents, business development, treasury, credit, compliance on transactions.
- Initiating all types of LCs (Export /Import / Back to Back).
- Processing Amendments to LCs.
- Processing IRUs, assignment of proceeds.
- Processing Guarantees and Standby LCs.
- Creating MT700, 710, 799, 999 as required.
- Investigate and respond to any enquiries received (internal / external).
- Prepare reports as and when required.
- Close expired / fully utilized LCs and refund any cash cover remaining.
- Create Electronic File at the time of Initiation.
- Scanning of all transactions processed to FBNL.
- Completing EOD Expired LCs keep abreast of developments in Trade Finance including but not limited to ICC rules Money Laundering/Financial Crime when related to Trade Finance Products.
SETTLEMENTS/DOCUMENTS:
- Register Documents received under LCs.
- Scan documents presented and save to electronic file.
- Carry out Compliance and due diligence checks on parties and Vessel.
- 1st or 2nd Check documents as required against LC terms.
- Liaise with presenter regarding any discrepancies.
- Contact issuing Bank requesting authority to pay and/or send documents on approval diarizing to chase for authority to pay.
- Review instructions received for workability and liaise with customers regarding requirements.
- Handle documents on Collection (inward / Outward).
- Process Payments under Export/Import LCs, IRU claims, Collection Process Acceptance or Deferred payment under Usance LCs diarizing any items for future payments.
- Raise instructions to Loans Agency for LCs being refinanced.
- Close expired / fully utilized LCs and refund of any cash cover remaining.
- Prepare documentation for dispatch by mail and courier.
- Maintain department archive register.
- Maintain Electronic version of file on departmental S drive.
- Investigate and respond to any enquiries received (internal/external).
COMPLIANCE:
- Identify and investigate potential red flags taking into consideration Compliance requirements/AML/Sanctions and escalating/obtaining approvals where required.
General Duties:
- Where required, provide support to colleagues across the Trade Finance function.
- Ensure that risks incidents are reported as per policies and procedure to the Operational Risk Function of the Bank.
- Ensure that customer queries and enquiries are handled in accordance with the internal policies and procedures.
- Suggest and implement improvements and enhancements to the current processes, systems, and workflows.
- Contribute to the improvements of internal systems, processes, and procedures.
- Share knowledge and skill with others.
- Keep abreast of the development and advancements in the Trade Finance area.
- Other related duties as required.
Professional/Academic Qualifications:
- A degree in Business, Banking, Finance, Economics or a related discipline is preferable.
- CDCS is highly desirable.
Experience/Knowledge:
- Strong analytical reasoning skills.
- Strong attention to detail.
- Strong Trade Finance technical knowledge understanding and interpretation.
Locations
Trade Finance Officer _ Documentations in City of London, London employer: Quantum Group
Contact Detail:
Quantum Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Trade Finance Officer _ Documentations in City of London, London
✨Tip Number 1
Network like a pro! Reach out to folks in the trade finance sector on LinkedIn or at industry events. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream job.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of ICC rules and trade finance products. We want you to be able to discuss your experience with LCs and compliance checks confidently. Show them you’re the expert they need!
✨Tip Number 3
Don’t forget to follow up after interviews! A quick thank-you email can go a long way. It shows your enthusiasm for the role and keeps you fresh in their minds. We love seeing candidates who take that extra step!
✨Tip Number 4
Apply through our website for the best chance at landing the job. We’ve got all the latest openings and applying directly shows you’re serious about joining our team. Let’s get you started on this exciting journey!
We think you need these skills to ace Trade Finance Officer _ Documentations in City of London, London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Trade Finance Officer role. Highlight your experience with documentation checking and settlements, and don’t forget to mention your CDCS qualification if you have it!
Show Off Your Skills: In your cover letter, showcase your strong analytical reasoning skills and attention to detail. We want to see how you can apply these skills in processing trade finance operations and ensuring compliance.
Be Clear and Concise: When filling out your application, keep your language clear and concise. Use bullet points where possible to make it easy for us to see your relevant experience and qualifications at a glance.
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. We can’t wait to hear from you!
How to prepare for a job interview at Quantum Group
✨Know Your Trade Finance Inside Out
Make sure you brush up on your knowledge of trade finance operations, especially documentation checking and settlements. Familiarise yourself with key terms like Letters of Credit, IRUs, and ICC rules. This will not only help you answer questions confidently but also show your genuine interest in the role.
✨Prepare for Compliance Questions
Given the importance of compliance in this role, be ready to discuss how you would handle potential red flags and due diligence checks. Think of examples from your past experience where you successfully navigated compliance issues, as this will demonstrate your analytical reasoning skills.
✨Showcase Your Attention to Detail
In trade finance, accuracy is crucial. Prepare to share specific instances where your attention to detail made a difference in your work. Whether it was catching a discrepancy in documents or ensuring compliance with SLAs, these examples will highlight your suitability for the role.
✨Ask Insightful Questions
At the end of the interview, don’t forget to ask questions that show your enthusiasm for the position. Inquire about the team dynamics, ongoing projects, or how the company stays updated with changes in trade finance regulations. This shows you’re not just interested in the job, but also in contributing to the company's success.
