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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 that drives global trade and finance.
- Qualifications: CDCS qualification and strong attention to detail in documentation.
- Other info: Fast-paced role with opportunities for growth in the finance sector.
The predicted salary is between 36000 - 60000 £ per year.
We are inviting applications for a Trade Finance Officer strong in documentation checking and 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.
Trade Finance Officer _ Documentations in City of 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
✨Tip Number 1
Network like a pro! Reach out to people in the trade finance sector, attend industry events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can refer you directly.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of ICC rules and trade finance operations. We recommend practising common interview questions and scenarios related to document checking and settlements to show you're ready for the role.
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your career goals. Use our website to find roles that match your skills in trade finance, and tailor your approach to each application to stand out.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way in keeping you top of mind. It shows your enthusiasm for the role and gives you another chance to highlight your fit for the position.
We think you need these skills to ace Trade Finance Officer _ Documentations in City of 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 any relevant qualifications like CDCS. We want to see how your skills match what we’re looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about trade finance and how your background makes you a great fit for our team. Keep it concise but engaging – we love a good story!
Showcase Relevant Experience: When filling out your application, be sure to showcase any specific experience you have with processing Letters of Credit or handling compliance checks. We’re keen on seeing how you’ve tackled similar tasks in the past!
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. Plus, it’s super easy – just follow the prompts and you’ll be all set!
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 terms like Letters of Credit, IRUs, and the relevant ICC rules. This will not only help you answer questions confidently but also show your genuine interest in the role.
✨Prepare for Scenario-Based Questions
Expect to be asked about specific scenarios related to document checking and compliance. Think of examples from your past experience where you successfully handled discrepancies or complex transactions. This will demonstrate your problem-solving skills and ability to work under pressure.
✨Showcase Your Attention to Detail
In trade finance, accuracy is key. Be ready to discuss how you ensure precision in your work, whether it’s through double-checking documents or adhering to SLAs. You might even want to mention any tools or methods you use to maintain high standards in your documentation processes.
✨Ask Insightful Questions
At the end of the interview, don’t shy away from asking questions. Inquire about the team dynamics, the challenges they face in trade finance, or how they stay updated with ICC regulations. This shows that you’re not just interested in the job, but also in contributing positively to the team.
