Our client, a large international bank, are recruiting a Trade Finance Documentary Credits Coordinator to join their busy Trade Services Operations department in the heart of the City.
Reporting to the Manager of Trade Services, you will be responsible for ensuring that all aspects of the documentary credit process across all the banks offices are handled in line with agreed SLA’s.
Main Responsibilities of the Documentary Credits Coordinator:
- Process all aspects of advising New L/C’s including seeking FI approval, checking workability of L/C’s and ensuring required SLA’s are met.
- Process amendments as required.
- Ensures that documents under letters of credit are first checked
- Ensures that any discrepancies in the documents presented are referred to the customer/beneficiary/presenting bank
- Effects payments/acceptances under letters of credit and deals with the disposal of the documents
- Effects payments under letter of credit reimbursement authorities.
- Responds promptly to all payment related queries and enquiries
- Other duties; including processing Import L/C’s and Documentary Collections for both import and export
Risk & Regulatory Duties
- Maintain knowledge of all applicable regulatory requirements including the Bank’s Risk and Compliance policies and procedures and adhere to these.
- Report policy, procedure and/or regulatory breaches or suspicions to Manager or Head of Trade Services.
- Accurately execute all controls within own area to minimise risk of policy, procedure, and/or regulatory breaches.
- Identify any new risks/control gaps within own area and escalate accordingly to your Line Manager and/or Head of Trade Services.
- Act as the “First Line of Defence”.
- Responsible for the accurate execution of Financial Crime Prevention controls in accordance with the Bank’s and Departmental policies and procedures.
- Ensure Due Diligence/Enhanced Due Diligence (EDD) is carried out, where applicable, on all parties to the Trade transactions and maintain appropriate records
- Be vigilant to unusual or suspicious transactions and report any suspicions to the MLRO.
- Ensure adherence to the Bank’s AML, Financial Crime and Anti-Terrorism policies and procedures.
Skills and experience required of the Documentary Credits Coordinator:
- Documentary credits experience from a bank
- PC skills, including Excel, Word, spreadsheets and database applications.
- Previous Eximbills experience an advantage but not essential