Trade Finance Officer

cer Financial; London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading company in the financial sector is seeking a Trade Finance Officer to join their team in London. The role entails managing trade finance operations, ensuring compliance, and processing transactions related to LCs and other financial instruments. The ideal candidate should have a background in finance with strong knowledge of ICC rules and a minimum of 2 years' experience in Trade Finance activities.

Qualifications

• Minimum of 2 years’ experience in Banking/Financial Services within Operations/Trade Finance.
• Good knowledge of ICC Rules including URC 522, UCP 600, ISBP.
• Ability to process Trade Finance products independently.

Responsibilities

• Carry out Trade Finance compliance and due diligence checks.
• Process amendments to LCs and guarantees.
• Liaise with banks and compliance departments.

Skills

Technical knowledge in Trade Finance

Interpretation skills

Education

Degree in Business, Banking, Finance, Economics

CDCS certification

Job description

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cer Financial is working alongside a bank based in the City of London. They are seeking a Trade Finance Officer to work with them on a permanent basis.

The role is within the Trade Finance Department and may involve responsibilities such as processing, initiation, document checking, or the settlement stage of trade finance operations products.

Responsibilities of a Trade Finance Officer include:

• Carrying out Trade Finance compliance and due diligence checks, referencing Red Flags, in accordance with procedures.
• Processing transactions accurately and within agreed SLAs.
• Liaising with issuing banks, beneficiaries, correspondents, business development, treasury, credit, and compliance departments regarding transactions.
• Initiating all types of LCs (Export/Import/Back-to-Back).
• Processing amendments to LCs.
• Processing IRUs and assignment of proceeds.
• Processing guarantees and standby LCs.
• Keeping abreast of developments in Trade Finance, including ICC rules and AML/Financial Crime related to Trade Finance products.
• Registering documents received under LCs.
• Scanning and saving documents electronically.
• Conducting compliance and due diligence checks on parties and vessels.
• Performing 1st or 2nd document checks against LC terms.
• Liaising with presenters regarding discrepancies.
• Requesting authority to pay from issuing banks and diarizing follow-ups.
• Reviewing instructions for workability and clarifying requirements with customers.
• Handling documents on collection (inward/outward).
• Processing payments under export/import LCs, IRU claims, and collections.
• Processing acceptance or deferred payments under usance LCs and diarizing future payments.
• Raising instructions to Loans Agency for refinancing LCs.
• Maintaining electronic files on the departmental S drive.
• Responding to internal and external enquiries.
• Investigating potential red flags, considering compliance, AML, sanctions, and escalating where necessary.

Qualifications and Skills for a Successful Candidate:

• A degree in Business, Banking, Finance, Economics, or a related discipline is preferable; CDCS certification is highly desirable.
• Strong technical knowledge and interpretation skills in Trade Finance.
• Minimum of 2 years’ experience in Banking/Financial Services within Operations/Trade Finance.
• Good knowledge of all Trade Finance products and the ability to process them independently, including import/export LCs, back-to-back LCs, transferable LCs, discounts, IRUs, assignment of proceeds, collections, availed bills, guarantees, SBLCs, open accounts, LC settlements, and document checking.
• Good knowledge of ICC Rules, including URC 522, UCP 600, ISBP, URR 725, URDG, ISP, and structuring guarantees/SBLCs.