Associate, Trade Finance

Key Responsibilities

Processing of Trade Finance Instruments (60%)

• Instruction Review: Review instructions to ensure they are valid, workable, and meet Bank and International Trade guidelines. Liaise with customers to obtain complete applications.
• Compliance Checks: Carry out due diligence checks on goods and countries, escalating issues to the line manager as needed.
• Internal Liaison: Work with Relationship Managers, Credit Administration, Legal, and Treasury to facilitate approvals, limit marking, and legal reviews.
• Document Drafting: Draft, initiate, and amend Letters of Credit (Export, Import, Back-to-Back) and various Guarantees (Bid Bonds, Performance, Payment).
• Transaction Handling: Manage documentary collections, foreign cheque processing, and Supply Chain Finance instructions.
• Bill Management: Lodge and accept Bills (Collection and LC) and manage payments on due dates.

Customer Care (30%)

• Technical Advice: Serve as a point of reference for trade finance enquiries for both external clients and internal staff.
• Correspondent Banking: Handle correspondence and queries from counterparty banks.
• Guarantee Confirmation: Confirm guarantees issued to external parties, including government bodies and large corporates like Safaricom and Vivo.
• Reporting: Prepare reports on outstanding liabilities for internal and external customers.

Audit and Compliance (10%)

• Reconciliation: Monitor Nostro Statements and clear outstanding trade-related items.
• Risk Mitigation: Identify potential red flags (AML/Sanctions) and report risk events within set timeframes.
• Safekeeping: Maintain fireproof cabinets for shipping documents and legal instruments like Bills of Exchange.
• Stakeholder Notification: Notify customers and correspondent banks of overdue payments and closure of bills.
• Quality Control: Print and perform call-backs of daily journals.

Requirements and Qualifications

Academic Qualifications:

• A bachelor’s degree in a Business-related field from a recognized institution.

Professional Qualifications:

• Any trade-related professional qualification or certification is highly desirable.

Work Experience:

• At least 1-3 years’ relevant professional experience and a proven track record in processing trade products.

Key Competencies:

• Ability to write professional letters and reports.
• Strong numerical and calculation skills.

Skills and Attributes:

• Integrity and high risk awareness.
• Strong analytical skills and attention to detail.
• Planning and organizational skills.
• Ability to work under minimal supervision.
• Basic knowledge of trade rules (UCP, ISP, ISBP, URDG, URR, etc.).
• Understanding of sanctions lists (UN, EU, Domestic).

How to Apply

Interested and qualified? Go to I&M Bank on imbank.bamboohr.com to apply online.