I&M Bank is seeking a qualified Associate Trade Finance to join their team in Nairobi. The role involves processing trade finance instruments, performing compliance checks, serving internal and external client needs, and maintaining strict audit standards across trade operations.
Key Responsibilities
Processing of Trade Finance Instruments (60%)
Review instructions received to ensure they are valid, workable, and meet the bank’s and international trade guidelines. Where required, liaise with customers to guide and seek clarity in order to obtain a complete application.
Carry out trade finance compliance and due diligence checks in accordance with procedures (e.g., type of goods, countries involved) and escalate to line manager where required.
Liaise with Relationship Managers, Credit Administration, Legal Department, and Treasury as required to facilitate processing of transactions (seeking approvals, marking limits in the system, legal opinion of guarantee wordings, bank indemnities, etc.).
Draft, initiate, and amend all types of Letters of Credit (Export, Import, back-to-back, etc.), liaising with customers regarding wording, terms, and conditions.
Draft, initiate, and amend all types of guarantees (Bid Bonds, Performance, Payment, etc.) and Standby Letters of Credit.
Receive, process documents for, and release to clients all documentary collections (Import, Export, Avalization).
Receive outward foreign cheques, sort, perform compliance checks, and dispatch to correspondent banks for payment; confirm and pay inward foreign cheques; process and dispatch unpaid cheques.
Receive customer confirmations and process Supply Chain Finance instructions (discounting and/or distributor finance).
Lodge and accept bills (Collection and LC), relaying acceptance to correspondent banks.
Pay bills on due date or as customers submit instructions, in liaison with Business Development and Treasury as required.
Customer Care (30%)
Act as point of reference for enquiries and provide trade finance advice to external clients, and internally to bank staff as required.
Correspond with counterparty banks – initiation and response to correspondent bank queries.
Confirm guarantees issued to external parties (e.g., Government bodies and large corporates).
Prepare reports of outstanding liabilities and share with internal and external customers as called for.
Audit and Compliance (10%)
Monitor Nostro statements for reconciliation and accounting for and/or clearing any outstanding trade-related items.
Identify potential red flags taking into consideration compliance requirements/AML/sanctions and escalate to line manager where required. Advise line manager of all Risk & Control Self-Assessment (RCSA).
Report risk events within timeframes outlined in procedures.
Ensure safe keeping of client shipping documents in fireproof cabinets.
Follow up with customers for duly executed Bills of Exchange and indemnities for safekeeping as legal documents.
Perform weekly review of Outstanding Liabilities and provide timely notification to relevant stakeholders (Customers, Business Development, Credit).
Formally notify customers and/or correspondent banks of overdue payments, and close bills within set timelines.
Print and call back daily journals.
How to Apply
Interested and qualified candidates should apply online through the I&M Bank portal via I&M Bank Application Link.
