Assistant Manager-LC Import, Export & Settlements

Job Purpose:

• Responsible for overseeing the daily operations of the letter of credit settlements, ensuring compliance with policies and procedures by managing settlements, enhancing workflow efficiency, and providing exceptional customer support, ultimately contributing to the bank’s success in Trade Finance.

Generic Responsibilities:

• Corporate Governance and Compliance: Work fully within risk policies and procedures and compliance regulations and ensure all divisional activities comply with corporate governance & regulatory/legal frameworks.
• Policies & Processes: Develop and implement relevant policies and procedures and conduct regular reviews to remain relevant and effective.
• Risk Management: Work alongside Risk Management in ensuring that the function works fully within the set frameworks, proactively monitor and report on risk exposure in order to enhance control effectiveness.
• Compliance: Work fully within ABK’s Compliance regulations and standards.
• People management: Manage, motivate & develop employees and the team in line with ABK people policies & practices.

Core Responsibilities:

• Letter of Credit Settlements: Oversee the daily operations and performance of the Trade Finance letter of credit settlements, ensuring tasks are executed accurately and on time. Provide guidance and support to promote a high-performing team environment.
• Progress Reporting: Regularly update management on progress against deadlines and compliance with policies and procedures. Ensure transparency and accountability.
• Compliance Management: Maintain strict compliance with all Trade Finance policies, procedures, and regulations. Foster a culture of adherence within the team.
• Settlements Management:

1. Manage the settlements of Letters of Credit and Collections:
2. Ensure timely and accurate processing of payments.
3. Guarantee all due bills are paid punctually.
4. Process clean documents for sight bills upon receipt of complete documentation.
5. Facilitate payment for discrepant documents upon obtaining client agreement and necessary approvals.
6. Process incoming payments promptly upon receipt of funds or at maturity dates.
7. Communicate all required notifications to clients and banks following transactions.

• Customer Support: Address inquiries from customers, correspondents, and beneficiaries. Provide clear and accurate information. Clarify ambiguities to ensure understanding and satisfaction.
• Cross-Functional Collaboration: Collaborate with Corporate, International Banking, and Legal Divisions to facilitate approvals, manage limits, and oversee advising and confirmations.
• Workflow Optimization: Propose and implement strategies to enhance workflow efficiency, increase productivity, and improve customer service. Provide training and develop contingency plans to ensure operational continuity.
• Product Management: Plan, organize, and manage Trade Finance products within authorized credit lines to achieve targeted income, production schedules, and quality standards while minimizing costs.
• Application Oversight: Review, approve, amend, and correct application forms to ensure compliance with all governing laws and ICC regulations.

Education:

• Bachelor’s degree in Finance, Business Administration, or a related field.
• A Master’s degree or relevant professional certification (e.g., Certified Trade Finance Professional) is a plus.

Knowledge:

• Strong knowledge of Trade Finance products, policies, procedures, and regulations

Experience & Skills:

• 5 years of experience Trade Finance operations.
• Excellent communication and interpersonal skills.
• Ability to lead and develop a team.
• Problem-solving and process improvement skills.
• Proficient in relevant banking systems and applications.