Associate Trade Finance at I&M Bank

Roles & 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. 
• Carrying out trade finance compliance and due diligence checks in accordance with procedures e.g. Type of goods, countries involved and where required escalate to the line manager 
• Liaising with Relationship managers, Credit administration, Legal department and Treasury as required to facilitate processing of the transactions. This includes seeking approvals, marking limits in the system, legal opinion of guarantee wordings, bank indemnities etc. 
• Drafting, initiation and amendment of all types of Letters of credit (Export, Import, back-to-back etc.). This involves liaising with customers with regards to wording, terms and conditions. 
• Drafting, initiation and amendment of all types of guarantees (Bid Bonds, Performance, Payment etc) and Standby Letters of Credit. 
• Receiving, document processing, release to clients of all documentary collections (Import, Export, Avalization). 
• Receiving of outward foreign cheques, sorting, compliance checks, dispatch to correspondent banks for payment; confirmation and payment of inward foreign cheques; processing and dispatch of unpaid cheques. 
• Receiving customer confirmation and processing of Supply Chain Finance instructions (discounting and/or distributor finance). This applies for bills discounting outside Supply chain finance. 
• Lodging & acceptance of bills (Collection and LC), and relaying acceptance to correspondent Banks. 
• Payment of bills on due date or as customers submit instructions, in liaison with Business development and Treasury as may be 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 and when required. 
• Correspondence with counter party Banks – Initiation and response to correspondent bank queries. 
• Confirmation of guarantees issued to external parties i.e. Government bodies and large corporates.
• Preparation of reports of outstanding liabilities and sharing with Internal and external customers as and when called for. 

Audit and compliance (10%) 

• Monitoring Nostro statements for reconciliation and accounting for and/or clearing any outstanding trade related items. 
• Identify any potential red flags taking into consideration compliance requirements/AML/sanctions and escalating to line manager where required. Advise line manager of all Risk & Control Self-Assessment (RCSA) 
• Reporting any risk events within timeframes outlined in the procedure. 
• Safe keeping of client shipping documents in fireproof cabinets. 
• Follow up with customers for duly executed Bills of Exchange and indemnities for safekeeping as these are considered legal documents. 
• Weekly review of Outstanding Liabilities and timely notification to the relevant stakeholders e, g. Customers, Business Development, Credit. 
• Formally notifying customers and/or correspondent banks of overdue payments; and closure of bills within the set timelines. 
• Printing and call back of daily journals.