Trade Finance / Letters of Credit Specialist

Recruiter
Insight Professional Solutions Ltd
Location
United Kingdom
Salary
£45,000 - £60,000
Posted
05 Oct 2017
Closes
07 Nov 2017
Sector
Accountancy
Contract Type
Contract
Hours
Full Time
Job Purpose: The Credit Operations Specialist role will be part of the Credit Operations team within the London Credit Risk Team. The main responsibilities of the Credit Operations team cover the daily exposure reporting requirements and collateral management activities in support of the oil, gas and power trading areas. Reporting Relationships: Reports to: Credit Operations Manager Job Dimensions: The responsibilities of the post holder will include all aspects of import and export letters of credit (both documentary and standby) including, but not limited to, ensuring all letters of credit are received in a timely fashion, issued by an approved bank within Treasury approved limits and in an acceptable format. In addition the incumbent will be responsible for the timely presentation of documents to the bank for payment. It will also include the issuance of letters of credit to cover our purchases of crude, products, gas and power. Accountabilities: - Reviewing import documentary and standby letters of credit to ensure they cover the deal in question and do not put the business in any adverse financial position. - Collating, reviewing and presentation of relevant documents under documentary letters of credit to the banks for payment. - Monitoring receipt of funds and chasing bank for any unpaid items as and when required. - Liaising with Operators/Financial Operators in all Letter of credit related matters. - Liaising with Traders on non-vanilla type letters of credit - Coordinating with traders & operators on West African Letters of Credit. - Arranging the issue of letters of credit to cover the business' imports and dealing with the resultant claims and payment process - Discounting receivables - liaising with Strategic Credit and Treasury to ensure that deals with extended payment terms are discounted and checking that bank charges for this service are correct. - Ensuring Bank LC issuance facility limits are adhered to at all times when requesting banks to issues instruments to cover our purchases - Recording of instances where issues have arisen that result in either discrepant or late presentation of documents under export letters of credit - Daily system and filing management - Covering for other team members during sickness/holiday periods Experience: The role requires a full understanding and working knowledge of letters of credit. An experience of having been in an LC environment for 18/24 months is advantageous. The successful candidate may be required to manage any combination of the above accountabilities depending on the team's needs and workflow.
This job was originally posted as www.jobsite.co.uk/job/959257874