A new opportunity in the Trade Finance Department has arose in our organization. You will join a well-established and very busy team, who plays an important role in assisting Traders and other departments in the smooth issuance of Letters of Credit.
This position will provide you with a great opportunity to show your initiative, take responsibility for all dealings with bank and other institutions and ensuring work is done on time. A lot of learning will be provided and friendly atmosphere across the entire company.
Key Responsibilities:
• Compiling and Preparing all relevant documents for the opening, negotiation and confirmation of Letters of Credit and Trust Receipts
• Coordinating with Financial Institutions on all matters relating to Trade Finance – like releasing L/C payment, amendments to L/C’s, cancellations to name few
• Ensuring timely issuance of L/C’s and Trust receipts to counter parties by working closely with local and international banks and also follow-up with clients for timely receipt of L/C’s, Payment undertakings etc.
• Coordinating with operations and shipping department to monitor vessel movements and make sure that all shipping documents like B/L’s, Quality and Quantity Certificate are received in a timely manner and demur rage occurs
• Liaising with Traders on regular basis and planning ahead on regular basis all Trade Finance activities to ensure smooth execution of deals and no delays under any circumstances
• Reviewing contracts and deal recap to ensure that payment terms from clients and suppliers are within the framework of available facilities and credit policies of the company
• Working with Collateral management agents for timely issue of warehouse receipts and ensure refinancing of inventory by banks when required for cash management purposes
• Effectively negotiating with Banks and Financial institution on margin requirements, interest and other charges
Required experience and knowledge:
• A degree in Finance or Commerce with at least 3 years relevant experience in Commodity Trading Company (ideally Oil Trading)
• Prior experience in working with international banks and also regional GCC banks either as a client of these banks or as an existing employee
• Good understanding of best in class Trade Finance practices and relevant UCP regulations
The ideal candidate will:
• Have excellent spoken and written English
• Take full responsibility for all tasks and its completion, show initiatives, will be driven to have all work done, on time, with no delays
• A very confident communicator, who will be pushy and demanding when required
• Be a good team player who is also able to work independently
• Be a problem solver with an ability to think quickly in order to make required improvements
• Possess a keen analytical mind with willingness to learn and develop further
• Be computer literate – good working knowledge of accounting software and Trade Finance software, MS office etc.,
You must be based in UAE and be ready to start a new position ASAP. No oversees candidates will be considered.
We offer a competitive salary.