adminAlan & Grant – Our work is focused on creating innovative HR and Organizational Development Solutions aimed at Performance Improvement & Business Growth. We currently serve clients across various sectors of the Economy from locations in Jos, Port Harcourt and Lagos.
We are recruiting to fill the position below:
Job Title: Trade Finance Executive
Location: Lagos
Job Type: Full time
Industry: Manufacturing
Job Description
- e-Form ‘M Coordination: – Registration, validation, amendment, cancellation, extension and substitution for Letters of Credit, Bills for Collection and Not Valid for Forex e-Form ‘M’
- Thorough engagement with banks on letters of credit from the point of initiation to conclusion
- Responsible for monitoring other mode of payments such as bills for collection and Not-Valid-for -Forex until fund is confirmed received by the beneficiary.
- Review of pre- and post-negotiation interest charges on letters of credits against unscrupulous debits and recover excess charges if any.
- Review transaction charges such as LC commission, bills for collection commission, swift charges, amendment charges etc.
- Review all trade documentation to ensure completeness and compliance
- Manage interactions with banks on trade-related transactions.
- Prompt resolution of trade issues such as delayed transaction processing, problematic transactions, rejections and fast-tracking release of shipping document for consignment clearance at the port.
- Periodic review of banks’ current account statements with respect to trade transactions and recoup excess charges if any.
- Reconcile account statements such as Collateral, advance payment guarantee, fixed deposits, domiciliary and other designated accounts. All appropriate entries are also passed.
- Reconcile the company’s overseas accounts including our accounts with overseas subsidiaries and advises the CFO on the activities flow.
- Communicate with overseas suppliers concerning international standards and best practices in accordance with International Chambers of Commerce (ICC) and statutory local regulations.
- Manage overseas suppliers’ inquiries regarding trade finance.
- Coordinate reconciliation of overseas suppliers’ accounts to ensure receipt of items paid for.
- Maintains letters of credit register to ensure all established Letters of credit transactions are completed within its validity period and reconciles outstanding shipments, excess shipments, shortfalls in payment, shortfall and/or excess foreign exchange allocations.
- Periodic report on all trade finance related obligations for internal use.
- Keep records of all bank loan obligations and the respective repayments schedule. Also passes appropriate entries in accordance with the repayment and interest schedules.
- Relates with the procurement unit on the overseas purchase needs and proffers required financing guide.
- Keep updates of new regulations from all relevant regulators.
- Liaise with relevant authorities such as Nigeria Customs Service, Central Bank of Nigeria etc. on trade-related issues and approvals.
- Keep records of the company’s investment portfolio such as capital importation, treasury bills and advises on the appropriate derivatives contract to be booked.
- Review import finance facilities from the banks and advise the CFO appropriately for management approval.
- Management of consignments insurance with the respective insurance firms.
- Manage the trade finance team.
- Other responsibilities as may be assigned by the CFO.
Requirements
- Undergraduate Degree with a focus on Business, Economics, Finance / Accounting
- 5+ years of relevant banking experience and/or Trade Finance experience
Application Closing Date
Not Specified.
Method of Application
Interested and qualified candidates should:
Click here to apply online
admin
Odeha
