Job description
Job Title: Trade Finance Officer
Position Overview:
The Trade Finance Officer will play a pivotal role in managing the company’s export trade finance operations, ensuring timely and accurate processing of transactions in line with international trade finance procedures. This role requires proficiency in handling Letter of Credit (LC) transactions, export document management, and strong liaising with banks and customers. The ideal candidate should have a strong understanding of UPSC (Uniform Customs and Practice for Documentary Credits) terms and extensive experience in international trade finance.
Key Responsibilities:
- Letter of Credit (LC) Management:
- Open, review, and scrutinize export Letters of Credit (LC) for compliance with agreed terms.
- Coordinate with customers to request amendments to LCs if necessary.
- Prepare export documents according to the LC terms and conditions.
- Discount export bills and availed drafts.
- Manage LC discounting procedures.
- Export Documentation:
- Scrutinize export documents including invoices, packing lists, Certificates of Origin (COO), Certificates of Analysis (COA), and other relevant trade documents.
- Request corrections or clarifications if any discrepancies or issues are identified.
- Maintain and ensure accuracy in the export documentation process.
- Export Collections and Payments:
- Present export collection documents to the bank under payment terms such as CAD (Cash Against Documents), D/P (Documents Against Payment), DA (Documents Against Acceptance), and availed Drafts.
- Follow up with banks on the payment status of submitted export documents.
- Process the Telex Release of Bills of Lading (B/L).
- Manage the dispatch of export documents via courier to customers under different payment terms:
- For open credit terms.
- Against scanned copies of documents after receipt of payment.
- International Trade Finance & Compliance:
- Ensure compliance with international trade finance procedures, including the Uniform Customs and Practice for Documentary Credits (UPSC).
- Monitor and manage trade finance transactions to ensure they adhere to company policies, regulatory requirements, and global trade regulations.
- Bank Liaison and Follow-ups:
- Act as the primary point of contact with banks for export collections, payment inquiries, and document handling.
- Follow up on the collection of Export LCs and payment processing to ensure timely settlement.
- Record Maintenance & Reporting:
- Maintain accurate records and documentation for all trade finance activities.
- Ensure that all trade finance records are well-organized, complete, and available for audit or compliance checks.
7. LBD Issuance and Setup
- Review trade contracts and agreements to determine the necessity and terms for issuing an LBD.
- Coordinate with the client (either importer or exporter) to gather necessary documentation.
- Work with the bank to initiate and finalize the process of issuing an LBD, ensuring that the terms of the blocked deposit are clearly outlined (e.g., deposit amount, conditions for release, timelines).
Qualifications & Skills:
- Bachelor's/Master’s degree in Finance, Business Administration, or a related field.
- Minimum of [8] years of experience in international trade finance, preferably within the petrochemical, manufacturing, or related industry.
- Strong understanding of UPSC (Uniform Customs and Practice for Documentary Credits) and international trade terms.
- In-depth knowledge of export documentation, including but not limited to invoices, packing lists, COO, COA, and Bill of Lading.
- Experience in managing export collections and payment terms (e.g., CAD, D/P, DA, LC).
- Proficiency in handling LC opening, LC discounting, and document preparation as per the LC terms.
- Familiarity with trade finance operations and regulations.
- Strong communication skills and the ability to liaise effectively with banks, customers, and internal teams.
- Excellent organizational skills and keen attention to detail.
Job Type: Full-time
Pay: AED4,000.00 - AED5,000.00 per month
Job Type: Full-time
Pay: AED4,000.00 - AED5,000.00 per month