Trade Finance Specialist

Key Responsibilities:

Import Operations:

1. L/C Issuance and Management:

   • Review the import and procurement schedule to plan the issuance of Letters of Credit (L/C) after verifying the limits with banks.
   • Obtain quotes and negotiate extended credit terms for imports with foreign banks.
   • Prepare L/C drafts and secure approvals from the beneficiaries.
   • Issue L/Cs through the respective banks in line with the approved drafts, collect SWIFT copies, and verify associated charges.
   • Forward L/C copies to beneficiaries with Documentary Instructions, and follow up with the confirming/negotiating bank for L/C advisories and amendments, if required.

2. Document Follow-Up and Payment:

   • Ensure prompt acceptance and payment of documents submitted by beneficiaries per L/C terms.
   • Release documents from the L/C issuing bank and update the final due date while checking the interest schedule.
   • Monitor account balances to meet L/C liabilities on due dates and manage foreign exchange bookings to release margins.

3. Compliance and Coordination:

   • Track the Bill of Entry to ensure it is updated in the Import Data Processing and Monitoring System (IDPMS) to avoid caution listings.
   • Coordinate with Purchase, Logistics, and EXIM departments to provide updated import information and schedules.
   • Update and circulate import arrival details to relevant departments and staff.

Export Operations:

4. Export L/C and Document Management:

   • Regularly follow up with the export department to secure advance payments, approve draft L/Cs, and collect documents.
   • Negotiate with banks to add confirmation and discount L/Cs.
   • Review and scrutinize export L/Cs and collection documents before submission to the bank.

5. Document Dispatch and Follow-Up:

   • Review draft L/Cs and suggest amendments to prevent discrepancies.
   • Track export documents dispatched from the bank to correspondent banks using courier details.
   • Follow up with banks daily for updates on export collections received.

6. Documentation and Compliance:

   • Prepare necessary documents and forward them to banks for export proceeds credit.
   • Monitor Shipping Bills to ensure they are updated in the Export Data Processing and Monitoring System (EDPMS) to avoid caution listings.
   • Manage the Export Bill Realization Certificate (EBRC) process to ensure export licenses are closed on time.

Other Responsibilities:

7. Outward Remittances and Banking Relations:

   • Prepare documents for outward remittances.
   • Maintain healthy and professional relationships with banks and other financial institutions.

8. Internal Coordination and Support:

   • Resolve internal queries related to finance by providing proof and advice for credits and debits in bank statements.
   • Assist senior management in preparing communications (letters/emails) with banks and external agencies.
   • Handle additional responsibilities as assigned by management.

9. Compliance Systems:

   • Manage and update records in EDPMS and IDPMS as required.

Qualifications:

• Education: Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
• Experience: Minimum of 3-5 years of experience in trade finance, import/export operations, or related roles in a corporate environment.
• Skills:
  • Strong knowledge of Letters of Credit (L/C), international trade regulations, and banking practices.
  • Excellent negotiation skills and ability to liaise with banks and external stakeholders.
  • Proficiency in using trade finance systems like EDPMS and IDPMS.
  • Detail-oriented with strong organizational and communication skills.
  • Ability to work under pressure and manage multiple tasks effectively.

Preferred Qualifications:

• Experience in the manufacturing or export/import industry.
• Familiarity with foreign exchange management and remittance processes.
• Professional certifications in trade finance (e.g., CITF, CTFP) are a plus.

Working Conditions:

• Job Type: Full-time
• Travel: Occasional travel may be required.