• Doha Bank Jobs in Kuwait | Trade Finance Assistant

    Doha Bank Jobs in Kuwait | Trade Finance Assistant

    Location: Kuwait
    Published:

    Job Description

    The incumbent will assist the Assistant Manager – Trade Finance in timely processing of the LG, LC and Bills for Collection transactions in accordance with bank and regulatory guidelines. The incumbent will be responsible for the checking the correctness of applications received, end to end correspondence preparation support throughout the process, and timely dispatch of original/amended documents to the customers. The job holder will act as the custodian of all records to comply with audit/ procedural standards.


    Duties and Responsibilities

    Your main responsibilities in this role include the following:

    • OPERATIONAL

    • Perform all operational activities as assigned by the Assistant Manager – TFD, in compliance with local regulations, and approved TF policies and procedures.

    • Receive and check the duly filled LG/LC application forms and inward/outward collection documents from customers/corresponding banks (as applicable) for correctness of details against the terms and conditions.

    • Ensure that the clauses stated in the applications/covering letter doesn’t conflict with the regulatory guidelines related to Letter of Credit/Guarantee.

    • Initiate the lodging process by inputting necessary data onto the system along with commission/ charges, as applicable, in line with the request raised by the customer/corresponding bank and regulatory guidelines.

    • Prepare the LC/LG documents as per the prescribed format for approval from the relevant authorities.

    • Receive applicant’s instructions on prescribed form, generate transaction application and liaise with the RMs to obtain necessary approvals from the approving authority for initiating amendments.

    • Prepare amendment instructions, and related SWIFT messages/mail confirmation, compute charges and dispatch copy of the amended/ extended LG advices to the customer/ beneficiaries’/correspondent of beneficiary with receipt of due acknowledgement, as applicable.

    • Liaise /follow up with the applicants and/ or beneficiaries on matters related to the extension/amendments/expiry of LG’s, as applicable.

    • Generate transaction application with a view to ascertain the financial position of the customer, as applicable to ensure fund availability.

    • Coordinate with the respective stakeholders to obtain necessary approvals from the sanctioning authority (credit committee) if the customer position is not within the limit set by the management and/or for irregularities, if any.

    • Initiate the processing of applications by inputting LC data into the system along with commission/ charges, as applicable, post approval from the relevant authorities.

    • Prepare request letters addressed to the insurance companies on behalf of customers for insuring letters of credit, in line with terms and conditions of the trade.

    • Prepare amendment instructions, and related SWIFT messages/mail confirmation, and compute the charges related to commission, and liability, as directed by the Senior LC Officer.

    • Receive trade applications from customers and check for correctness of details including customer’s signature and supporting documents.

    • Perform periodical follow up with customers with regards to the shipment of stale items.

    • Notify the remitting bank/customer on account of any missing documents/ discrepancies, if any, found in the service requests.

    • Prepare and provide currency position details to the Treasury department, facilitating to identify funding requirement.

    • Prepare payment instructions and confirmations to the remitting bank, in line with the descriptions in the schedule.

    • Send periodic reminders to/ follow up with the drawees on account of dishonor of bills within the prescribed time limit post-issuing of the advice.

    • Prepare, verify and send SWIFT messages addressed to or reply to the foreign banks on queries received

    • Process and follow up on claims (guarantees) without delay as per procedure.


    Job Requirements

    • University graduate with a degree in Business or Banking or Finance or Economics or any other related discipline.

    • Master’s degree in Management or any other related discipline will be an added advantage.

    • 2-5 years of total experience in financial services/banking industry, entailing responsibilities pertaining to the specific area of discipline.

    • Experience in Trade Finance operations/ processing.

    • Local experience desirable.

    • Certification in related area would be preferable

    Job Details

    Company: Doha Bank

    Employment Type: Full-time

    Job Location: Kuwait City, Kuwait

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