• Application Deadline: Wed, 31 Aug 2022 00:00:00 GMT
• Position: Trade Finance Executive


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 5 years


• Location Lagos


• Job Field Finance / Accounting / Audit 
  

Grade Level: Senior

Job Objective / Purpose of Job

• To manage the daily operation of Trade Finance/International trade in accordance with local extant policies and Trade-related international standards and best practices to suit the needs of the organization.

Reporting Relationships:

• Other Relationships: Account, Procurement, Banks, Financial Regulatory Agencies and other functional


• (Internal & External): Units.

Responsibilities

• 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’ enquiries 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.

Qualifications

• Candidates should possess a Bachelor's Degree qualification.


• 5 years work experience.

Behavioural:

• Attention to details


• Great Interpersonal skills


• Relationship management


• Professionalism & Poise


• Good working ethics


• Good oral and written communication skills

Working Condition:

• Normal office environment.