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Senior Trade Finance Specialist - £60,000+

If you are interested in this candidate, please contact Charlie Watson via email cwatson@cerfinancial.co.uk or call on 0207 626 6065.

0290393

PROFILE:

Senior Trade Finance professional with over 35 years of experience in international banking and commodity trade finance, supporting global corporate and commodity clients. Expert in all aspects of documentary trade finance, including import and export Letters of Credit, Standby Letters of Credit, Guarantees, risk participations and document examination. Strong background in operational risk management, regulatory compliance, AML/CDD controls and the application of ICC trade finance rules. Proven ability to manage complex transactions, enhance operational efficiency, lead and develop teams, and build strong client relationships. Trusted as a senior technical specialist and control point for high-value transactions, delivering accuracy, risk mitigation and outstanding client service in fast-paced international environments.

CAREER HISTORY:

September 2012 – Present (being made redundant due to offshoring of trade finance team)

International Bank

Trade Finance Officer

  • Supported clients through offering a range of Trade Finance related services to Commodity clients with a first-class level of service and provided superior service level agreements.
  • Conducted all aspects of Import and Export Letters of Credit - including opening, amending, checking documentary presentations, paying and the resolution of any queries.
  • Co-ordinated Assignments and Back-to-Back Letters of credit.
  • Accurately recorded exposures related to Funded and Unfunded risk participations.
  • Issued Documentary Letters of Credit, Standby Letters of Credit and Guarantees.
  • Improved accuracy by resolving high value payment and receivable issues through investigation and collaboration.
  • Shortened turnaround times by creating and developing a working spreadsheet for each individual client to manage data and information.
  • Developed and led junior members, guiding on issues relating to UCP 600, ISBP, URC, URDG, and URR.
  • Designated 3rd checker for high value documents and releaser/ signer for swift messages/ discrepancy advice etc.
  • Ensured compliance to customer due diligence (CDD) and anti-money laundering (AML) checks in line with bank policy.

August 2007 – July 2012

International Bank

Trade Finance Clerk

  • All aspects of Import and Export Letters of Credit - including opening, amending, checking documentary presentations, paying and the resolution of any queries in connection thereto.
  • Implementing processes in connection with any Letters of Credit, which must be issued or advised via the Bolero system. Thus far this has been very successful, drawing in regular business from a major corporate commodity-based client and subsequently, greatly increasing revenue to the bank.
  • Ensured compliance to customer due diligence (CDD) and anti-money laundering (AML) checks in line with bank policy.
  • Issued Documentary Letters of Credit, Standby Letters of Credit and Guarantees.
  • Co-ordinated Assignments and Back-to-Back Letters of credit.

December 1996 – July 2007

Commodities trading

Finance Letter of Credit Administrator

  • Opening and amending Import Documentary or Standby Letters of Credit in accordance with UCP 600, for physical cargoes (Crude Oil, Oil Products and Sugar), and Swaps
  • Obtaining and checking financial securities required under each sale contract, where necessary. Obtaining any amendments needed to ensure that any security received was, and remained, fully cashable
  • Opening and amending Bid Bonds, Performance Bonds and Guarantees
  • Monitoring of vessel loading dates, quantities and specifications, as well as the cargo value
  • Presenting of documents on sales contracts, checking and paying of documents received under purchase contracts.
  • Dealing with any problems related to payments / receivables
  • Liaising with operations and Structured Finance department on financial security requirements, especially during the negotiation of new contracts
  • Liaising with Treasury department to ensure that all receivables were recorded and subsequently received. Coordination regarding the discounting of any receivables and arranging the paperwork in connection thereto. Constant liaison with Treasury department regarding payables in order for them to maintain their cash balances

October 1990 - December 1996

International Bank

Documentary Credits Clerk

  • First and second checking of documentary presentations and effecting payments there under
  • Opening and amending Import and Export Letters of Credit in accordance with UCP 500. Opening and amending Reimbursement Authorisations and Irrevocable Reimbursement Authorisations
  • Liaising with relationship management to determine on what basis we were to advise and or confirm Letters of Credit. Perform all of the banking formalities in association with their recommendation
  • Advising Export Letters of Credit where the beneficiary was abroad, by SWIFT 710 (advice of a third banks Letter of Credit) which required absolute accuracy and the removal of any ambiguity from the Issuing bank’s L/C
  • Dealing with any opening or amending queries from our agents, the Issuing bank, the Claiming bank, the beneficiary or the transferee.
  • Transferring export Letters of Credit, which included the vetting of the prime L/C and the transfer request for workability. Liaising with the prime beneficiary and pointing out all of the possible complications and pitfalls, and offering them suitable solutions and guidance in adherence with UCP 500 by letter, telephone and personal contact. Amending transferred Letters of Credit
  • Close liaison with Private Banking and Corporate Banking Managers to ensure that their customers requirements were met within their Letters of Credit, offer guidance and answer their queries

June 1990 – October 1990

National Bank

Administration Manager’s Assistant

  • Recording overtime figures and sickness and relaying the information to Head Office
  • Impersonal Accounts reconciliation, Management of diary for the Administration Manager
  • Liaising with staff regarding holidays, sickness and overtime

January 1989 – June 1990

National Bank

Processing Clerk

  • Encoding cheques and credits and reconciling the totals, Single Entry Machine and Nixdorf operator
  • Reconcile end of day figures, Handle all branch enquiries

August 1987 – January 1989

National Bank

Bank Clerk

  • Listing cheques and reconciliation with credits, Nixdorf operator, Town clearing, Cashiering
  • Customer services, including ordering cheque books, statements, standing orders, direct debits, stopping cheques and general enquiries

EDUCATION:

1982 – 1987: secondary School

  • O Level English Language (C); English Oral (C); Geography (C).
  • CSE: Physics (1); Maths (2); Computing (2); Drama (2).
  • AEB: English 70%; Computer Awareness 60%

INTERESTS:

  • I regularly participate in weight training and rowing, and have a keen interest in the Stock Market. I am also a DIY enthusiast, but these days spend most of my spare time managing household operations, budgeting, and scheduling for a busy family environment.

References Available Upon Request

If you are interested in this candidate, please contact Charlie Watson via email cwatson@cerfinancial.co.uk or call on 0207 626 6065.

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