Head of Trade Finance
City of London
Permanent
£110,000 - £140,000
cer Financial are working alongside an international bank who are based in the City of London. They are seeking a Head of Finance to work with them on a permanent basis.
The responsibilities of the Head of Trade Finance will include:
- Proactively identify and pursue new trade finance business opportunities, including monitoring FI limits and engaging directly with counterparties or through the secondary market.
- Attend meetings, seminars, and networking events to build relationships, broaden market reach, and expand sources of trade finance business.
- Respond promptly and professionally to all external and internal enquiries relating to trade finance opportunities, demonstrating strong technical expertise and excellent customer service.
- Liaise effectively with customers on document discrepancies, technical queries, and transaction issues, including managing difficult customer interactions with professionalism and clarity.
- Manage smooth running of trade finance operations.
- Complete credit line reviews and applications on a timely basis to ensure credit lines are renewed prior to expiry for the smooth running of customer/counterparty trade finance limits, as well as completing the customer/counterparty due diligence checks for compliance, and present to Credit Risk and MLRO for assessment and approval.
- Respond promptly and with care and attention to all e-mail enquiries in respect of trade finance business opportunities, enquiries from correspondents, or internal correspondence.
- Monitor FI limits and where limits are available check with relevant counterparties for new trade loan business opportunities, both directly with FI counterparty or via the secondary market.
- Attend meetings with counterparties to develop relationships and increase scope for sourcing business opportunities, as well as attending internal meetings whether in respect of trade finance operations or general matters of the Bank.
- Monitor changes in relevant regulation, whether government or governing body.
- Perform final check and authorise all transactions processed, signing documentation, including internal account posting vouchers, and releasing Swift payments and correspondence.
- Third check documents presented under letters of credit over £100K. Second check documents when covering absence of a team member.
- Second signatory on all documentation advising or amending letters of credit, issuance or amendment of guarantees, or any other departmental documentation requiring signature.
- First signature on all trade finance documentation which requires approval by the CEO or nominated deputy, or a second authorised signature of the Bank.
- Provide monthly management information on business volumes and income and write the monthly trade finance highlights report for EXCO, and when necessary for the Board of Directors.
- Check all documentation in respect of trade loans or forfaiting transactions, and sign the approval form.
- Liaise with third party service providers, such as lawyers for legal review of documentation, as and when required.
- Liaise with customers regarding their enquiries or in respect of discrepancies in documents presented.
- Ensure that customer due diligence and AML checks are completed on all transactions.
- Provide quality customer service to all counterparties, customers (including internal customers), demonstrating excellent communication skills
- Attend seminars and networking events.
- Provide guidance/coaching to team members.
- Perform appraisal reviews for all staff and provide ongoing feedback on performance and in meeting objectives.
- Lead, motivate, and develop team members.
- Support the recruitment, onboarding, and ongoing development of staff.
The successful Head of Trade Finance will have:
- Thorough knowledge and grounding in ICC rules governing letters of credit, guarantees, bank to bank reimbursements, documentary collections, standby letters of credit, and forfaiting.
- Must be confident in dealing directly with beneficiaries and other banks in technical documentary credit matters and dealing with difficult customers and issues.
- Awareness/experience of managing credit limits, and ability to analyse bank financial reports and prepare credit line applications.
- Good understanding of Risk Participation Agreements and Trade Loan Agreements, with operational experience in conducting trade loans.
- Good knowledge of AML regulation and experience in completing customer due diligence checks.
- Thorough understanding of international payments, acceptances, discounting of bills, and trade loan documentation.
- Proficient with systems – Swift (particularly messages in the 700/400 series and bank to bank (MT202) and customer (MT103) payments); Equation and Quantum (checking outstanding balances and exposure against limit); and Microsoft Excel and Word.