Trade Finance Manager

4 days ago


Kuwait City, Al Asimah Al Ahli Bank of Kuwait Full time
Job Description

The Assistant Manager-LC Import, Export role is responsible for overseeing the daily operations of letter of credit settlements, ensuring compliance with policies and procedures. This includes managing settlements, enhancing workflow efficiency, and providing exceptional customer support.

Key Responsibilities
  1. People Management: Manage, motivate and develop individual employees and the team in line with people policies & practices. Communicate operational procedures.
  2. Corporate Governance: Ensure the bank has robust corporate governance, strong internal control environment & regulatory/legal compliance in place to preserve long-term financial viability.
  3. Risk Management: Work alongside Risk Management in ensuring that the function works fully within the set frameworks, proactively monitor and report on risk exposure in order to enhance control effectiveness.
Specific Accountabilities
  1. Letter of Credit Settlements: Oversee the daily operations and performance of the Trade Finance letter of credit settlements, ensuring tasks are executed accurately and on time. Provide guidance and support to promote a high-performing team environment.
  2. Progress Reporting: Regularly update management on progress against deadlines and compliance with policies and procedures. Ensure transparency and accountability.
  3. Compliance Management: Maintain strict compliance with all Trade Finance policies, procedures, and regulations. Foster a culture of adherence within the team.
  4. Settlements Management: Manage the settlements of Letters of Credit and Collections, ensuring timely and accurate processing of payments, guaranteeing all due bills are paid punctually, processing clean documents for sight bills upon receipt of complete documentation, facilitating payment for discrepant documents upon obtaining client agreement and necessary approvals, processing incoming payments promptly upon receipt of funds or at maturity dates, and communicating all required notifications to clients and banks following transactions.
  5. Cross-Functional Collaboration: Collaborate with Corporate, International Banking, and Legal Divisions to facilitate approvals, manage limits, and oversee advising and confirmations.
  6. Workflow Optimization: Propose and implement strategies to enhance workflow efficiency, increase productivity, and improve customer service. Provide training and develop contingency plans to ensure operational continuity.
  7. Product Management: Plan, organize, and manage Trade Finance products within authorized credit lines to achieve targeted income, production schedules, and quality standards while minimizing costs.
  8. Application Oversight: Review, approve, amend, and correct application forms to ensure compliance with all governing laws and ICC regulations.

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