Junior Associate (Operations / Trade Finance) - Fixed Term Contract

Junior Associate (Operations / Trade Finance) - Fixed Term Contract, London

Client: Bank ABC

Location: London, United Kingdom

Job Category: Other

EU work permit required: Yes

Job Reference: a3a6b2ce2a07

Job Views: 4

Posted: 16.02.2025

Expiry Date: 02.04.2025

Job Description:

Job Title: Junior Associate (Operations / Trade Finance) - Fixed Term Contract
Location: London, U.K.
Department: Operations
Employment Type: 12 Months Fixed Term Contract
Work Pattern: Full-Time

Overview:

Provide a professional service to all internal and external customers of the Bank, ensuring that all aspects of the day-to-day work are processed efficiently and correctly. This role reports to the Head of Commodities Operations and provides operational support to the Commodity Trade Finance business area and external clients, delivering service within defined levels with strict adherence to the Bank’s policies and procedures.

What You Will Be Doing:

1. Scanning of documents under Letter of Credit and logging documents into Excel and Bank systems, filing, archiving, and supporting TFS in other administrative duties.
2. Sanction screening all parties in TI system with the documents presented.
3. Carrying out Vessel checks through IMB and Polestar and raising Transactional Enhanced Due Diligence (TEDD).
4. Providing support to the TFS L/C team by scanning all incoming presentations, filing, and matching files to queries, maintaining accurate records of archived transactions.
5. Scanning all documents received into SharePoint and accurately recording them in the system. Filing of all transaction files and retrieval of files for queries.
6. Controlling the archiving of TFS records both on and off-site storage and maintenance of the archiving database.
7. Scanning all documents presented for BC/DRC purposes and keeping accurate records of archived files and their destruction to save storage costs.
8. Creating and maintaining a schedule for regular archiving and document control.
9. Maintaining a good working relationship with the TFS, CTS and contributing towards team success.
10. Processing Import LC for Commodity amendments, checking documents received from presenting Bank/Beneficiary and payments.
11. Processing Standby L/C’s, Bid Bonds, and Performance bonds amendments correspondence and charge maintenance.
12. Issuing Guarantees, amendments, and claiming of our charges at required periodic intervals for Commodities Clients.
13. Processing Export LC for Commodity Clients, including advising, amending, document checking, and payment of documents.
14. Processing Assignment of proceeds and ensuring vetting and compliance checks are done on the assignee.
15. Processing discounts and loans, ensuring details are entered accurately into the Bank systems in line with Banks procedures and customer’s facility.
16. Processing Documentary Collections and Reimbursements for Commodity Clients.
17. Undertaking transactions documentation reviews, conducting counterparty checks, and AML checks thoroughly.
18. Resolving any queries received from internal and external stakeholders in a timely manner, escalating when required.
19. Working closely with colleagues across all other functions to maintain a cohesive team ethos.
20. Assisting Manager and team members with Audit requests and entering Nostro information, assisting with other activities as required.
21. Providing support for new projects for Commodity clients and initiatives requiring operational dependencies.
22. Identifying process improvements and system-related efficiency opportunities related to Commodity trade and structured trade finance products.
23. Ensuring all day-to-day work is handled efficiently, correctly prioritized, and processed within Customer/Bank limits with necessary approvals.
24. Working flexible time and shift patterns to support commodity clients’ requirements, ensuring turnaround of transactions within SLA of 48 hours.
25. Sunday work may be applicable as per business needs.
26. Assisting the team with Lean Six Sigma transformation.
27. Willingness to expand underlying trade finance knowledge and learn new areas of trade finance.

Candidate Specification:

• Microsoft Office applications.
• Basic knowledge of Trade finance products and relevant rules such as UCP, ISBP, URDG, URR, ISP98.
• No specific academic or professional qualifications are required.
• It is highly desirable to have a minimum of 3 years office filing and archiving experience.
• At least 6-12 months experience in Trade finance operations department is highly desirable.
• Ability to remain calm under pressure.
• Strong interpersonal skills are essential as part of a small team requiring cohesion and professionalism.

Bank ABC is committed to the principles of equal employment opportunity for all employees and applicants and does not discriminate on the basis of sex, gender identity, gender expression, race, color, religion, national origin, ancestry, age, marital status, disability, medical condition, sexual orientation, or on any other basis prohibited by law.

We welcome applications from people with disabilities and are committed to providing reasonable adjustments, where necessary, to make interviews and jobs more accessible. Should you have any difficulty during the recruitment process, require any reasonable adjustments, or an application to Access to work please contact the recruitment lead.