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

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

Client: Bank ABC

Location: London, United Kingdom

Job Category: Other

EU work permit required: Yes

Job Reference: a617e4395b9c

Job Views: 4

Posted: 16.02.2025

Expiry Date: 02.04.2025

Job Description:

Job Title: Trade Finance, Junior Associate (Operations / 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 day-to-day work is processed efficiently and correctly. This role reports to the Head of Commodities Operations, providing 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 in documents into Excel and Bank systems, filing, archiving, and supporting TFS in any 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 service 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-site and off-site, and maintaining the archiving database.
7. Scanning all documents presented for BC/DRC purposes, 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 good working relationships 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, ensuring timely turnaround within the SLA.
12. Issuing Guarantees, amendments, and claiming of 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, ensuring vetting and compliance checks are done on the assignee.
15. Processing discounts and loans, ensuring accurate entry into the Bank systems in line with Banks procedures and customer’s facility.
16. Processing Documentary Collections and Reimbursement for Commodity Clients.
17. Undertaking transaction documentation reviews, ensuring thorough counterparty checks and AML checks.
18. Resolving any queries 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.
21. Providing support for new projects for Commodity clients and initiatives requiring Operational dependencies.
22. Identifying process improvements and system-related efficiency opportunities.
23. Ensuring day-to-day work is handled efficiently and prioritized correctly, with all required approvals in place.
24. Working flexible hours and shift patterns to support commodity client requirements, ensuring transactions are turned around within 48 hours SLA.
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 proficiency.
• Basic knowledge of Trade finance products and relevant rules such as UCP, ISBP, URDG, URR, ISP98.
• No specific academic or professional qualifications required.
• Highly desirable: minimum of 3 years office filing and archiving experience.
• Highly desirable: at least 6-12 months experience in Trade finance operations Department.
• Ability to remain calm under pressure.
• Strong interpersonal skills to work cohesively in a small team providing first-class service to clients.

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

We welcome applications from people with disabilities and are committed to providing reasonable adjustments to make interviews and jobs more accessible. For any difficulties during the recruitment process, please contact the recruitment lead.