Treasury Trade Finance Officer
Posted on :
20-12-2024
Employer Active
1 Vacancy
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Job Description
Job Purpose:
- To assist the finance department in managing the companys financial resources including cash management liquidity management foreign exchange risk management and regulatory compliance.
- To handle the trade finance transactions (mainly letters of credit and bank guarantees).
- To reconcile bank statements and maintain banking relationships.
Treasury Management
- Monitor and analyse the companys daily cash position to cover cash commitments and coordinate/optimize the shortterm and longterm borrowing
- Manage cash flow income liability obligations and assets
- Pool cash from all secondary bank accounts when necessary
- Adhere to monthend cutoff schedules for reconciliations of all cashrelated accounts all monthend processes and all related journal entries
- Prepare daily weekly and monthly reports on the cash position
- Assist with the companys hedging program
- Assist with risk management by identifying/recommending strategies to minimize foreign currency interest rate
- Assist with short and longterm intercompany settlements and transactions
- Monitor and analyse bank fees and interest charges
- Maintain positive relationships with the banks
- Assist other departments (e.g. audit accounting) with monthend and adhoc information requests as needed
- Work with companys business units to prepare weekly/monthly/annual cash forecasts and other cash and borrowing projection models and establish metrics/key performance indicators
- Recommend and implement solutions to strengthen operational controls and incorporate best practices.
Trade Finance
- Preparation of banking documentation for letter of credit (LC) and collection bills Amendments TRs
- Checking of documents negotiated under LC.
- Process documentation required to be presented to banks for negotiation
- Follow up on all discrepancies acceptance payment and any disputes
- Ensuring Bills under Usance LC paid on due date by applying TR or requesting the same to be included in daily cash planning.
- Checking of Bank Charges pertaining to LCs / TR Interest Rates.
- Vetting texts for bank guarantees (both internally and with the relevant banks) and concluding on the acceptable text with the suppliers/customers.
- Processing the bank guarantee requests collection of guarantees from the banks and delivery of guarantees to the beneficiaries
- Maintaining a track record of all open trade finance items
- Ensuring the collection and cancellation of all bank guarantees after expiry (whenever the guarantees cease to be required)
Annual Budget
- Assist Senior FM in Preparation of Cash Budget.
Banking Facilities
- Review banking facilities documentation (renewals) for the Company and ensure in line with the Companys requirements.
- Manages the requirements of the banks for compliance with financial conditions / covenants.
Qualifications :
- Bachelors degree in Finance Banking or any relevant field from a recognised University or Institution
Remote Work :
No
Employment Type :
Fulltime
Employment Type
Full-time
Key Skills
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