Job Purpose:<\/p>\n
\tThis role is interchangeably responsible for; initiation, document checking, accepting and settlement of Trade Finance products.\u00a0
\n\tThe role processes all types of Export and Import: Commercial Letters of Credit, Standby Letters of Credit, Bank Guarantees, Documentary and Clean Collections; Avalized Bills, Bill Discounting, Supply Chain Finance transactions and Financial Institution remittances.
\n\tAll this in compliance with the Bank\u2019s internal policies, CBK prudential guidelines, and the international trade guidelines and practices.
\n\tThe role also ensures timely and efficient customer service delivery and revenue generation, while safeguarding the bank\u2019s interest in prevention of money laundering, potential litigations and losses.<\/p>\n
Key responsibilities:
\nProcessing of Trade Finance Instruments (60%):<\/p>\n
\tReview instructions received to ensure they are valid, workable and meet the bank\u2019s and International Trade guidelines. Where required, liaise with customers to guide and seek clarity in order to obtain a complete application.
\n\tCarrying out Trade Finance Compliance and due diligence checks in accordance with procedures e.g. Type of goods, countries involved and where required escalate to the line manager.
\n\tLiaising with , Relationship Managers, Credit Administration, legal department and Treasury as required to facilitate processing of the transactions. This includes seeking approvals, marking of limits in the system, legal opinion of guarantee wordings, bank indemnities etc.
\n\tDrafting, initiation and amendment of all types of Letters of Credit (Export, Import, Back-to-Back etc.). This involves liaising with customers with regards wording, terms and conditions.
\n\tDrafting, Initiation and amendment of all types of Guarantees (Bid Bonds, Performance, Payment etc.) and Standby Letters of Credit.
\n\tReceiving, document processing, release to clients of all documentary Collections (Import, Export, Avalization).
\n\tReceiving of outward foreign cheques, sorting, compliance checks, dispatch to correspondent banks for payment; confirmation and payment of inward foreign cheques; processing and dispatch of unpaid cheques.
\n\tReceiving, customer confirmation and processing of Supply Chain Finance instructions (discounting and\/or distributor finance). This applies for bills discounting outside Supply Chain Finance.
\n\tLodging & Acceptance of Bills (Collection and LC), and relaying acceptance to Correspondent Banks.
\n\tPayment of Bills on due date or as customers submit instructions, in liaison with Business Development and Treasury as may be required.<\/p>\n
Customer care (30%):<\/p>\n
\tAct as point of reference for enquiries and provide trade finance advice to external clients, and internally to bank staff as and when required.
\n\tCorrespondence with Counter Party banks \u2013 Initiation and response to correspondent bank queries.
\n\tConfirmation of Guarantees Issued to External parties i.e. Government bodies and Large Corporates e.g. VIVO, SAFARICOM etc
\n\tPreparation of reports of outstanding liabilities and sharing with Internal and External customers as and when called for.<\/p>\n
Audit and compliance (10%):<\/p>\n
\tMonitoring Nostro Statements for reconciliation and accounting for and\/or clearing any outstanding trade related items.
\n\tIdentify any potential red flags taking into consideration Compliance requirements\/AML\/Sanctions and escalating to line manager where required.
\n\tReporting any Risk events within timeframes outlined in the procedure.
\n\tSafe keeping of Client Shipping documents in Fire Proof Cabinets.
\n\tFollow up with customers for duly executed Bills of Exchange and indemnities for safe keeping as these are considered legal documents.
\n\tWeekly review of Outstanding Liabilities and timely notification to the relevant stakeholders e,g. Customers, Business Development, Credit.
\n\tFormally notifying customers and\/or correspondent banks of overdue payments; and closure of bills within the set timelines.
\n\tPrinting and Call back of daily journals.<\/p>\n
Academic Qualifications:<\/p>\n
\tA bachelor\u2019s degree in a Business-related field from a recognized institution.<\/p>\n
Professional Qualifications:<\/p>\n
\tAny trade related professional qualification & certification.<\/p>\n
Work experience:<\/p>\n
At least 1-3 years\u2019 relevant professional experience and track record in processing of trade products.<\/p>\n
Key competencies:<\/p>\n
\tAbility to write letters, reports and to perform calculations.<\/p>\n
Skills and Attributes:<\/p>\n
\tIntegrity.
\n\tRisk Awareness.
\n\tClient Focus.
\n\tAnalytical skills.
\n\tAttention to detail.
\n\tPlanning skills.
\n\tAbility to work under minimal supervision.
\n\tBasic understanding of trade rules and practices, both domestic and international.
\n\tSatisfactory understanding of sanctions list and how to use them i.e. UN Sanctions, EU Sanctions, Domestic Sanctions if any.
\n\tBasic knowledge of professional and industry standards, bank policies and international rules UCP, ISP, ISBP, URDG, URR, etc.<\/p>\n
go to method of application \u00bb<\/p>\n
Use the link(s) below to apply on company website. \u00a0<\/p>\n
Apply Through:<\/p>\n","protected":false},"author":2,"featured_media":0,"template":"","meta":{"_promoted":"","_job_location":"","_application":"","_company_name":"I&M Bank","_company_website":"http:\/\/www.imbank.com","_company_tagline":"I&M Bank is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking. Started in 1974, it evolved from a community financial institution to a publicly listed major regional commerci... read moreal bank offering a full range of corporate and retail banking services, 35 branches in Kenya and international operations in 3 other countries. I&M Bank is a dominant player in the Kenyan market that has been consistently growing, and is innovative in terms of the type and range of products and services it offers. CDC Group plc, a development finance institution wholly owned by the government of the United Kingdom owns approximately 10.68% of I&M Holdings, the holding company of I&M Bank Ltd. In addition, I&M Bank has a technical support agreement with International Finance Corporation for staff training, product development and risk management. I&M Bank also enjoys medium term foreign currency credit facilities from European Development Financial Institutions - Proparco, DEG and FMO. I&M Bank\u2019s international correspondent banks include major multinational banks such as Bank One Ltd, Citibank NA, CommerzBank AG, Deutsche Bank AG, ICICI Limited Mumbai, Mashreq Bank PLC, Standard Bank of South Africa and Standard Chartered Bank NY. I&M Bank\u2019s international network includes Bank One Limited (Mauritius), I&M Bank Tanzania Limited and I&M Bank Rwanda Specialties Banking Services, Commercial Banking, Asset Finance, Mobile Banking, Internet Banking, Investment Management Services, Diaspora Banking, Credit \/ Debit \/ Prepaid cards, Wealth Management","_company_twitter":"","_company_video":"","_filled":0,"_featured":0,"_remote_position":0,"_job_salary":"","_job_salary_currency":"","_job_salary_unit":""},"job_listing_region":[692],"job-categories":[791,693,701],"job-types":[687],"class_list":{"0":"post-91123","1":"job_listing","2":"type-job_listing","3":"status-publish","4":"hentry","5":"job_listing_region-nairobi","7":"job-type-full-time"},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/jobs.dataaxisnode.com\/kenya\/wp-json\/wp\/v2\/job-listings\/91123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobs.dataaxisnode.com\/kenya\/wp-json\/wp\/v2\/job-listings"}],"about":[{"href":"https:\/\/jobs.dataaxisnode.com\/kenya\/wp-json\/wp\/v2\/types\/job_listing"}],"author":[{"embeddable":true,"href":"https:\/\/jobs.dataaxisnode.com\/kenya\/wp-json\/wp\/v2\/users\/2"}],"wp:attachment":[{"href":"https:\/\/jobs.dataaxisnode.com\/kenya\/wp-json\/wp\/v2\/media?parent=91123"}],"wp:term":[{"taxonomy":"job_listing_region","embeddable":true,"href":"https:\/\/jobs.dataaxisnode.com\/kenya\/wp-json\/wp\/v2\/job_listing_region?post=91123"},{"taxonomy":"job_listing_category","embeddable":true,"href":"https:\/\/jobs.dataaxisnode.com\/kenya\/wp-json\/wp\/v2\/job-categories?post=91123"},{"taxonomy":"job_listing_type","embeddable":true,"href":"https:\/\/jobs.dataaxisnode.com\/kenya\/wp-json\/wp\/v2\/job-types?post=91123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}