Senior Associate, Disbursement
- Jeddah, Makkah
- Permanent
- Full-time
This role is responsible for the timely processing of utilization requests under trade finance facilities in accordance with approved terms and conditions while ensuring observance of prescribed processes. This also includes servicing clients, liaising with syndicate partners and correspondents and recording of disbursements and related transactions.2.0 KEY RESPONSIBILITIES:
Core ResponsibilitiesExamine utilization requests received from clients to ensure compliance with the facility terms and conditions as well as compliance with internal policies and procedures.
Ensure Documentary Credit applications are compliant with the financing terms and conditions, corporation’s Policies and Guidelines, Uniform Customs and Practice and International Standby Practices
Process the Issuance, Confirmation, Amendment, Extension, Negotiation, Acceptance and Cancellation of Import/Export Letters of Credit and Standby Letters of Credit.
Examine shipping documents against LC terms and relevant ICC rules.
Process disbursements in accordance with internal standards.
Prepare all relevant SWIFT messages
Update clients on the status of their requests.
Maintain quality service levels for both clients and syndicate partners with a focus on accuracy, compliance and efficiency.
Manage correspondence with syndicate partners under a syndicated facility in relation to their contributions and payables.
Liasie with banks and other intermediary financial institutions to resolve any issues and ensure all tasks are properly handled.
Participate in department initiatives and enhancements.
Liaise with the Finance Department for accounts reconciliation.
Monitor and record the collection of fees.3.0 QUALIFICATIONS AND COMPETENCIES:Bachelor’s Degree in Business Administration, Commerce, Finance, Economics or a related field.
Certified Documentary Credit Specialist (CDCS) is an advantageYears of Experience:Minimum 3 years of experience in a similar role in Banking and/or Trade Finance/Operations Function.Language Skills:English is compulsory
Arabic or French is highly desired