Ensure smooth functioning of all LC processes
Organization of work flow to achieve maximum productivity
Ensure that LC related products/applications/documents are processed against laid down procedures, service standards and key control standards.
Ensure compliance of all internal procedures, operational controls local regulation and ICC rules.
Stake holder engagement and management.
Key Roles & Responsibilities
IMPORT LETTERS OF CREDIT
• Ensure that applications received are processed within approved SLA and client segmentation.
• Amendment request should be processed within approved SLA
• Ensure that issuance of Letter of Credit is in line with local and international standards.
• Ensure that the DOI is followed in processing and continuously reviewed to reflect current operations. Seek dispensation for all non compliance.
• Follow through with the advising bank and ensure that LC are advised promptly and provide clarifications where required.
• Ensure smooth transactional flow from LC issuance up till Negotiation and receipt of EXchnage control Documents
EXPORT LETTERS OF CREDIT
• Letters to be advised same day if authenticity of the message is established.
• Ensure same day TAT on chasing and settlement of proceeds.
• Ensure revenue is realized on received export LCs.
• Returns to CBN via finance on a monthly basis on letter of credit.
• Returns on utilization on letter of credit monthly
• Timely return rendition of all regulatory reports
• Periodic review of applicable report to ensure there is no overdue items or risk issues
• Processing customer transaction in line with agreed SLA
• Ensure dual control is maintained at all times where applicable.
• Ensure that all customer queries and requests are responded to within 24 hours after receipt
• Maintain comprehensive register for all products
• Monitor and ensure end to end consummation of all processes under my role.
• Adequate start of day and end of day processes to ensure operational safety.
• Provide all necessary assistance to ensure nil overdue items in reconciliations.
• Weekly reconciliation of original shipping documents
• Ensure that you remain alert to the risk of money laundering and assist in the bank's effort in combating it by adhering to the key principles in relation to: identifying customers, knowing customers, reporting suspicions, safeguarding records and not disclosing suspicions to customers. Ensure my staffs are trained in combating money laundering.'
• Ensure / assist unit head in creation and maintenance of compliance culture, undertake compliance monitoring, generate timely and accurate compliance reports, proactively advise Country compliance on compliance issues, and update new matrices as communicated by the BCC
• Be aware of and comply with Group Policy, Local Laws and Regulations relating to the prevention of Money Laundering and Terrorist Financing.
• To assist the Unit Head in the creation and sustenance of a strong operational risk control environment by undertaking periodic self-assessment of key controls to assess the proper functioning and adequacy of existing controls and assist in coordinating, facilitating and promoting the understanding of operational risk and implementation and management of OR within the unit
• Good communication and inter-personal skills.
• Minimum five (5) years banking experience
• Good working knowledge of the Bank's products and services.
• Good PC skills.
• A University Degree.
• Minimum of four years experience in Trade Operations
• Knowledge of risks and local Laws relating to Trade
• Good knowledge of applicable international trade practices
• Trade Certifications would be an added advantage.