Treasury Trade Finance Officer
4 days ago
Job Purpose:
- To assist the finance department in managing the company's 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 analyze the company's daily cash position to cover cash commitments and coordinate/optimize the short-term and long-term borrowing.
- Manage cash flow, income, liability obligations, and assets.
- Pool cash from all secondary bank accounts when necessary.
- Adhere to month-end cutoff schedules for reconciliations of all cash-related accounts, all month-end processes, and all related journal entries.
- Prepare daily, weekly, and monthly reports on the cash position.
- Assist with the company's hedging program.
- Assist with risk management by identifying/recommending strategies to minimize foreign currency and interest rate risks.
- Assist with short and long-term intercompany settlements and transactions.
- Monitor and analyze bank fees and interest charges.
- Maintain positive relationships with the banks.
- Assist other departments (e.g., audit, accounting) with month-end and ad-hoc information requests as needed.
- Work with the company's 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 letters of credit (LC) and collection bills, amendments, and 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 are 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 company's requirements.
- Manage the requirements of the banks for compliance with financial conditions/covenants.
Qualifications:
- Bachelor's degree in Finance, Banking, or any relevant field from a recognized university or institution.
Remote Work:
No
Employment Type:
Full-time
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