Job description

Job Purpose Summary:

The incumbent will perform tasks pertaining to the timely issuance of Import Letters of Credit (L/Cs) in a way that supports the business units and ensures a good working relationship with the Group’s clients.

A. Shareholder & Financial:

- Implements KPI’s and best practices for Senior Associate, Issuance (LCs) role.

- Act within the limits of the powers delegated to the incumbent.

- Promote cost consciousness and efficiency and enhance productivity, to minimise cost, avoid waste, and optimise benefits for the Bank.

B. Customer (Internal & External):

- Liaise with internal and external clients in order to meet their needs in a timely and accurate manner.

- Proactively identify areas for professional development and undertake development activities.

- Seek opportunities to remain current with all developments in the professional field.

C. Internal (Processes, Products, Regulatory):

- Accurately handle complex processes relating to Import Letters of Credit in strict compliance with International Chamber of Commerce (ICC) Rules.

- Receive and review Import Letters of Credit applications with special terms and conditions to ensure receipt of complete transactions.

- Issue Letters of Credit with special terms and conditions, including Revolving, Back-to-Back, Transferable and Standby L/Cs.

- Check documents, identify discrepancies and communicate with negotiating banks to safeguard QNB’s interests.

- Ensure transaction documentation submitted for authorization is accurate and processed in a timely manner.

- Release sight and acceptance documents relating to Import Letters of Credit transactions to clients.

- Deal with clients and ensure routine operational issues are processed efficiently.

- Ensure L/C applicants possess valid commercial registrations and that terms and conditions are clear and precise.

- Ensure the L/C amount does not exceed the maximum amount permitted under the customer’s application.

- Ensure L/Cs are properly authorized within approved limits or supported by appropriate approvals.

- Ensure all L/Cs comply with Uniform Customs and Practice (UCP), local import regulations and Group policies.

- Maintain L/C documents safely and ensure adherence to approved limits established for each client and bank.

D. Learning & Knowledge:

- Stay abreast of all new local and international regulations pertaining to Import Letters of Credit.

- Ensure high standards of confidentiality to safeguard commercially sensitive information.

- Proactively identify areas for professional development and undertake development activities.

- Seek opportunities to remain current with developments in the professional field.

• Bachelor degree University Graduate/preferred with a Major in Marketing, Banking, Finance, Accounting, Economics, Business Administration or Information Technology (related field of study)

  
  

• At least 2 years of relevant experience, preferably within a highly rated international bank