Trade Services Clerk (Mandarin Speaking Job London area,Greater London England UK,Finance & Banking

Position: Trade Services Clerk (Mandarin Speaking)
Location: Greater London

London, United Kingdom | Posted on 13/11/2023

This is a permanent position working with a well-established bank in central London.

Principal Responsibilities of the Role

The role is within the BanksIBD Trade Finance Department and will be interchangeably responsible for, butnot limited to, the processing & booking of TF transactions, document checking, settlement of trade finance products & production of OperationalMIS encompassing;
Traditional documentary trade structures (e.g. Import & Export LC, IRUs, LC settlements/collections, Guarantees/SBLCs)
Open account structures ;(e.g. Pre & Post shipment Import /Export Finance, Trade Loans,
Document checking and LC workability
The job holder will perform their responsibilities to the required high level of quality & competence required by both external clients & internal stakeholders (TF RMs, CBD, FCPetc) in accordance with service level agreements (SLAs) as well as in strict accordance with internal Policies & Procedures which will span across TF,FCP, CRD & other stakeholders requirements.
The job holder will also ensure strong client satisfaction & service provided on a continual basis and will be the mainpoint of contact for Client’s counterpart Operational teams for all trxprocessing related matters & queries, whilst ensuring relevant RM & TFHead is kept fully in the loop with relevant Client queries/issues pro-actively anticipated, internally escalated to RM/TF Head and satisfactorily addressed intimely manner with approval of the latter.

Client trxs TAT will be a key KPIfor the role as well as overall Client service satisfaction which will be measured based on client surveys directly.
The job holder will be operationally processing trade finance transactions within the required service level agreements (SLAs) and to the required high standards. In addition, the role hasthe following responsibilities, including but not limited to;

Ensure that risks incidents are reported as per policies and procedure to the Operational Risk Function of the Bank

Ensure that customer queries and enquires are handled in accordance with the internal policies and procedures

Suggest and implement improvements and enhancements to the current processes, systems,and workflows

Review Clienttrx instructions received to ensure they are valid, workable and relevant regulations and internal Operational Policy and Procedures. Trxs include;
o All aspects of import transactions, e.g.
L/Cissuance, L/C acceptances, collections such as D/P, D/A, etc., scan document andsend to BPC for their checking under import L/Cs, effecting payment under L/Cs, D/P, D/A, etc., bank guarantees / standby L/Cs and import finance.
o All aspects of export transactions e.g.
L/C advising; L/C confirmation, scan documents andsend to BPC for their checking against export L/C negotiation, L/C reimbursement and collections under D/P,D/A, etc. Double check the contents of delivery documents before mailing.
o Trade related finance solutions e.g.
Import/Export Open a/cfinance, Packing loans, factoring, bills discounting, forf a iting and funded or un-funded risk participation, Inv discounting

Perform required Trade Finance Compliance and due diligence checks in accordance with relevant Policy & Procedures and alert RM/TF Head of relevant Red Flags

Processing transactions timely and accurately within agreed SLAs with Clients local Market practice once trxs TAT agreed with RM/TF Head

Liaising with Issuing banks, beneficiaries,correspondents, treasury, credit, compliance on transactions as necessary toensure smooth processing and anticipate any bottlenecks proactively to find solutions to address in conjunction with RM/TF Head

Calculate accurately the fees and interests for the relevant transactions and track payment, chase up late payments and escalate non-payments to RM/TF Head

Liaise correspondence in connection with documentary import and export letters ofcredit for customers of the Bank in line with agreed procedures with BPC.

Collate and check documents which have been processed by BPC to ensure Compliant with letters ofcredit terms and conditions.

Proficient checking of payments with appropriate knowledge of Swift rules after being made by BPC.

Timely follow ing up of irregularities with customers and BPC.

Liaise with clients on matters relating to L/C transactions togetherwith BPC.

Assist RMs/ TF Head in carry ing out various trade finance related statistical reports for Management and Head Office.

Funds positioning.

Carry ing out periodical accounting reconciliation internally with Credit Administration, Corporate Banking and Financial Control departments and externally with BPC.

Make proper registrations to the business as required by the procedure.

Assist RMs / TF Head to monitor the progress and ensure closure of transaction processing.

Suggest the upgrading of the working procedure& practices to continually drive efficiencies and improve trxs TAT

Filingand E-archiving of trxs-Create Electronic File at the time of Trxs initiation

All the CDD and AML checking in trade services…