If You are Looking for Jobs in Kuwait City, Check out this Trade Finance Assistant Job vacancy in Kuwait City.
Your main responsibilities in this role include the following:
- Perform all operational activities as assigned by the Assistant Manager – TFD, in compliance with local regulations, and approved TF policies and procedures.
- Receive and check the duly filled LG/LC application forms and inward/outward collection documents from customers/corresponding banks (as applicable) for the correctness of details against the terms and conditions.
- Ensure that the clauses stated in the applications/covering letter don’t conflict with the regulatory guidelines related to the Letter of Credit/Guarantee.
- Initiate the lodging process by inputting necessary data onto the system along with commission/ charges, as applicable, in line with the request raised by the customer/corresponding bank and regulatory guidelines.
- Prepare the LC/LG documents as per the prescribed format for approval from the relevant authorities.
- Initiate the processing of applications by inputting LC data into the system along with commission/ charges, as applicable, post-approval from the relevant authorities.
- Prepare request letters addressed to the insurance companies on behalf of customers for insuring letters of credit, in line with the terms and conditions of the trade.
- Prepare amendment instructions, and related SWIFT messages/mail confirmation, and compute the charges related to the commission, and liability, as directed by the Senior LC Officer.
- Receive applicant’s instructions on the prescribed form, generate transaction application, and liaise with the RMs to obtain necessary approvals from the approving authority for initiating amendments.
- Liaise /follow up with the applicants and/ or beneficiaries on matters related to the extension/amendments/expiry of LGs, as applicable.