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Trade Finance Officer

3.00 to 10.00 Years   Kharj Road, Industrial Area, Riyadh , Saudi Arabia   29 Jan, 2021
Al-Watania for Industries
1 Jobs Openings
Job LocationKharj Road, Industrial Area, Riyadh , Saudi Arabia
EducationBachelor's degree / higher diploma
SalaryNot Mentioned
IndustryIndustrial Production
Functional AreaNot Mentioned

Job Description

Brief Role:Practical understanding and knowledgeable in global trade transactions, and custom matters.Responsibilities:

  • Responsible for Application of Bank guarantees in favor of vendors or other concerned party.
  • Acts as custodian of Original Bank Guarantees in favor of WFI and its SBUs.
  • Notify concerned department of guarantees validity and prepare for encashment, cancellation or extension as per SBUs advice.
  • Prepares application of import L/C through bank online system or manual application while ensuring WFI SOP (Standard Operating procedures) for purchase is followed.
  • Prepare and send request to insurance company for LC marine insurance requirements or request LC issuing bank to insure the LC.
  • Prepares L/C amendment applications as per SBU request as per WFI SOP for purchase.
  • Application for issuance and Follow up for return of shipping guarantee / custom duty guarantee.
  • Review Export/Outward LC terms and suggest changes that will benefit WFI or its SBU.
  • Assist SBUs to prepare/check Export/Outward LC documentation and facilitate transmittal of such document to bank.
  • Monitor bank accounts for any trade and non-trade transactions.
  • Send credit/debit transactions to SBU to check and verify unidentified non-trade related transactions.
  • Ensures timely and proper transmittal of all shipping documents imports and Export/Outward.
  • Check all requests from purchase department if complied in the SOP.
  • Collect information from SBU regarding expected import LC or BC documents and notify bank for it.
  • Follow up all shipping documents submitted to the partner banks.
  • Prepares instructions, acceptance of discrepancies to collect the import LC or BC documents.
  • Timely and accurate postings of all trade transactions in LC and BC system.
  • Ensuring well-organized filing and documentation.
  • Provides document references for activities in Bank account and sending it to General Ledger section.
  • Prepare reports related to Finance-Trade and ensures its timely submission.
  • Monitor daily cash balance and projected payables.
  • Any other additional jobs/responsibilities assigned by superiors and other departments.

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