Senior Manager, Documentary Credits

  • Location:
  • Salary:
    negotiable / YEAR
  • Job type:
    FULL_TIME
  • Posted:
    3 months ago
  • Category:
    Management and Strategy
  • Deadline:
    19/09/2024

JOB DESCRIPTION

IDB2916 – Senior Manager, Documentary Credits

Business Unit:ITFC
Division:Not Applicable
Department:Not Applicable
Contract type:Conditional Regular (Indefinite) Employment
Country:Saudi Arabia
Location:Saudi Arabia – Jeddah
Closing date:19-Sep-2024

JOB PURPOSE:

 

This role is to manage the department’s activities relating to Documentary Credit-based transactions, including the issuance, confirmation, amendment, extension, negotiation, acceptance and cancellation of Import/Export Letters of Credit and Standby Letters of Credit. This includes ensuring adherence to the controls within the set guidelines specific to documentary credits, efficient documents checking, and complete file maintenance.

 

KEY RESPONSIBILITIES:

 

  • Ensure Documentary Credit applications are in compliance with the financing terms and conditions, the corporation’s policies and guidelines, Uniform Customs and Practice and International Standby Practices
  • Supervise the issuance, confirmation, amendment, extension, negotiation, acceptance, and cancellation of Import/Export Letters of Credit and Standby Letters of Credit
  • Supervise the drafting of technical terms and conditions to ensure proper construction of Documentary Letters of Credit
  • Supervise the checking of Documentary Credits and trade documents for adherence with L/C terms, Uniform Customs and Practice, and consistency across trade documents
  • Ensure compliance with standards, guidelines, procedures, and controls when reviewing documentation, endorsements, and dispatching
  • Supervise and ensure accuracy and timely recording of activities in the system
  • Supervise staff adheres to the controls within the set guidelines specific to compliance in coordination with the Compliance function, Bills of Lading verification, invoices etc.
  • Supervise staff to maintain complete records and track existing Letters of Credit for pending inquiries, discrepancies, and resolution of documents and reporting as per department procedures
  • Provide trade advice on the workability of the Documentary Credits to clients and other ITFC staff
  • Participate actively in department-level improvement initiatives for Documentary Credits, manuals, department work plans, process enhancements etc.
  • Supervise staff generating activity/progress reports for management and clients
  • Liaising with other Departments (Treasury, Risk, IsDB) in the establishment of RMA or other related relationships
  • Passing relevant SWIFT messages

 

Qualifications & Other Certifications:

 

  • Master’s Degree in Business, Finance, or Economics
  • Certified Documentary Credit Specialist (CDCS)

 

Language Skills:

 

Compulsory languages:

First: English

Second: Arabic and/or French

 

Years of Experience:

 

  • Minimum of 6 years experience

 

This job has expired.