Head, Trade Services at First Bank

Ref No: 19000044
Location: Lagos
Organization: Technology and Services
Schedule: Regular
Shift: Standard
Job Type: Full-time
Grade Range - From: Manager  Grade Range - To: Principal Manager

Job Description

• Ensure that First Bank delivers superior level of customer service in Trade Services for Corporate Banking customers
• To provide consultation to RMs / customers in structuring transactions
• Assist in the marketing of Trade Services to active and non-active customers, seeking referrals from client base, including tracking transaction statistics and limit utilization
• To ensure compliance of all internal procedures and operations controls.
• To identify process re-engineering opportunities for improved business practices and cost savings and continuously upgrade the Quality Management Systems in the department
• Ensure that Trade Finance Services provides value added consultative services to its internal and external customers, proposing trade solutions that will customize customer’s financing to reduce working capital
• Co-ordinate activities of the Unit in accordance with identified bank goals to obtain optimum efficiency, and maximize profits by performing the assigned duties personally or through subordinates. Maintain a close working relationship with team colleagues, sharing information and working together to deliver a high-quality support to service users (internal and external customers).
• Serves as the key liaison person for RMs within the unit and carries out tasks and activities relating to trade transactions for various RMs. Also, shall act as the Risk Self-Assessment (“RSA”) facilitator (as and when called upon) on trade transactions for the business units and business processes and supports smooth conduct of trade transactions
• Maintain awareness and knowledge improvement environment and develop theory and methods to improve same for members of staff within the Bank
• Uphold, safeguard and promote the bank's activities in the Forex utilization in a way that does not contravene the rules and regulations of the CBN
• Anticipate research and report on future changes in import/export laws and in relevant local territory practices, and ensure such knowledge is factored into the planning of the BU’s own strategy, resources and procedures.
• Maintain and share with colleagues as appropriate, personal knowledge of all relevant import/export law and procedures; tariffs and duties; licenses and restrictions
• Plan and implement import/export strategy and activities consistent with overall growth of our market share.
• Manage all staff reporting to the position to effectively train, evaluate, motivate, delegate and monitor their activities
• Use personal judgments and initiative to develop effective and constructive solutions to challenges and obstacles in import/export activity and procedures
• Supervise Team Lead 1 which oversees form M Processing, LC establishment, cash confirmation, clean line, loan booking, etc.
• Supervise Team lead 2 - which oversees Export, Bills for Collections, invisibles (PTA /BTA)
• Authorization of confirmation and refinancing of letters of credit on Finacle – UNLIMITED AMOUNT
• Direct supervising of ESTACODES and Payments of Management Allowances such as medicals leave allowances, etc.
• Authorize and coordinates Emerging corporate transactions and forging transactions trade dynamics
• Direct Supervision and coordination of Standby letters of credit issuance, oil transactions, performance bonds
• Attend to enquiries and correspondences and interface with internal and external regulatory bodies such as CBN, DPR, NEPC, EFCC, ETC
• Authorizes release of L/C and other Swift messages (MT 202 & MT103 MT700, MT707, MT799, MT999) to correspondent banks $200,000 -$1,000,000
• Initiation and coordination of Internal Reconciliation of open items, cash covers, offshore interests, verification of the various Returns to regulatory bodies

Qualifications

• Minimum experience – 15-year relevant working experience in foreign operations

Other Requirements:

• In-depth knowledge of Trade Services products, mechanics and risks
• Detailed knowledge on Trade processing and operations
• Strong business sense and commercial judgment
• Good communication and interpersonal skills.
• All round managerial / leadership qualities
• Detailed knowledge of the bank's mainframe system, and its related systems would be an advantage.
• Good knowledge of Local and foreign Laws and Regulations as it relates to International trade
• Knowledge of various Trade Products and mix to maximize profitability for the bank as well as the importer.
• Must have an in-depth knowledge of import/exports, LC’s, trade transactions, FX rates and banking procedures and charges including that of risk participation.
• Have strong commercial acumen with the ability to analyze the impact of FX and interest rates and delays in shipments on the business
• Thorough knowledge in various ICC publications especially UCP 500 & 600, ISBP, ISP 98, URR 525, URC 522, CBN Foreign Exchange Manual, various ICC publications.
• In depth knowledge of analysis of Standby terms including that of risk participation and syndication and all types of bonds and guarantees