Specialist - Trade Services (Letter of Credit - Issuance, Amendments & Cash Confirmation) at First Bank

Job Objective(s)

• To establish letters of credit with correspondent banks

Duties & Responsibilities

• Responsibility of issuing documentary letters of credit.
• Ensure that the terms of LC’s are clearly understandable and compatible with the broad parameters of the international chamber of commerce and CBN manual.
• Ensure uniform customs and practice for documentary credits as well as shipping terms and practices are adhered to.
• Verifies all documentation for accuracy and completeness, ensure that all documentation is evaluated and adheres to bank policies and procedures.
• Ensure that proper drawing instructions are given to the advising and reimbursing bank regarding drawings under the documentary letter of credit.
• Maintain register for all types of LC’s.
• Reporting of monthly forex utilization.
• Timely utilization of forex allocated for cash covered l/cs.
• Regular correspondence with banks regarding processed transactions.
• Daily CBN reporting.
• Seek approvals when necessary from CBN as regards transactions.
• Maintains and updates customer utilization registers for customer’s USD line.
• Account proofing.
• Ensures transactions are flown through the fSS workflow.

Job Requirements
Education:

• Minimum Education: First Degree in any discipline

Experience:

• Minimum experience - 1 year working experience in foreign operations