Trade Finance Officer DBMSC Steel FZCO

Overview:

The Trade Finance Officer will collaborate with finance, logistics and documentation teams to ensure letters of credit and relevant financial institution documentation is successfully executed

Responsibilities:

• Development of the trade finance banking strategy, ensuring best pricing and coverage of trade finance services to support the expanding business of the company
• Onboard new trade finance banks/institutions
• Review tenders and business projects to identify trade finance related requirements
• Review facility and security documentation for existing and new financing facilities
• Be the main point of contact for all banking related matters for Headquarters and the rest of the group
• Assist and interact with other departments within the Company (Sales Desk, Finance, Cash Control, and others) and support them with trade finance related matters
• To manage Trade Finance/Customs related documentation effectively and efficiently with suppliers and end-users
• Independently handle trade finance tasks for DBMSC Group including Essen Steel
• To vet purchase contracts and sales contracts
• To vet bank guarantee formats requested by customers and to liaise with the issuing bank for their issuance. The incumbent should raise any associated risks with guarantee and appraise the management
• MIS Reporting
• Possess knowledge of specifics of commodity trading deals including operational, documentation, and credit risks in general
• Working knowledge of Switch BL’s
• Interact with shipping companies, agents to provide BL instructions
• To understand customs procedures of countries where the Group ships the cargo and ensure the end-user can clear the cargo
• To negotiate with banks for pricing to discount LC Bills and Back-to-back deal pricing
• Co-Ordinate with Treasury and Cash management teams for outgoing and incoming fund requirements
• Track documents under Import LC and ensure payment instructions to banks are sent in a timely manner