Manager, Trade Finance

  • Purpose of the jobManage and control commercial services (LCs / Gtees/ & Collections) and ensure that all production and schedules are within the authorized credit lines and that the quality standards are met at a minimum cost.
  • Principal Deliverables/AccountabilityPlan, organize and control commercial services products within the authorized credit lines to meet targeted income/production/schedules and quality standards at minimum cost.

    Review product quality against specification to minimize customer complaints and returns.

    Develop and maintain effective relationships with key customers to identify business opportunities and ensure their successful exploitation.

    Provide sound service advice to AGM, Corporate Banking Division/ International Division on the financial implications of current and proposed courses of action.

    Suggest ways to increase income reduce expenses.

    Interface directly with various departments e.g. Automation Services Division pertaining to computerized application and systems to ensure a smooth transition and migration.

    Review, approve, amend and correct the application forms and ensure that it is in compliance with all governing laws of Kuwait and International Chamber of Commerce.

    Implement credit policies and procedures and ensure that the Banks exposure and portfolio are protected under acceptable risk.

    Develop user’s manuals and procedures to provide staff with proper guidelines in the performance of their individual deliverables.

    Review official reports submitted to external regulatory authorities, e.g. Central Bank to ensure accuracy of information.

    Plan and develop specific performance objective for Supervisors, appraise job performance and individual training needs and analysis.

    Plan, develop, schedule, approve and implement all staff related issues i.e. staff employment status, salaries and benefits, training and development needs, absence, etc. In order that the business needs of the Bank are met in cost effective manner.

  • Job Context and ContentsThe Job holder has considerable business and financial impact in the Bank. It involves a wide range of direct and indirect communication with key personnel of senior level of various companies and establishments. Close contacts with domestic and international correspondents require considerable amount of tact, courtesy, diplomacy and negotiating skills to minimize Bank’s risk and disputes.
  • Problems FacedProblems encountered are legal in nature. Legal opinions of International Chamber of Commerce banking commission and Kuwaiti Commercial Law are often confronted and challenged.

    Reconcilement of reports prepared / compiled by the department with external regulatory authorities. Usually, additional data information is required from various departments in order to meet the Central Banks new requirements.

    Incomplete credit approvals in terms of type of transactions already executed by the credit committee which in some cases are exposed to potential risk.

  • Planning and organizationDirectly responsible for planning and organizing the departments manpower – related issues, budget forecast and implementation, automation systems and the like.

    All key plans are initiated, developed and prepared by the Job Holder for discussion with AGM – Operations Division and other Senior Level management.

  • Decision making authority and controlsThe job holder has the shared direct authority and control to accept and /or reject LCs/LGs applications of customers. Exceptions of high financial value are referred to higher authority.
  • Knowledge and experience required for the job :University degree in Business Administration, Economics or other related studies plus a minimum of ten (10) years experience in Commercial Services specially in Letters of Credit ( 5 years of which should be in managerial level) / Higher secondary school plus a minimum of 15 years experience in Commercial Services ( 10 years of which should be in managerial level).

    Knowledge of credit, treasury and international banking related to Commercial Services matters, Kuwait Commercial Law related to LCs/LGs/Bills discounting/Collections. Excellent knowledge of International Chamber of Commerce Publications concerning Trade Finance.

    Excellent communications skills; proficient in English.

    Good knowledge of Arabic ( Read and Speak)