Senior Trade Analyst, Letter of Credit Establishment and Amendment

• To implement a trade clear vanilla letter of credit transactions for Union Bank Nigeria across the Corporate, Commercial & Retail Banking segment while remaining aligned with the Group Trade strategy.

• Provide operational support for Letter of Credit Issuance to the Transaction Banking teams as well as Corporate, Commercial & Retail Bank coverage Relationship managers’ bank wide in order to meet and exceed trade product revenue, volume targets and market ambitions.

• Provide advisory and operational support to the Relationship managers to ensure quality service to the customers so as to drive Trade volume & revenue growth.

• Liaising with corporate, retail & commercial bank relationship managers to provide tailor made solutions to customers’ needs and enquiries in order to improve the banks trade image and generate increased trade volumes.

• To provide inputs for developing and managing the vanilla trade services and products especially as it concerns processes that will increase efficiency, reduce TAT on letters of credit issuance

• To ensure that there is no income leakages on letters of credit established

• Responding to enquiries from offshore banks either through MT799 or via e-mail

• Updating the FX schedule with customers bid request.

• Movement of funds provided for the establishment of letters of credit.

• To liaise with Transaction banking, CBG & Commercial Banking teams in order to provide tailor made Letter of Credit Issuance to our customers

• Implement trade operational strategies and initiatives to capture different structured Trade commodity Finance opportunities, grow active trade customer base and revenues.

• To implement efficient processes that will ensure strict adherence/compliance to internal policies & procedures, local exchange control rulings and international standard/best practices in the processing of the Letter of Credit.

• To adhere to policies that guarantees that all the Letter of Credit Issuance processes are executed accurately and expeditiously within agreed SLA’s.

• To follow through to implement Letter of Credit Issuance checklist and ensure that letters of credit transactions are authorized on Trade Innovations & within operating limit

• To ensure charges on Letters of Credit, Issuance are correctly taken with the right concession

• To ensure all customers bid request are captured on bid schedule and also avoid duplication or excess bids

• Immediate dealing on all outstanding reconciliations items to ensure they are expunged within 2 working days.

• Review of all incoming SWIFT messages to identify messages relevant to supervising area and drive the accurate & expeditious processing of same.

• Timely response to relationship team as well as correspondent banks on all issues affecting the Letter of Credit issuance.

• Introduce benchmark and best practices to promote risk awareness

Key Competency Requirements:

Job Knowledge
• In-depth knowledge of the various systems used within the Foreign Operations environment
• Knowledge of corporate banking and the interface between frontline service, sales and support functions
• Knowledge of banking transaction processes relevant to products and services offered to customers
• Practical knowledge of how to input, access and utilize information to analyse forecast trends
• Knowledge of the applicable legislations
• Must demonstrate a thorough understanding of Trade Finance, Processes and its processes
• Good exposure to trade operation and Financial Institutions
• Understanding of regulatory and compliance requirements.
• Firm understanding of CBN & ICC regulations
– Process / project management experience will be an added advantage
– Managing projects
– Proven track record in leading a trade business Operations and a team of trade professionals in Foreign operations
– Must demonstrate a thorough understanding of Trade Finance, Processes, Product and Risk Management
– Good exposure to trade operation and Financial Institutions
– Sound knowledge of Structured Trade and Commodity Finance

Skills/Competencies:

• Display initiative and drive, is a self-starter and works with energy. Readily assume greater responsibility, is not easily discouraged and is realistically ambitious.
• Have the ability to adjust thoughts and behaviour to rapidly changing situations and conditions, cope with the unexpected. Have the ability to withstand adverse advents and stressful situations without falling apart.
• Have the ability to identify and define problems as well as generate and implement effective solutions. Must be self-reliant and self-directed in one’s thinking and be free of emotional dependency. Be able to make calculated and tough decisions in a reasonable time frame.
• Risk identification and assessment skills
• Negotiation skills
• Excellent interpersonal and communication skills (across the business)
• Strong customer focus and service orientation
• Creative, analytical with good problem solving skills
• Conflict management skills and ability to manage ambiguity
• Self-driven, values based, innovative, independent adaptive and results orientated person
• High emotional intelligence
• Strong business acumen and ability to translate strategy into business plans