BLOG       ABOUT UBN     INVESTOR RELATIONS      CSI

Team Lead Letter Of Credit Negotiation/Payment Obligations

Team Lead Letter Of Credit Negotiation/Payment Obligations
Team Lead Letter Of Credit Negotiation/Payment Obligations
March 25, 2025 Abisola Oluyede
Nigeria
Posted 1 month ago
Job Summary:
Provide overall strategic leadership for the management for Letter of Credit, Negotiation & payment Team,  Import Trade Facility (ITF) team and Trade Finance teams as well as ensuring  operational efficiency & effectiveness bank wide for Corporate, Commercial & Retail banking Groups to drive trade volume & revenue growth.
Duties & Responsibilities:
• Provide strategic leadership, direction and operational support to the Relationship managers to ensure quality service to the customers so as to drive Trade volume & revenue growth.
• Provide strategic Leadership to the Letter of Credit Negotiation, Payment & Import Trade Facility (ITF) team, strategic advice and support 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.
• Working with corporate, Retail & commercial bank coverage teams, all internal and external stakeholders to ensure that customers, key industry sector’s trade services and trade finance needs in the key trade corridors are constantly assessed, innovative and differentiated value adding trade products and services are proactively developed to meet those specific customer’s needs as to generate new and enhanced revenue streams while contributing to the growth of our customer’s share of trade wallet and our industry market share.
• Direct responsibility for developing and managing the vanilla trade services and products (local, international and regional trade) as well as Import Trade finance (ITF).
• Provide efficient and effective planning and management of the people, systems and processes within the Letter of Credit Negotiation & payment team so as to provide a level of operational efficiency and customer intimacy required for best customer experience and minimize operational losses as well as ensure good external relationships
• Formulate and articulate a trade clear vanilla Import Trade Facility (ITF) and supply chain finance products operational strategy and leadership for Union Bank Nigeria across the Corporate, Commercial & Retail Banking segment while remaining aligned with the Group Trade strategy.
• Responsible for handling complex Trade payment & Negotiation operational structures and managing Import Trade Facility (ITF) products operations.
• Working with Transaction banking, CBG & Commercial Banking teams, design value adding and customer centric operational payment & Negotiation strategy and finance products solutions and structures by proactively gaining client insight through consultative customer engagements in the key sectors of industry within our bank and trade target market.
• Devise trade operational strategies and initiatives to capture different structured payment opportunities, grow active trade customer base and revenues.
• Responsible for the generation & Management of accurate Import Trade Facility (ITF), Trade loan maturity profile, Clean line letter of credit utilization & unconfirmed Letter of credit reports for management decisions.
• Develop the Operational dynamics of local/supply chain finance as well as international trade flows and corridors with a view to constantly attract key market opportunities, assess market changes and trends, growth ambitions and proactively identify competitive threats
• Develop efficient process that will ensure strict adherence/compliance to internal policies & procedures, local exchange control rulings and international standard/best practices in the processing of Letters of Credit Negotiations, payment & International Trade Finance Loan booking (ITF).
• Formulate a policy that guarantees that all Letters of Credit negotiation, payments & IFT Booking processes are executed accurately and expeditiously within agreed SLA’s.
• Check and authorize transactions on Trade Innovations & within operating limit
• Develop & Maintain a robust record of Matured obligations that will help Treasury and Transaction Banking better manage liquidity projections
• Overall Responsibility for the management of the Trade assets of the banks, booking & liquidation of Import Trade Facility (ITF). Responsible for regular ITF interests recognition.
• Responsible for negotiated shipping documents examination & acceptance.
• Develop a strategy that Guarantee the quality of bid schedules  to mitigate duplication or excess bids
• Review of all incoming SWIFT messages to identify messages relevant to supervising area and drive the accurate & expeditious processing of same.
• Effective Communication with clients, branch managers, senior management as well as correspondent banks on all issues affecting Letter of credit Negotiation, Payments
• Introduce benchmark and best practices to promote risk awareness
• Responsible for the compliance to recommendations made in Routine Internal Control Officers’ reports.
• Drive prompt resolution of enquiries and queries received from foreign banks and customers.
• Formulate & Drive effective cost control strategy
• Responsible for Repatriation of unutilized LC balances to CBN & Application of the Naira proceeds to customer.
Key Performance Indicators:
• Increased Volume of Trade business & Revenue.
• Improved product knowledge to drive innovation & Flexibility within the confines of existing regulations.
• Improved Internal Customer Satisfaction Survey
• Satisfactory Internal Audit Assessment
• Reduced Turn Around Time on Transactions
• Motivated and committed workforce with reduced staff attrition rate
Job Requirements:
Qualification:
• A Good First Degree (B.Sc.).
• Relevant Master’s Degree And Other Professional Qualification Will Be An Added Advantage
Experience:
• Minimum of 7 years’ experience in banking operations, the last 3 of which must be in Foreign Operations’ functions, Trade Services and Finance.
Key Competency Requirements:

Job Knowledge

• Knowledge of corporate banking and the interface between frontline service, sales and support functions
• In-depth knowledge of the various systems used within the Foreign Operations environment
• Knowledge in leading a trade business Operations and a team of trade professionals in Foreign operations
• 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
• Knowledge of banking transaction processes relevant to products and services offered to customers
• Practical knowledge of how to input, access and utilize information to analyze forecast trends
• Working knowledge of capacity management principles and processes
• Knowledge of cost management principles and practices
• Knowledge of the applicable legislations
• 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
• Understanding of regulatory and compliance requirements

Skills/Competencies

• 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
• Risk identification and assessment skills
• Financial Analytical/interpretation Skills
• Documentation/Reporting Skills
• Good Relationship management skills
• Team Building/Conflict management
• Strong problem solving and analysis skills
• General managerial/ administration
• Leadership/influencing
• Organization and coordination skills

Applications should be sent to talents@unionbankng.com

Apply For This Job

A valid phone number is required.
0 Likes