Role Summary

You will be responsible and accountable for assisting managing the Import L/Cs Settlement function in the Group by ensuring the timely settlement of the import L/Cs in a way that supports the business units and ensures a good working relationship with the Group’s clients.

Role Description

Ensure that the information disclosed to the stakeholders with respect to settled import LCs is complete, accurate and provided on a timely basis.

Liaise with Group Compliance on QCB related compliance issues, as and when required.

Act as liaison to banks, beneficiaries, attorneys, clients.

Liaise with internal and external clients in order to meet their needs in a timely and accurate manner.

Coordinate with QNB Section Heads and Managers involved in transactions relating to Import Letters of Credit settlement to ensure efficient handling of operations.

Supervise and oversee the daily and monthly balancing of Trade Finance Operations records to reflect the actual liabilities of QNB and clients.

Coordinate with QNB Managers to ensure that outstanding balances of project finance clients do not exceed limits, and dues/ past dues are followed-up on daily basis.

Prepare and submit reports to manager settlement to monitor workflow and income in addition to the monthly and quarterly reports.

Ensure efficient processing and handling of Import Letters of Credit settlement with strict compliance to QNB policy and procedures and International Chamber of Commerce Rules.

Verify accuracy and correct processing of all section work before authorizing, to secure the position of QNB and its clients.

Verify Swifts of transactions relating to settlement Import Letters of Credit.

Supervise staff of Import Letters of Credit Settlement Unit

Review settlement value of documents, sight, acceptance, DCF and past dues in same value dates ensuring full funding coverage with FX and Credit Dept. to avoid loss due to delay of payment interest.

Ensure timely reconciliation of the branch's accounts with the local regulator, local/ foreign banks and ensure that there are no outstanding entries for rectifications for a long period.

Monitor all facility utilization, as well as system amendments versus approved personal loans.

Prepare and submit reports to manager settlement to monitor workflow and income in addition to the monthly and quarterly reports.

Recommend changes and improvements to policies and procedures pertaining to Letter of Credit settlement.

Responsible for ensuring collateral fees assessed are reasonable.

Approve transactions prepared by team.

Negotiate complex Letter of Credit information for backstop credits as related to payoffs and new business.

Provide guidance to loan closing, marketing and loan administration departments as required for Letter of Credit support.

Support International Branches and Subsidiaries

Manage staff to develop their knowledge skills to safeguard QNB and clients against ambiguous transactions.

Make sure that Business Continuity measures are coordinated and controlled within the department

Qualifications

University graduate in Business, Finance or Accounting.

A minimum of 8 Years in a similar or related experience with 1 year of experience at a managerial level

 

Required Special Skills:

• Knowledge and practical application of the current Int’l Chamber of Commerce Rules (uniform customers for Documentary Credits UCP600, Uniform Rules for Reimbursements URR525, stand-by Letters of Credit ISP98, Incoterms 2010 current revision).

• Must have loan servicing industry experience.

• Thorough understanding of Letter of Credit concepts.

• General understanding of lending principles.

• Computer proficient and knowledge of MS Office applications, bank and database applications.

• Excellent written and oral communication skills in English (and Arabic preferably).

• Must be detailed and multi-task oriented.

• Organized and able to work independently using good business judgment.

• Excellent leadership skills.

• Support International Branches & Subsidiaries