Trade Finance Operations Specialist

Position Overview

We are seeking a highly motivated and detail-oriented Trade Finance Operations Specialist to join our dynamic team. In this pivotal role, you will be responsible for ensuring the seamless execution of trade finance transactions, including Letters of Guarantee (LGs) and Letters of Credit (LCs), while adhering to regulatory requirements and internal policies. Your expertise will contribute to maintaining operational excellence, mitigating risks, and enhancing customer satisfaction.

Key Responsibilities

The Trade Finance Operations Specialist will play a critical role in the following areas:

• Policy and Procedure Compliance: Adhere to all departmental policies, processes, and standard operating procedures to ensure consistent and controlled workflow execution.
• Transaction Verification and Release: Verify and release Letters of Guarantee (LGs) and Letters of Credit (LCs) for corporate customers, ensuring alignment with customer limits, regulatory instructions, and internal guidelines.
• Limit and Condition Validation: Review and validate customer limits and conditions to ensure all LG and LC applications comply with established parameters.
• Authorization and Escalation: Route LGs beyond predefined limits to the appropriate authorities for approval or rejection, following the established authority matrix.
• Document Verification and Processing: Receive and verify export LCs from correspondent banks, ensuring accuracy and compliance. Liaise with front-line staff, such as Relationship Managers, to advise customers and resolve discrepancies.
• Remittance and Document Handling: Receive and verify documents from remitting banks to ensure completeness and accuracy before processing transactions. Seek guidance when necessary to resolve issues.
• System Entry and Maintenance: Enter verified documents into the system, ensuring data integrity and accessibility for future reference.
• Risk Identification and Reporting: Identify and report potential breaches or irregularities in operations to contribute to their resolution and prevention, safeguarding the organization’s interests.
• Quality and Efficiency Controls: Execute all operational controls in a structured and streamlined manner to achieve high-quality processing and timely service delivery.
• Process Improvement: Contribute to the identification and implementation of opportunities for continuous improvement, leveraging international best practices to enhance business processes, reduce costs, and boost productivity.
• Reporting and Compliance: Assist in preparing accurate and timely reports for Riyad Bank, ensuring compliance with company policies, standards, and regulatory requirements.
• Health, Safety, and Environmental Compliance: Comply with all relevant safety, quality, and environmental management policies to maintain a healthy and safe work environment.
• Additional Duties: Perform other related duties or assignments as directed by management to support the overall objectives of the department.

Qualifications and Skills

To excel in this role, candidates must meet the following criteria:

• Education: Bachelor’s degree in Business, with a preferred specialization in Finance or Accounting.
• Experience: Minimum of 4-6 years of relevant experience in the banking sector, with a focus on trade finance operations.
• Language Proficiency: Advanced proficiency in English.
• Technical Knowledge: Strong understanding of trade finance products and related international and local regulations.

Preferred Competencies

The ideal candidate will possess the following skills and abilities:

• Communication Excellence: Ability to listen actively, articulate ideas clearly, and engage effectively with stakeholders to achieve desired outcomes.
• Digital Orientation: Proficiency in leveraging digital technologies to solve problems, innovate, and collaborate efficiently.
• Service Excellence: Commitment to understanding and proactively addressing the needs of internal and external customers to deliver exceptional service.
• Risk Orientation: Aptitude for anticipating and managing risks to protect the organization, customers, and stakeholders from potential adverse impacts.
• Stakeholder Management: Skill in engaging with stakeholders, understanding their needs, and building consensus to achieve organizational goals.
• Building High-Performance: Ability to guide, motivate, and develop individuals and teams to meet performance expectations and drive continuous improvement.

If you are a detail-oriented professional with a passion for trade finance and a commitment to operational excellence, we invite you to apply for this exciting opportunity to contribute to our organization’s success.