Trade Finance Executive at Ascentech Services Limited

Ascentech Services Limited is a full-fledged Human Resource Solution Provider incorporated in 2013 with its Head Office in Lagos, Nigeria. We are committed to forging long-term partnerships with our clients by creating and delivering robust and flexible services that address the changing needs of their business.

We are recruiting to fill the position below:

Job Title: Trade Finance Executive

Location: Lagos

Responsibilities

• e-Form ‘M Coordination: - Registration, validation, amendment, cancellation, extension and substitution for Letters of Credit, Bills for Collection and Not Valid for Forex e-Form ‘M’
• Thorough engagement with banks on letters of credit from the point of initiation to conclusion
• Responsible for monitoring other mode of payments such as bills for collection and Not-Valid-for -Forex until fund is confirmed received by the beneficiary.
• Review of pre- and post-negotiation interest charges on letters of credits against unscrupulous debits and recover excess charges if any.
• Review transaction charges such as LC commission, bills for collection commission, swift charges, amendment charges etc.
• Review all trade documentation to ensure completeness and compliance
• Manage interactions with banks on trade-related transactions.
• Prompt resolution of trade issues such as delayed transaction processing, problematic transactions, rejections and fast-tracking release of shipping document for consignment clearance at the port.
• Periodic review of banks’ current account statements with respect to trade transactions and recoup excess charges if any.
• Reconcile account statements such as Collateral, advance payment guarantee, fixed deposits, domiciliary and other designated accounts. All appropriate entries are also passed.
• Reconcile the company’s overseas accounts including our accounts with overseas subsidiaries and advises the CFO on the activities flow.
• Communicate with overseas suppliers concerning international standards and best practices in accordance with International Chambers of Commerce (ICC) and statutory local regulations.
• Manage overseas suppliers’ enquiries regarding trade finance.
• Coordinate reconciliation of overseas suppliers’ accounts to ensure receipt of items paid for.
• Maintains letters of credit register to ensure all established Letters of credit transactions are completed within its validity period and reconciles outstanding shipments, excess shipments, shortfalls in payment, shortfall and/or excess foreign exchange allocations.
• Periodic report on all trade finance related obligations for internal use.
• Keep records of all bank loan obligations and the respective repayments schedule. Also passes appropriate entries in accordance with the repayment and interest schedules.
• Relates with the procurement unit on the overseas purchase needs and proffers required financing guide.
• Keep updates of new regulations from all relevant regulators.
• Liaise with relevant authorities such as Nigeria Customs Service, Central Bank of Nigeria etc. on trade-related issues and approvals.
• Keep records of the company’s investment portfolio such as capital importation, treasury bills and advises on the appropriate derivatives contract to be booked.
• Review import finance facilities from the banks and advise the CFO appropriately for management approval.
• Management of consignments insurance with the respective insurance firms.
• Manage the trade finance team.
• Other responsibilities as may be assigned by the CFO.

Requirements

• Candidates should possess a First Degree.

Behavioural Skills:

• Attention to details
• Great Interpersonal skills
• Relationship management
• Professionalism & Poise
• Good working ethics
• Good oral and written communication skills

Application Closing Date
12th September, 2022.

Method of Application
Interested and qualified candidates should send their CV to: cv@ascentech.com.ng using job title as the subject of the mail.