Specialist - Trade Services (Letter of Credit - Issuance, Amendments & Cash Confirmation) At First Bank of Nigeria Limited

Job Details

Job Title: Specialist - Trade Services (Letter of Credit - Issuance, Amendments & Cash Confirmation) At First Bank of Nigeria Limited
Organisation: First Bank of Nigeria Limited
Location: Lagos State
Min Work Experience: 1 year(s)
Qualification: B.Sc
Industry: Banking
Course: Related Discipline
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First Bank of Nigeria Limited (FirstBank) is Nigeria's largest financial services institution by total assets and gross earnings. With more than 10 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal, as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.

We are recruiting to fill the position below:

Job Title: Specialist - Trade Services (Letter of Credit - Issuance, Amendments & Cash Confirmation)

Location: Lagos
Job Schedule: Full time

Job Objective(s)

  • To establish letters of credit with correspondent banks

Duties & Responsibilities

  • Responsibility of issuing documentary letters of credit.
  • Ensure that the terms of LC’s are clearly understandable and compatible with the broad parameters of the international chamber of commerce and CBN manual.
  • Ensure uniform customs and practice for documentary credits as well as shipping terms and practices are adhered to.
  • Verifies all documentation for accuracy and completeness, ensure that all documentation is evaluated and adheres to bank policies and procedures.
  • Ensure that proper drawing instructions are given to the advising and reimbursing bank regarding drawings under the documentary letter of credit.
  • Maintain register for all types of LC’s.
  • Reporting of monthly forex utilization.
  • Timely utilization of forex allocated for cash covered l/cs.
  • Regular correspondence with banks regarding processed transactions.
  • Daily CBN reporting.
  • Seek approvals when necessary from CBN as regards transactions.
  • Maintains and updates customer utilization registers for customer’s USD line.
  • Account proofing.
  • Ensures transactions are flown through the fSS workflow.

Job Requirements
Education:

  • Minimum Education: First Degree in any discipline

Experience:

  • Minimum experience - 1 year working experience in foreign operations
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