Senior Trade Finance Advisory- Cairo, Egypt
We empower our people to stay resilient and relevant in a constantly evolving world. We’re looking for people who are always searching for creative ways to grow and learn. People who want to make a real impact, now and in the future. Does that sound like you? Then it seems like you’d make an outstanding addition to our vibrant international team.Join us as Senior Trade Finance Advisory in Siemens Egypt and help us re-imagine the world by finding solutions and making the world a more inquisitive place for tomorrow.You‘ll make an impact by:
What are my responsibilities?
·Consulting in all areas of Letter of Credit such as issuance of LC drafts, support for wording of payment terms, clearance of Discrepancies, implementation of electronic notification of LC's to the HQ from financial institutions, checking and processing of LC documents to Financial Institutions as well as negotiation of bank charges for LC business.
·Maintain proper records on all incoming Letter of Credits, LC amendments, SBLCs' advised as well as direct from Bankers and co-ordinate with respective Sectors/ Divisions/BU's this is done in order to ensure that Siemens risk is hedged and Divisions delivered goods in line with LC terms & conditions.
·In receipt of LC documents/collection order documents for further negotiation with banks; from Sectors/ Divisions, ensure to process them all on time with proper Bill of Exchange and company covering letter with complete company bank account details of the credit at maturity and make sure all the documents are presented as per LC T&C.
·Monitoring and ensuring to get an update on all documents submitted to bank, on time as per UCP 600 and make sure that the bills has got accepted and credited into company account on time and Divisions cash inflows targets are met timely
·Ensure and negotiate with all banking partners to get their best and excellent services on time with lowest bank charges including LC advising, confirmation charges, Discounting charges, SOR Charges and LC negotiation commission etc.
·Follow up with divisions for all upcoming LC expiration, shipment dates and LC document presentation period to ensure smooth working of LC Business and there by achieving the Divisions targets from both technical and commercial aspect
·Ensure all forecasted cash-in/out flows got actual under Letter of Credit business with close follow-ups and tracers with banking institutions to meet the cash-in/out flow target.
·Provide all required details under LC business to Accounting team for proper AR adjustments/AR clearings in SAP and for provision bookings during closing time
·Support the business in the issuance, maintenance and payment of the import LC on timely manner.
·Monthly reconciliation of the LC business maintained in the system with the banks.
·Make sure that the documentation presented to the bank is matching with the import LC conditions.
·Support in Bank Guarantee Business in co-ordination with banking partners and internal stakeholders, also regularising GREAT as a TFA Team member and be a focal point for any local support.
·Reporting to TFA Hub on volume of Letter of Credits got issued by our customers with Siemens as the beneficiary for the projects, products, and services business with its total values. LC monthly/quarterly cash inflows including LC discounting done on division wise
·Support the business to send/collect and follow-up the Cash against documents (CAD)
·Support to submit appropriate form 4 documentation to the banks and make sure that form 4 is issued/received as per the SLA with the banks.
·Responsible for the monthly closure of the open form4 that have been paid in alignment with the bank's outstanding position.
·Monthly reconciliation of the bank charges related to the trade finance transactions
·Support the business in customer’s negotiations for any foreign currency’s Trade finance transactions to comply with the CBE regulations.
What do I need to qualify for this job?
·3-5 years of hands-on experience in dealing letters of credit and guarantees / SBLC so that these could be structured in line with Contract terms and conditions to mitigate risk.
·Very good command of both spoken and written Arabic and English languages
·Experience handling / structuring complex Letters of credit to mitigate payment risk