Letter of Credit Executive

Trade Finance Specialist - Energy and Commodities industry (DRY BULK)

Location: CBD

Description

• Perform all functions related to trade finance, including preparation, processing, and handling of trade finance instruments.
• Issue import letters of credit, standby letters of credit, guarantees, bid bonds, performance bonds, and other trade finance instruments to suppliers and counterparties.
• Verify the compliance of export letters of credit and documents against contracts and import letters of credit.
• Recommend necessary amendments and revisions to ensure the usability of all trade finance instruments.
• Create commercial invoices, beneficiary certificates, insurance certificates, and other required ELC documentation.
• Manage trade settlement, import payments, trust receipts loans, export negotiation, and account receivables financing.
• Enter payments into the bank's online platforms for funds transfer, payments, lines rebooking, and other purposes.
• Record and update trade progress on the in-house system platform.
• Monitor payables and receivables of counterparties on in-house systems.
• Coordinate with banks for bank limits confirmation, discounting, FX/treasury matters, and other related tasks.
• Collaborate with traders, trade execution teams, and accounting to resolve execution issues and provide assistance where necessary.
• Assist with the yearly audit process by sharing trade documentation and answering trade-related questions.
• Gain familiarity with banking facilities, structures, and limits to practically apply them to physical trades and maximize leverage.
• Help with cargo insurance declarations and perform KYC of counterparties when required.
• Assist in bank account opening procedures.
• Generate ideas and apply business knowledge to facilitate innovation and process improvements.

Requirements

• The candidate must be already based in Singapore
• At least 4 years relevant experience in commodities trade finance (oil, enery, bulk, metals, agri) within a trading house or bank
• Understanding of UCP600, URC, ISBP and Incoterms

EA Licence no. 18S9419 | EA Personnel no. R2197703