GB1771 - LC Officer
About Gulf Bank
Gulf Bank was established in 1960 and has since progressed to becoming an
industry-leading financial services provider complemented by a large network of 55
branches strategically positioned in key locations across Kuwait.
The main groups of the Bank are Consumer Banking, Corporate Banking, International
Banking and Treasury.
To complete all issuance, amendment and settlement of Letter of Credit / Guarantees / Bills / Collection, Document Checking and check all incoming and outgoing communications in order to ensure that all processes are completed timely and accurately.
Initiate processing of LC, LG, Collection & Bills in the system to generate LC/LG Instrument / Arrival notifications and / or refusal advices to correspondent for discrepant documents / Settlement and thereby obtain accurate financial data related to LC/LG/Coll and documents.
- Supervise work and workflow of staff.
- Ensure blockages are resolved.
- Handle more complex issues and problems.
- Plan work rotations and schedules.
- Provide day-to-day supervision and oversight of the team’s work and handle HR issues.
- LC / LG Issuance/Amendment & Settlement of Coll/Bills/Claims
- Authorize and sign LC/LG instruments, Amendment thereto, Settlements, Closures/Cancellations and related swift messages.
- Ensure documents are checked against LCs in line with terms and conditions or collection instruction.
- Ensure required documents have been provided (i.e. commercial invoice, certificate of origin, packing list, airway bill or bill of lading etc.).
- Ensure compliance with international trade rules and internal guidelines.
- Address issues such as inadequate documentation.
- Follow-up with customers on discrepant documents and communicate details of refusal/acceptance of LCs.
- Ensure unresolved cases are reviewed and closed.
- Handle major customer enquiries.
- Communicate with clients on arrival of documents in order to avoid payment of demurrage charges.
- Authorize initial processing, liquidations, acceptances, negotiation and sign related swift message.
- Ensure follow up and timely closure.
- Report on documents in hand and completed.
- Follow up processing schedule.
- Send advices to negotiating bank promptly.
Corporate governance & compliance:
Work fully within:
Education, Knowledge, Experience and Skills:
Education / Qualifications:
Graduate in any commercial discipline
Knowledge of bills procedures and practices; Knowledge of documentation requirements etc
Overall 5 to 7 years in Trade Finance with 3 to 5 years in similar role
Generic & Specific Skills:
Excellent Communication Skills
Bilingual in Arabic and English
Computer literacy (MS Office)
Sound knowledge of UCP600, ISBP2007, URR725, URC522, URDG758 & ISP98 and Swift formats.
Note: you will be required to attach the following:
1. Resume / CV