IDB2812 - Senior Associate, Disbursement

JOB PURPOSE

This role is responsible for timely disbursement of financing for the allocated regions/clients by preparing and executing the requisite compliance and administrative requirements as per the prescribed disbursement process. In addition, this role is also responsible for retrieval of payments received, liaising with banks and updating clients with relevant information pertaining to their financing on a routine basis.

KEY RESPONSIBILITIES

• Participating in overall effectiveness of the Operations Department and back-up other team leader/members in case of need to ensure all essential and best quality service levels for both clients / syndication participants / inter departments with focus on the turnaround time on disbursement requests .
• Ensure all diarized events (i.e. L/C and collection due dates, Acceptance, SBLC Fees etc) are processed.   
• Communications with Trade Finance Department to ensure that trade finance facilities and all required documentation are in place including participation with the RMs to improve financing operations based on past experience.
• Dealing and communicating with clients/relationship managers/syndication participants/other stakeholders for any transactional issues and updates pertaining their operational requests.  Ensure all Internal Compliance/Anti-Boycott/OFAC requirements/ covenants for disbursement are adhered to.
• Establishment/amendment irrevocable commitments for reimbursements (ICR) by following the ITFC procedures.    
• Following the prescribed disbursement process laid down in accordance with the approved payment methods selected and financing mechanisms.
• Examining claims received under ICR to further proceed with disbursements
• Checking documents received from clients under open account requests to further proceed with disbursements.
• Sending invitations to syndication to participate on the extent of drawdowns as ITFC being the Lead Arranger (Mudarib).
• Handling all swift messages for disbursements/receivables
• Issuing instructions to pay to the ITFC Treasury when another bank is the Lead Arranger (Mudarib) in a syndicate deal and update the ITFC finance department accordingly.
• Booking all transactions in to Operations main system i.e IMAL with 100% accuracy.
• Internal liaising with Finance Department HQ for accounts debit and credit reconciliation, ensuring that these are recorded in the books of accounts.
• Sending monthly updates to clients summarizing the status of each of their operations under disbursement.
• Liaising with correspondent banks to resolve any issues and ensuring disbursements are properly effected.
• Monitor the collection of fees/commissions on LC, SBLC to advise Finance Department for reconciliation purposes.
• Handling export documents under Documentary Collection and monitoring tools
• To be a team player and acceptance Ad-hoc duties assigned time to time by the Division Manager.  

Qualifications & Other Certifications

• Bachelors/Graduate degree in Business administration, Commerce, Finance or Economics 

Language Skills

• English and French are compulsory

Years of Experience

• Minimum two (2) years in a similar role in Banking/Trade Operations function/ Treasury back office