IDB2917 - Senior Manager, Disbursement

Business Unit: ITFC
Division: Not Applicable
Department: Not Applicable
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 04-Oct-2022


This role is responsible for the supervision of timely disbursement of operations approved by ITFC in accordance with terms and conditions agreed with clients by ensuring observance of requisite terms and conditions agreed with clients and ensuring observance of requisite compliance and administrative requirements as per the prescribed disbursement processes. This also includes liaison with other banks and clients, recording of payments received and updating relevant information, etc. 


  • Contributing and participating in the overall effectiveness of the Operations Department and providing back-up for other team leaders/members in case of need to ensure all essential and best quality service levels for both clients, syndication participants, and other departments with a focus on the turnaround time on disbursement requests.
  • Supervise and ensure all diarized events (i.e., L/Cs and Collections due dates, Acceptance, SBLC Fees etc.) are processed. 
  • Take the lead in Communication with Trade Finance Department to ensure that trade finance facilities and all required documentation are in place, including coordination with the Relationship Managers to improve financing operations based on experience.
  • Supervise all communication with clients/Relationship Managers/syndication participants/other stakeholders for any transactional issues and updates pertaining to their operational requests. Ensure all Internal Compliance/Anti-Boycott/OFAC requirements/covenants for disbursement are adhered to.
  • Ensure that LC’s establishment/amendments of Irrevocable Commitments for Reimbursements (ICRs) are in accordance with ITFC Guidelines, etc. 
  • Supervise staff to follow the prescribed disbursement processes laid down in accordance with the approved payment methods selected and financing mechanisms.
  • Clear claims received under ICR before proceeding further with disbursements.
  • Supervise staff in checking documents received from clients under Open Account requests before proceeding further with disbursements.
  • Sign all invitations to syndication participants to the extent of drawdowns as ITFC being the Lead Arrange (Mudarib).
  • Clear different types of SWIFT messages (ie. MT199, MT999, and MT7 series).
  • Supervise booking of all transactions in the core banking system with 100% accuracy.
  • Check and sign monthly updates to clients summarizing the status of each of their operations under disbursement.
  • Support staff in liaising with correspondent banks to resolve any issues and ensure disbursements are properly done.
  • Supervise the collection of fees/commissions on LCs, SBLCs, to advise the Finance Department for reconciliation purposes.
  • Support the team in accepting ad-hoc duties assigned from time to time by the Division Manager/General Manager.
  • Covering SWIFT profile as an authorizer when and where necessary in accordance with procedures and delegated authorities.

Qualifications & Other Certifications:

  • Master's Degree in Business Administration, Commerce, Finance, or Economics
  • Certified Documentary Credit Specialist (CDCS) will be an advantage

Language Skills:

Compulsory languages:

First: English

Second: Arabic and/or French

Years of Experience:

  • Minimum of 6 years experience