VP – Specialized Trade Finance (incl. ECA/Insurance-backed)

  • Competitive
  • Manama, Capital Governorate, Bahrain Manama Capital Governorate BH
  • Permanent, Full time
  • Non-disclosed
  • 03 Apr 18 2018-04-03

Senior Product Manager (minimum 10 years Trade Finance and 5 years Corporate Banking experience) working within Trade Finance Bahrain (Group Head Office), primarily responsible for originating, structuring and executing specialized Trade Finance transactions (ECA-backed/Credit Insured transactions, Receivable Finance, Payable Finance and Supply Chain) in MENA (GCC, Levant & North Africa).

Job Purpose:

  • Direct report to Regional Head of Trade Finance, working collaboratively within the Group’s Wholesale Banking team to originate, structure & execute specialized Trade Finance opportunities.
  • Sponsor specialized Trade Finance product development (incl. Specialized Letters of Credit and Guarantees, Pre-Export and Post Import Finance, Receivable Finance, Payable Finance and Supply Chain Finance), in addition to facilitating day-to-day vanilla business (e.g. Letters of Credit, Documentary Collections, Letters of Guarantee and Contract Bonding).
  • Responsible for the establishment, enhancement and implementation of specialized Trade Finance policies & procedures, related processes and documentation (in direct coordination with product management and technical service teams) to enhance delivery, standardization and client value proposition.
  • Champion ECA-backed/Credit Insured opportunities and product development programs, managing all enquiries, structuring, policy documentation and execution with Export Credit Agencies, Insurance Brokers and local Re-Insurers as well as offering internal orientation / training sessions for product, coverage, middle office, operations, credit risk and management stakeholders.
  • Agree and deliver definitive revenue targets in direct coordination with global, regional & local relationship coverage teams across the Bank’s network (Corporate focus).
  • Guide and support the Bank’s subsidiaries in North Africa and the Levant, identifying supply chain ancillary and cross-sell opportunities for the Bank’s Network as well as assisting the Regional Head of Trade Finance to develop MENA product programs and expertize.
  • Responsible for all aspects of any credit application submitted by Trade Finance Bahrain relating to specialized Trade Finance transactions, including but not limited to financial and industry analysis, structuring and commercial terms. Will be required to coordinate with Middle Office and the relevant Coverage team to ensure such applications are circulated in a timely and efficient manner.
  • Coordinate & manage internal Operations, Audit, Compliance, Legal & Credit Risk enquiries relating to the specialized Trade Finance portfolio.
  • Collaborative approach to Group Risk, assisting the team in managing the specialized Trade Finance portfolio in alignment with Bank’s risk appetite, credit risk policies and agreed thresholds/revenue targets
  • Ensure adequate MIS reporting is readily available for the specialized Trade Finance portfolio, ensuring day-to-day services are optimal and any related incidents are escalated in a timely and professional manner in accordance with Bank’s policy.
  • Guide & support junior colleagues, helping individuals grow & develop skills, including but not limited to Industry expertize & Succession Planning.
  • Represent Trade Finance on any relevant internal senior management committees where required.
  • Ongoing senior representation of the bank’s Trade Finance business activities to the external market community (including F.I.’s, Non-Banking F.I.’s, Corporates, Professional Advisors, Regulators etc) – may include brand representation as a Speaker / Panelist at key industry events.
  • Promote cooperative intra-group behaviors, utilizing the bank’s network for cross sell and referral opportunities whilst remaining agnostic to revenue booking.
  • Collaborative approach to client on-boarding initiatives, including identifying new opportunities with existing and targeted customers, referrals, cross sell and ongoing audits on the efficiencies and dependencies on the bank’s customer services, including but not limited to the application of solutions and enhancements where necessary.

Principal Responsibilities, Accountabilities and Deliverables of Role:

  1. Leadership
  2. Key responsibilities, accountabilities and deliverables
  3. Culture and Behaviors

Key Accountabilities

General Departmental responsibilities

  • Responsible for achieving Budgeted Revenue Targets
  • Support Regional Head to grow specialized Trade Finance business
  • Sponsor specialized Trade Finance expertize
  • Drive specialized Trade Finance product development
  • Guide and support junior staff to help meet overall performance targets
  • Manage portfolios, MIS and associated processes / documentation
  • Gather & disseminate market intelligence internally
  • Promote intra-group cooperation and transparency
  • Adhere to Bank’s  policies and maintain high standards of professionalism

Primary Specialized Trade Finance responsibilities

  • Develop and implement specialized Trade Finance products & marketing material
  • Travel regularly with Coverage teams to meet clients and sell Bank’s services
  • Source new specialized Trade Finance opportunities
  • Develop ECA and Credit Insurance capabilities, relationships and product programs
  • Enhance intra-group cooperation and transparency
  • Review and follow up all related approval processes
  • Review and follow up all related KYC and Customer Due Diligence processes
  • Oversee & Coordinate all related documentation execution
  • Liaise with all relevant departments internally to optimize client experiences

Job Context (Circumstances & environment surrounding the job):

The job holder requires extensive specialized Trade Finance experience (minimum 10 years) and corporate banking experience (minimum 5 years) in order to coordinate and further develop GTF Bahrain’s service capabilities. Industry specialization and / or credit expertise is preferable.

The job holder needs to be approachable and professional in conduct as he/she is expected to work closely with Senior Relationship Managers, Country Managers and Product Managers as well as liaise personally with internal srtakeholders such as Compliance, Credit & Risk Group, Legal, Operations and Audit. This includes joint client visits outside of the bank to customers who are either prospects or with whom existing relationships exist (either with Trade Finance or elsewhere in the Group).  

The job holder will report directly to the Regional Head of Trade  Finance in Bahrain on all matters relating to his/her role, as well as being responsible for promoting, supporting and growing the Trade Finance unit’s customer base, portfolio, revenue, product expertise and team development. This will be evidenced by income contributions across the Group as well as intra-group cooperation and cross-sell opportunities.

Committee Responsibilities:

From time to time, the job holder will be asked to join various oversight and steering committees. In such instances, the job holder is expected to conduct him/herself in a professional and mature manner.

Job Requirements:

Knowledge

The job holder requires extensive specialized Trade Finance experience (minimum 10 years) and corporate banking experience (minimum 5 years), including but not limited to the following products:

Documentary Credits

  • Import Letters of Credit
  • Import Letter of Credit Refinance
  • Export Letters of Credit
  • Specialized Letters of Credit
  • Documentary Collections
  • Drafts (Avalization)
  • UCP 600 (and subsequent publications)

Specialized Documentary Credits

  • Clean Letters of Credit
  • Back-to-Back Letters of Credit
  • Stand By Letters of Credit
  • Red/Green Clause Letters of Credit

Contract Bonding

  • Advance Payment Guarantees
  • Bid Bonds
  • Retention Bonds
  • Performance Bonds

Specialized Guarantees

  • Financial Guarantees
  • Shipping & Custom Guarantees
  • Irrevocable Reimbursement Undertakings

Specialized Trade Finance

  • Receivable Finance / Payable Finance
  • Supply Chain Finance
  • ECA / Credit Insurance
  • Pre-Export Finance
  • Post Import Finance
  • Trade Specific Lending

In addition, the Job holder should maintain high standards of documentation and due diligence in all cases, and should be capable of structuring facilities with customers and be familiar with market news and regulatory updates. The Job holder should be experienced in all aspects of relationship management.

Education / Certifications

  • A University Degree and / or College Diploma is preferable but not obligatory (10 years of business experience is desired where this is not the case)
  • Minimum pass GCSE qualifications or equivalent

Experience

  • At least 10 years specialized Trade Finance experience
  • At least 5 years of Corporate Banking experience
  • Credit expertise is preferable

Personal Attributes

  • Intelligent, Friendly & Approachable, Responsible, Reliable and Confident