Trade Finance Advisory - Assistant Manager

Job description

Job ID: 288853
Job Family: Finance
Location: Riyadh
Organization: Financial Services
Mode of employment: Full time only

To ensure timely availability of bank guarantees along with the updated information in GREAT & Letter of Credit documents are timely submitted to bank. To reconcile the Guarantee stock of GREAT with banks, booking of Guarantees & LC charges and to report the Guarantees data to the Head of Financing on Monthly and Quarterly basis.

What are my responsibilities?

· Issuance / Amendment / Cancellation of Bank Guarantees through GREAT. It is done to comply with contractual obligations and Guidelines
· Coordination with the Banks & Divisions for the Guarantee issuance. It is done to ensure the timely issuance of the Guarantees from the bank and delivering the same to Division
· Checking the text of Guarantees issued with the original Guarantee text send to the bank. It is done to ensure that Guarantee is issued in line with Guarantee text send to the bank.
· To ensure charges of Guarantees & Letter of Credits debited by bank are in line with agreement and are booked to relevant Division. This is done to ensure that all charges are timely and correctly booked
· To maintain the Guarantees register for the Guarantee issuance / amendment/ cancellation in order to have the updated view of Guarantee status.
· To amend the Guarantees as per the requisition of the Business Units and check the request received from the Business Units with the particulars of original Guarantee. The amendment is done to fulfil the contractual obligations
· To Cancel the Guarantees in case of Original Guarantees received from the beneficiary, and if the original instrument is lost from the beneficiary NOC is arranged from the beneficiary and same is submitted to the bank. The cancellation is done to reduce the Guarantees limit for the Guarantees that have fulfilled its obligations.
· Reconciling the Guarantees stock of GREAT with the Banks data. And in case of any issues the same is settled with the banks. This is done by comparing the GREAT download with the banks data. This is done to ensure that GREAT and bank data are reconciled
· To quarterly reconcile the list of the GREAT users and to update the list of the users. This is done to ensure that the list of users is updated and the users not using the GREAT are deleted

What do I need to qualify for this job?

· Masters degree in finance, accounting, business administration or related studies, or a bachelors degree in similar disciplines with equivalent years of experience.
· Minimum 3 years of experience.

What else do I need to know?

Siemens is dedicated to quality, equality, and valuing diversity, and we welcome applications that reflect the diversity of the communities within which we work. People with disabilities will be preferred in case of equal qualification. Please find more information at www.siemens.com.sa .

How do I apply?

We are looking forward to receiving your on-line application. Please note: only complete application documents, including diplomas, certificates of employment or letter of recommendation respectively can be considered in the selection process.