CORE PURPOSE OF THE JOB
Ensure that all payment requests received by Albaraka Bank Limited, are processed in accordance with the Bank’s internal rules, adherence to Shariah compliance, Compliance with International Banking norms & practices & maintaining excellent client service.
Trade Payment Processing
Local and International application vetting
- Verifies all Local and International purchases ensuring that all transactions are in accordance to ABL's Credit Policies i.e arrears are settled, purchases are within the approved facility, excess approval is obtained prior to release of payouts
Trade Facility Exposure Management
- Ensure client utilization aligns with approved limits; obtain top-up confirmation if exceeded and factor in unpaid deposit exposures before approving new advances.
Administration of Trade Finance Advances
- Foreign Payments (Documentary & Non-documentary):
- Review payment requests and ensure compliance with policies and Shariah principles.
- Prepare and approve applications for processing.
- Coordinate with clients regarding Offer to Purchase.
Trade Shariah Compliance
- Ensure all transactions and delivery confirmations align with Shariah checklists. Follow up on non-finalized trade advances (NFDs), update SharePoint logs, and mitigate Shariah risk through timely client engagement and documentation.
Not Finalized Trade Advances - Second Sales & invoicing:
- Maintain regular contact with clients regarding shipment status.
- Ensure timely receipt and vetting of Offer to Purchase documents. Finalize trades per Shariah guidelines and client terms, manage delays through logging and follow-ups, and maintain accurate records for all transactions.
Client Support & General Administration
Client Support:
- Address customer complaints and inquiries promptly.
- Ensure timely execution of trade processes.
Internal Divisions:
- Assist internal departments with trade finance queries.
- Compile audit files and provide feedback on compliance audits.
Department Operations:
Administration & Reporting
- Monitor and respond to trade emails promptly.
- Log transactions on SharePoint for diarised payments and profit recovery.
- Assist clients and internal teams with queries and trade guidance.
- Support reporting on overdue NFDs.
- Facilitate repayment allocations
- Ensure transaction verifications comply with Shariah requirements.
Support staff
- Provide back-office support for staff coverage within the division.
QUALIFICATIONS
- A diploma or recognized certificate in International Trade would be an advantage
PREFERRED EXPERIENCE
- A minimum of 2-5 years of general banking experience, accounting & international trade finance
KNOWLEDGE
- An in-depth understanding of all the principles of Shariah in respect of Trade finance for local and international payments.
- Banking System.
- Microsoft Office.
- Banks policies and procedures.
Al Baraka Bank is an Equal Opportunity Employer. Applicants from the previously disadvantaged groups and people with disabilities will be given preference
