Letter of credit officer
Arab African International Bank
Total years of experience :1 years, 5 Months
- Responsible for creating day-to-day letter of credit transaction activity including internal & external
reports with standard quality and accuracy: Issuing, amending, document examination, export advising-
confirmation, settlement to all types of letters of credit in accordance to SLA and within the TAT.
- Ensure that all necessary approvals for each transaction either import or export LCs are obtained.
- Prepare all technical swift messages for import/ export L/Cs including (Issuance, amendment, payment,
transferred LCs …etc.)
- Screen all parties related to the transaction through the sanction screening system, in addition to this,
Officer/ Senior Officer should refer to the Compliance Department in case any violation/ sanction is
detected.
- Scrutinize as first checker the shipping documents in accordance with LC terms and conditions, latest
version of I.C.C Publications, UCP and ISBP, and either effect payment or send advice of refusal.
- Responsible for dispatch documents to branches and issue electronic form 4.
- Place payment for import LCs (Swift + entries on T24) after sending fund advice to the treasury dept.
- Check the technicality and validations of the export LC terms and conditions in accordance with the
latest version of I.C.C Publications, UCP and ISBP to fulfill the clients’ requirements in case of
confirmation/ transferrable/ assignment of proceed/ discounting.
- Handle the technical export documents including (Confirmed LCs, Transferrable LCs…etc.)
- Communicate with branches for pending technical advice.
- Prepare (Daily/weekly/monthly) reports
- Follow all relevant department policies, processes, standard operating procedures, and instructions so
that the work is carried out in a controlled and consistent manner.
- Follow the day-to-day operations related to own jobs in the department to ensure continuity of work.
- Comply with all relevant CBE regulations, banking laws, AML regulations, internal AAIB policies and code
of conduct in order to maintain AAIB’s sound legal position and mitigate any potential risks.