Team Lead, Bills for Collection

3 weeks ago


Lagos, Lagos, Nigeria First Bank of Nigeria Limited Full time

ABOUT THE COMPANY

First Bank of Nigeria Limited, is a Nigerian multinational bank and financial services company headquartered in Lagos Nigeria. It is the premier bank in West Africa with its impact woven into the fabric of society.

JOB SUMMARY

Education First Degree in any discipline Trade Certification (CDCS, CSDG, CITF) Master's degree and other professional certification (added advantage)Experience: 8-10 years of experience in Trade Functions

RESPONSIBILITIES

Responsible for overall coordination, management, administration, and delivery of Bills for Collection process, products, and functions for the bank Responsible for arbitrage functions between drawee and drawer both on the local and international scene, ensuring that collection and payment procedures as per collection orders terms and conditions are strictly adhered to. Provides leadership in the process of enforcement of compliance with regulatory dictates, ensuring that the provisions of the dynamically changing foreign exchange manual and International Uniform Rules for Collection are complied with. Oversees the process of mandatory compliance with the regulatory forms (Form M and NXP) registration, Shipping Documents Delivery/Collection, Bill of Exchange Acceptance, PAAR Issuance and Delivery, Exchange Control Documents Processing and ultimately, Payment administration. Oversees the process of engagement with the regulators, internal and external stakeholders, local and foreign counter parties on product and technology platform development for Bills for Collection, providing enabling environment for product growth and delivery in the bank. Oversees the process of periodic rendition of regulatory and ad-hoc returns as applicable to Bills for Collection to the various regulatory agencies. Oversees the process of daily and periodic reconciliation of Nostro, GL and Suspense accounts, ensuring open items are timely closed. Oversees the process of administration and management of associated operational risks ensuring that process and operational risks are identified with the risk mitigants put in place. Develop and handle capacity enhancement, skills building and knowledge transfer plans and programs for the team members.

REQUIRED SKILLS

Accounting, Analytics, Corporate finance, Cost tracking, analysis, Financial analysis, Financial reporting, Financial controlling

REQUIRED EDUCATION

Bachelor's degree



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