Trade Finance Analyst
Job #: req22851
Organization: IFC
Sector: Financial Sector
Grade: GE
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Istanbul,Turkiye
Required Language(s): English
Preferred Language(s): Closing Date: 5/31/2023 (MM/DD/YYYY) at 11:59pm UTC
Description
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
The Trade and Supply Chain Department is one of the industry groups at IFC, with both investment and advisory services delivered to IFC’s clients through IFC’s global network. IFC’s priorities in Trade are: (i) grow investment and advisory solutions in all regions it operates in, while achieving strong profitability and development impact (ii) build new and nurture existing client relationships to make IFC the preferred partner for key clients (iii) manage portfolio of assets for strong profitability and impact; (iv) support local companies, while improving transparency and corporate governance; (v) catalyze foreign investment, including mobilizing B loans, parallel loans, and other forms of capital mobilization; (vi) introduce and develop new financial solutions, products and platforms; (vii) build long-term partnerships with strong regional players; (viii) develop client, sector and country-level solutions through interventions that can be scaled and replicated; and (ix) be a thought leader and innovator of products and client solutions globally.
Global trade is an engine of growth that creates jobs, reduces poverty, and increases economic opportunities. It is a key driver of integration and opportunities for local enterprises in emerging markets and developing countries. Financing trade is fundamental to the movement of goods at all stages of the supply chain and can have a strong development impact in developing countries. IFC’s trade finance programs offer guarantees, risk-sharing facilities, loans, and other structured products to support trade in emerging markets. Through these various products, IFC has supported more than 400 financial institutions and thousands of underlying companies in more than 100 countries across all regions of the globe. To date, IFC’s Trade and Supply Chain Finance has supported over $200 billion in global trade, all of which is directly linked to the movement of specific goods across emerging market borders.
IFC is seeking a Trade Finance Analyst to support the Operations Team in Istanbul for processing and monitoring trade finance transactions under the Global Trade Finance Program (GTFP). The Analyst will report to the Operations Lead.
The Trade Finance Analyst is expected to:
- Process trade finance transactions, amendments and cancellations by working closely with regional trade teams.
- Work together with other Operations Team staff and contribute to ensure that transactions are consistent with all corporate guidelines, including the trade operational guidelines;
- Communicate effectively with Issuing Banks and Confirming Banks if necessary, to clarify any issues related to transactions;
- Perform regular compliance checks;
- Maintain contacts with GTFP Issuing Banks and Confirming Banks and stay abreast of market development;
- Track program activities by using the corporate systems and prepare activities reports as needed;
- Support processing and reporting for insurance as well as other trade finance facilities; and
- Support all other tasks requested by the Operations Lead to support the Operations Team and other trade finance programs.
Selection Criteria
- Minimum 2 years of experience in trade finance with a local/international commercial bank/other financial institution or international organization;
- Knowledge of commercial banking products and services, experience in correspondent banking relationships and international trade products;
- Strong financial and credit skills along with analytical ability;
- Advanced degree or equivalent professional qualification in Business Administration, Finance, Economics or the related field is required;
- Strong teamwork and organizational skills; and
- Strong interpersonal skills, ability to interact effectively with clients and colleagues from various cultural backgrounds.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.