Description:
The Financial Analyst will be responsible for matters relating to managing Letters of Credit, working with banking partners, maintaining financial records, and supporting cash management process.
Role Accountabilities
- Responsible for the issuance of Letters of Credit (LC) to counterparties
- Work closely with the business, as well as banking partners to complete the execution new LCs and any amendments to existing LCs
- Maintain detailed records of all issued LCs, and perform a quarterly reconciliation of internal records against the issuing banks
- Monitor LC limits of our demand lines that back the LCs, and coordinate with the Finance team as needed
- Confirm the details of daily trading activity and transactions (i.e. foreign exchange, investments, commercial paper, etc.)
- Work closely with the Trading Team and external banking partners to investigate and resolve any discrepancies identified in the confirmation process in a time sensitive manner
- Participate in regular internal and external audits as required
- Support other Cash Management processes including treasury payments, bank account administration, etc.
Qualifications
- 4+ years of experience with a strong understanding of financial instruments such as Letters of Credit (LCs), foreign exchange transactions, investments, and commercial paper.
- Bachelor's Degree: A degree in Finance, Accounting, Business Administration, Economics.
- Designation in one or more of the following: CGA, CIA, CMA, CPA
- SAP Experience is an asset
- High level of attention to detail in maintaining accurate financial records and performing reconciliations.
- Experience in participating in internal and external audits, ensuring compliance with regulatory requirements related to LC issuance and cash management processes.
- Strong analytical skills to monitor LC limits, investigate discrepancies in trading activities, and resolve issues promptly.
- Experience in banking operations, particularly in LC issuance, amendments, and reconciliation processes.