IDB2917 - Senior Manager, Disbursement Business Unit: ITFC Division: Not Applicable Department: Not Applicable Contract type: Conditional Regular (Indefinite) Employment Country: Saudi Arabia Location: Saudi Arabia - Jeddah Closing date: 04-Oct-2022


This role is responsible for monitoring the repayments and ensuring timely follow-up on payments receivable from clients by tracking and reporting dues and overdues and coordinating the remedial account management.


    • Contributing and participating in overall effectiveness of the Operations Department and back-up other team leader/members in case of need to ensure all essential and best quality service levels for both clients/syndication participants/inter departments with focus on the turnaround time on disbursement requests.
    • Supervise and ensure all diarized events (i.e., L/Cs and Collections due dates, Acceptance, SBLC Fees etc.) are processed.
    • Take the lead in Communication with Trade Finance Department to ensure that trade finance facilities and all required documentation are in place including participation with the RMs to improve financing operations based on experience.
    • Supervise all communication with clients/relationship managers/syndication participants/other stakeholders for any transactional issues and updates pertaining their operational requests. Ensure all Internal Compliance/Anti-Boycott/OFAC requirements/ covenants for disbursement are adhered to.
    • Clear establishment/amendment of Irrevocable Commitments for Reimbursements (ICRs) are in accordance with ITFC Guidelines, etc.
    • Supervise staff follow the prescribed disbursement processes laid down in accordance with the approved payment methods selected and financing mechanisms.
    • Clear claims received under ICR to further proceed with disbursements
    • Supervise staff check documents received from clients under Open Account requests to further proceed with disbursements.
    • Sign all invitations to syndication to participate on the extent of drawdowns as ITFC being the Lead Arranger (Mudarib).
    • Clear different types of SWIFT messages (i.e. MT199, MT999 and MT7 series)
    • Supervise all booking all transactions in the Operations’ main system i.e. IMAL with 100% accuracy.
    • Check and sign monthly updates to clients summarizing the status of each of their operations under disbursement.
Support staff in liaising with correspondent banks to resolve any issues and ensuring disbursements are properly affected. Supervise all the collection of fees/commissions on LC, SBLC to advise Finance Department for reconciliation purposes. To be a team player and acceptance Ad-hoc duties assigned time to time by the Division Manager/General Manager Covering swift profile as an authorizer

Qualifications & Other Certifications:

Master's Degree in Business Administration, Commerce, Finance, or Economics Certified Documentary Credit Specialist (CSCS) will be an advantage

Language Skills:

English, Arabic, and French are compulsory

Years of Experience:

Minimum of 6 years experience

This vacancy is archived.

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