Banco Nacional de Comércio de Timor-Leste
Terms of Reference
Expert For The International Treasury Department
Banco Nacional de Comércio de Timor-Leste (BNCTL) was established in July 2011 and is fully owned by the Government of Timor-Leste. Its mission is to provide financial services to Timorese people living in both rural and urban areas across the country in order to support the vision of gradually eradicating poverty in Timor-Leste through financial instruments aiming to support and improve livelihood of citizens by engaging in formal and informal income generating activities in productive and transformative sectors/areas
The Bank is embarked transformation program including introducing international trade finance to promote secure international transactions for individual and private sector in Timor-Leste coping with increasing demands of such banking service and accordingly, diversifying its source of income from international transactions through various instruments and practices.
- Objective of the Assignment
BNCTL is seeking services of an expert to review existing policy, procedure and the Standard Operation Procedure inclusive, processes, approving authority, delegation of authority, identify areas for improvement and propose/recommend new processes and flow of decision making within the Bank at the required quality, ensure effectiveness and efficiency in the Bank’s business processes both at the front offices/business divisions and department and branches and the support from back offices.
- Implementation Arrangements
The expert will be working closely with the Treasury Division when assuming the role. The expert will carry out consultations with Head of Treasury Division, Coordinators and staff during his assignment; obtain documents such as current SOP and other references as needed to produce the output as required in the TOR.
- Scope of Work (Activities):
- Undertake assessment of the quality, effectiveness and efficiency of the BNCTL International Treasury policy, procedure and Standard Operation Procedure (SOP).
- Preparing the International Treasury SOP process bottom-up and top-down, in international trade finance such us:
- Import under LC (Letter of Credit)
LC Opening, LC Amendment, Shipping Guarantee, Endorsement Original Bill of Lading, Incoming Import Document, Checking Import Documents, Rejection of Import Documents, Payment of Import Documents, Acceptance of Import Documents, Import Loan, Post Import Financing (PIF).
- Import Collection (Non LC)
Incoming Import Collection Documents, Checking Import Collection Documents: D/A (Documents against Acceptance) Import Collection, D/P (Documents against Payment) Import Collection Documents, Post Import Financing (PIF).
- Export under LC (Letter of Credit)
LC Advising, LC Amendment, Received Export Documents, Checking Export Documents, Outgoing Export Documents, Rejection of Export Documents, Payment of Export Documents, Acceptance of Export Documents, Export Loan, Post Export Financing (PEF).
- Export Collection (Non LC)
Outgoing Export Collection Documents, Checking Export Collection Documents: D/A (Documents against Acceptance) Export Collection, D/P (Documents against Payment) Export Collection Documents, Post Export Financing (PEF).
- SBLC (Stand By Letter of Credit) under ISP98
Issuing SBLC, Issuing Counter SBLC, Receiving Claim, Checking Claim Received, Payment Claim.
Receiving SBLC, Receiving Counter SBLC, Submitting Claim, Receiving Payment.
- Demand Guarantee under URDG758
Issuing Demand Guarantee, Issuing Counter Guarantee, Receiving Demand, Checking Demand Received, Payment Demand.
Receiving demand Guarantee, Issuing Counter Guarantee, Submitting Demand, and Receiving Payment.
- Review the existing processes of Trades at the International Treasury Division and the delegation of authority both for business divisions & departments including branches and the back office/supporting divisions and departments and understand the linkage and interdependencies between them;
- Identify and set priority of department involved in Trades Processes.
- Develop in-depth understanding of the current process in selected departments;
- Gathered information of processes through interviews involving related Head Divisions and staff.
- Document current process end-to-end with cross departmental reference;
- Identify and document controls of the process;
- Expected Output:
- Identify actions that the Bank’s management can take to improve the quality, effectiveness and/or efficiency of the function in the future with focus Trades and others.
- Provide Specific and value add recommendations to the business including alignment with the Bank’s vision and strategy;
- Review the current business process, prepare and recommend future International Treasury Department policy, procedure and Standard Operation Procedure (SOP) to bring about efficient, effective of the business in the department, allowing the department to offer excellent service and embossing fee based income.
- Establish Delegations of Authority for effective and efficient processing of the Trades.
- Socialize new processes and support business implement new process;
- Assist business effectiveness, efficiency and resilience including develop approach for effective transition and change based on the new proposed International Treasury SOP.
- Selection Criteria
Qualification and Specialized knowledge/experience required:
- University degree in Economy, Major in Management or Accounting, but more preferably for the Qualified Trade Finance Specialist (QTQF) and Diploma in International Trade and Finance.
- Having the relevant working experience with the International Chamber of Commerce (ICC) including the Self-updating in recent issues and rules in international trade community.
- Possess extensive professional experience in trade finance and banking sectors, having experience in working with commercial bank would be desired, and understanding of bank processes and procedures and regulations;
- Having more than 20 years experiences in trades including any achievements both theory and application in all aspect of trade finance will be an advantage.
- In depth knowledge of a full range of trade finance products and related products. Documentary Credit, Documentary Collection, Open Account, Guarantees, indemnities, pre-shipment Financing and post-shipment financing and other structured products will be advantage.
- Knowledge of Trade Services and Financing System and Application to Trade Products. Involving in several Trade system project such as: Bank Trade, Exim Bill, Mysis will be advantage.
- Ability in clear communication and articulation and patience;
- Experience working in countries in Asia, understanding of the culture will be an advantage.
- Strong staff development experience with demonstrable success in building capacity and facilitating change using participatory methodologies;
- Excellent interpersonal skill combined with a flexible and adaptable attitude, of good teamwork;
- Excellent report writing and good command/commsunication of both languages (English and Indonesian) spoken and written is an advantage;
- Ability to work flexibly and adapt to different styles of working;
- Computer proficiency in standard office applications (spreadsheets, word processing, presentation software, etc);
- Hold the Industry Certification required:
- CDCS (Certificate in Documentary Credit Specialist)
- CITF (Certificate in International Trade and Finance)
- CSDG (Certificate for Specialist in Demand Guarantee)
- CTFP (Certificate of Trade Finance Professional)
- CTFC (Certificate of Trade Finance Compliance)
- Selection Process (Mandatory)
The interested individual shall submit a proposal, in written, with the following information:
- Declaration of fulfilment of the applicable requirements;
- Declaration of full disclosure;
- Acceptance of the Terms of Reference;
- Proposed fees
- Duration and Starting of Contract
- Six months with possible extension, expected to commence in October 2020;
- Remuneration: Competitive salary will be offered to the selected candidate, depending on qualifications and experience;
- Location: BNCTL Main HQ and home office, as applicable.
Deadline Submission Documents : 11th September 2020, 17:00 Timor-Leste Time.