Letter of Credit Analystr

Letter of Credit Analystr

Requirements

• 3-5 years of banking experience with 2-3 years of Standby LC operations experience.
• Knowledge and experience in processing of SBLCs and billing/fee invoices required.
• Experience in SBLC draft reviews and technical support is a plus.
• Knowledge and experience of transaction processing in T-360 System, GPP, BESS and Hotscan Systems is a plus.
• Sound knowledge of UCP, ISP, URDG and ISBP.
• Experience and background in Commodity Financing and Project Finance is a plus.
• Ability to support and provide teamwork with focus on quality and prompt customer service.
• Strong inter-personal skills, verbal and written communication skills and ability to work in an automated system environment required.

Responsibilities

• Monitor the daily operations of the Standby L/C Section and workflow supervision.
• Ensure output satisfies corresponding process requirements and priorities.
• Reconcile and account for all incoming items/work and ‘processed output’ in accordance with established procedures and controls.
• Maintain and oversee overdue and/or delinquent transactions, section’s output reports, pending items, records and files.
• Responsible for accurate LC liability and commission postings.
• Provide timely support to new business initiatives of front offices particularly, commodity financing deals and ACB customers.
• Coordinate and ensure all Fronting LCs and Commodity Financing LCs are executed properly and promptly.
• Review L/C and Amendment Queues in Trade 360 System and ensuring that all L/C’s are issued and amendments are processed and releases as requested.
• Verify and release L/Cs, amendments, drawings, payments, LC fee, bills and sign negotiable instruments in timely manner in accordance with the authorization limits established by the Executive Management.
• Ensure all default, principal and interest draws are in compliance with the LC terms and conditions and comply with the internal procedures and compliance requirements.
• Provide technical and System support and guidance to staff members, Account Officers, Middle Office, all US branches and Customers on Standby LCs.
• Respond to inquiries received from customers, front/middle offices, internal auditors and correspondent banks, providing the accurate and timely information in resolution of such queries.
• Identify discrepancies and/or inefficiencies in customer support efforts and ensure that they are corrected, documented and implemented.
• Assist the Manager (or the Management) in identifying risk areas and implement/monitor practices to reduce and/or prevent risk opportunities.
• Update procedures as and when changes to workflow process, system enhancements and internal controls are effected.
• Conduct quality control meetings to enhance customer service and customer first initiative.
• Supervise workflow assignments and ensure the work is processed in timely manner.
• Discuss and assess team members’ performance and production and escalate any issues to the Management.
• Provide system training where required and ensure team is equipped with the necessary knowledge and skills.
• Timely reporting to Management on staff performance issues, productivity and incidents.
• Enforce bank’s compliance policies and procedures.
• Ensure implementation of all compliance regulations including OFAC/BSA/AML/JFEL//Anti-boycott regulations in the Section’s operations.
• Ensure the Staff receives proper training in all regulatory and bank compliance issues.
• Enforce applicable internal policies and procedures including HO as related to Trade Finance products and operations.
• Handle Special investigations, reports and assignments to support department Management’s goal.

Preferred Qualifications

• Experience in SBLC draft reviews and technical support is a plus.
• Knowledge and experience of transaction processing in T-360 System, GPP, BESS and Hotscan Systems is a plus.
• Experience and background in Commodity Financing and Project Finance is a plus.