Trade Services Professional II

Trade Services Professional II

Requirements

• Knowledgeable of the UCP 500, UCP600, ISP98, URC525.
• Attention to detail, maintaining the highest quality.
• Ability to work in a high volume, potentially stressful, team environment.
• Ability to type, edit and proof general business correspondence and prepare reports as normally acquired through completion of a high school education.
• Good organizational skills, with the ability to handle multiple demands and competing priorities.
• Good verbal and written communication skills.
• Experience with Microsoft office products, such as Word, Excel and Outlook is necessary.
• Strong customer service skills.
• Employee must meet credit verification and background check criteria.

Responsibilities

• Issuance / Amendment / Adjustments – ~85% of time
• Issues import and standby letters of credit ensuring all required documentation and approvals are provided with the issuance application, transaction is processed within the bank’s defined processing standards.
• Book IRB letters of credit ensuring all required documentation and approvals are provided with the issuance application, transaction is processed within the bank’s defined processing standards.
• Processes amendment requests ensuring all required documentation and approvals are provided with the amendment application, transaction is processed within the bank’s defined processing standards.
• Process principal reductions on IRB letters of credit within the required timeframe.
• Record participation sold details on excel spreadsheet, updating details whenever change is made to the letter of credit.
• Review requested letter of credit terms and language for workability, obtaining approval from legal, when needed.
• Work directly with corporate customer, line of business, relationship manager, and affiliate funding desk, when needed.
• Obtain FX rates on foreign denominated letters of credit.
• Generate commissions on standby letters of credit.
• Closely monitor the auto/non-renewal process ensuring required documentation received and, when applicable, accurate, non-renewal notices processed.
• Process monthly principal and interest draws ensuring wire request and accounting entries entered on the Banktrade system.
• Examine documents received under a letter of credit ensuring documents are in compliance with the terms of the letter of credit and the UCP.
• Notify remitting bank of document discrepancies within the bank’s defined processing standards and the UCP.
• Notify corporate customer of document discrepancies obtaining additional instructions, when required.
• Deliver documents to corporate customer or foreign bank, when required.
• Perform manual OFAC review ensuring transaction parties and vessels are not on the government’s SDN list.
• Work with Line of Business for approval on export financing transactions keeping them advised of document/payment status when required.
• Process outgoing payments under import letters of credit preparing wire request, creating accounting entries on Banktrade system.
• Process incoming payments under export letters of credit directly crediting corporate customer via Banktrade system.
• Obtain FX rates on foreign denominated letters of credit.
• Setup an acceptances ensuring wire request, accounting entries, maturity date and rate information are accurately entered into the Banktrade system.
• Log all export letter of credit payments on an Excel spreadsheet.
• Advise incoming letters of credit to beneficiary and, when required, Line of Business within the bank’s defined processing standards and UCP.
• Review incoming letter of credit for workability, identifying confirmation requests, compliance issues, conflicting requirements, etc.
• Complete the necessary documentation when export financing is approved for a transaction, such as confirmation, discount acceptance.
• Submit reimbursement claims as per the terms of the letter of credit.

Preferred Qualifications

No preferred qualifications provided.