Letter of Credit Specialist

ACG Resources

Job Ref: 13564

NY Branch of European Bank seeking Letter of Credit Pro responsible for administrative tasks necessary to support the bank’s standby and commercial letters of credit portfolio, specifically the issuance, confirmation, and advising standby and commercial letters of credit.

Responsibilities

• Ensure that letter of credit transactions are in conformity with customer and issuing bank’s instructions, UCP Publication 600/ISP98, Credit Agricole credit and regulatory procedures • Ensures the timely processing of sensitive transactions and reports to management any unusual or intricate transactions requiring review, discussion and or approval

 

  • Provide assistance/support to customers and corporate groups on technical aspects and practices of letters of credit
  • Enter transactions for standby/commercial letters of credit in ACBS
  • Monitor pending inquiries, discrepancies and resolution of documents filed, ensure that all items are actively traced via correspondence with respective parties, tickler schedule and actively follow-up until payment is secured and transaction is finalized
  • Maintains up to date file containing copy executed letter of credit, amendments and supporting documentation
  • Ensure timely disbursement of funds, as required, and the processing of transactions through Bank systems for accurate accounting

Minimal education level

Bachelor Degree / BSc Degree or equivalent

Experience

Minimum of 5 years commercial and standby letters of credit experience

Knowledge of UCP 600/ISP 98

Examination of all relevant trade finance documents

Knowledge of all regulatory guidelines i.e. sanctions, OFAC compliance, anti-boycott and others

Knowledge of SWIFT

Word/excel and ACBS proficiency

CDCS Certification a plus 

 

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Please contact Dan, dan@acgresources.com
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