TEMP Letter of Credit Specialist

ACG Resources

Job Ref: 12713

New York Branch of European Bank seeking TEMP Letter of Credit Specialist with a focus on Standby L/C's for open ended assignment

• Ensure Daily invoices received from the corresponding Bank’s/Branches are processed on a daily basis 
• Prepare and forward invoices to customer s, for corresponding Bank/Branch fee request. 
• Daily track of invoices sent to customer’s, and trace as necessary. 
• Maintain up to date Letters of Credit file containing all relevant supporting documentation i.e. copy of executed letter of credit/ amendments and completed compliance checklist, when required. 
• Coordinate with the Reconciliation team to ensure overdue items are reported in detail. 
• Ensure daily updated are provided to the overseas branches and or corresponding bank’s. 
• Daily scanning of processed work for both Standby and Documentary Operations. 

• Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98, and the Bank’s credit and compliance procedures.

• Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit.

• 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.

• Ensure timely disbursement of funds, as required for LC drawings, and record transaction through the Bank’s accounting system 

 

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