Description
My client, a global investment bank, is adding head count to their trade services group to help adapt to the evolving work and regulatory environment. This person will be responsible for providing the on-going technical support and guidance to the customer base (internal / external) relating to trade products according to the relevant ICC publications, International Standby Banking Practice and AML regulatory reporting. A strong attention to detail paired with excellent communication skills will be vital in a role like this as you will be speaking with external clients as well as liaising with multiple departments across the business line to ensure accurate and timely execution.Responsibilities include (but aren't limited to):
- Responsible for the review, vetting, drafting of Standby Letters of Credit [SBLC] / Guarantee language (including Bid/Performance Bonds and Letters of Indemnity) that includes providing effective communication and feedback within the designated timelines.
- Processing of Letter of credit transactional activity that includes issuance, advising/confirming, amendment, examination of documents, payments, SBLC automatic reductions (Evergreen) auto-extend and fee/expense processing (billing and collection) using the various operating systems in accordance with defined customer specifications and department guidelines.
- Responding to routine inquires that includes performing the necessary investigations, ensuring timely resolution and the escalation of any issues to management that may potentially negatively impact the bank's risk and or reputation.
- Perform routine ad-hoc administrative functions inclusive of filing, scanning, end of day processes and archiving of cancelled files as directed in a timely manner.
- Be aware of and comply with all internal procedures and external regulatory/legal regulations or guidelines, Anti-Money laundering and boycott language for USA.
Position requirements:
- Technical Standby Letter of Credit experience (7+ years)
- Knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600) and International Standby Practices (ISP98) including Uniform Commercial Code Article 5
- Working knowledge of AML, OFAC Compliance regulations
- Microsoft Office with an emphasis on Word and Excel
- System orientated
Location: Jersey City, NJ
Duration: Contract - to -hire (18 month contract to start)
Start Date: ASAP