A large financial client is looking for a Letter of Credit Specialist to join the Trade Finance Department. This person is responsible for processing various Trade Finance Products related to Documentary Commercial, Letters of credit, Documentary Collections and other trade finance products developed by the bank. This position operates within the Trade Finance Department's workstation environment and is responsible for the efficient and timely processing of all assigned transactions.
Primary Duties and Responsibilities
- Transaction processing of all events related to the following Documentary Letter of credit products: Issuance of Documentary Letters of credit and related amendments. Advising/Confirming of Correspondent Bank Letters of credit and amendments
- Drafting and redlining technical terms and conditions for Documentary Letters of credit issued and advised/confirmed
- Processing of written correspondence and verbal communications with internal and external customers associated with the resolution of technical letter of credit construction subject matter and other associated extraordinary processes
- First/second examination and payment of documents presented under Documentary Letters of credit issued
- First/second examination and payment of documents presented under Documentary Letters of credit Advised/Confirmed
- Processing of Clean Acceptance Financing transactions
- Issuing/processing Assignment of Proceeds under Letters of credit
- Processing of partial and full transfers under Transferable Letters of credit
- Calculating and tracking fees and commissions
-5+ years of experience with constructing standby letters of credit
Benefit packages for this role will start on the 31st day of employment and include medical, dental, and vision insurance, as well as HSA, FSA, and DCFSA account options, and 401k retirement account access with employer matching. Employees in this role are also entitled to paid sick leave and/or other paid time off as provided by applicable law.