One of Insight Global's Top Clients within the Banking Industry is looking for a VP, Letter of Credit Supervisor to sit on site 3 days a week in Manhattan, NY. This person will sit within letters of credit and support trade finance. The VP will manage a team of 3-8 letter of credit technicians, ensuring all their daily work is processed. The VP will be responsible for approving transactions, recording standby or commercial letters of credit activity within ACBS and Trade Innovations, ensuring timely disbursements of funds, clearing and reconciling open cash items, and coordinating daily with Canada team on work coming in based on pipeline. This person needs to have 5+ years of experience within trade finance and letters of credit, experience managing over 3 people, and strong trade finance and compliance knowledge. Additional Responsibilities Include :
Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98, and the Banks credit/ compliance procedures.
Ensure timely processing of sensitive transactions and report to management any unusual or intricate transactions requiring review, discussion and or approval.
Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit.
Prepare and execute required letter of credit documents using Tiger, Microsoft Word, or ACBS, as needed.
Review daily maturity report to ensure action has been taken by Administrators, as applicable, for maturing transactions.
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.
Approve outgoing SWIFT messages for LC transactions and manual wire transfers for payments, as required.
Review and approve letter of credit authorizations entered by LC staff in ACBS from submitted ALTAR Closing Requests.
Act as point of contact for periodic LC Compliance review and provide documentation requested for LCs being reviewed.
Review past due fee report for LC portfolio to insure accuracy and timely presentation for management reporting
Prepare annual reviews for LC staff.
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HR@insightglobal.com. The EEOC "Know Your Rights" Poster is available
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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.