Trade Operations Analyst

Job Title : Operations Analyst- Standby Letter of Credit

Duration : 6 months with possibility to extend

Pay Rate : $35-40 / hr

About Job :

• The Trade Finance Operations primary function is to process Trade Finance related productions and transactions of
• corporate clients and other
• branches in compliance with Federal and International Laws and conventions.
• Additionally, to provide technical assistance to account officers, corporate clients, and other
• employees in dealing with the intricacies of the trade related products offered by
• i.e.) documentary (commercial) letters of credit, standby letters of credit, documentary collections, and other trade finance related products entered into by the bank.
• Responsibilities :

Transaction processing of all Standby letter of credit, Guarantee and Documentary letter of credit trade finance products offered by

o Issuance and maintenance of standby letters of credit

o Advising / Confirming and maintenance of standby letters of credit

o Examination of default drawing and direct pay presentations (includes first or second examination function)

o 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

o Calculating and tracking fees and commissions

o Issuance and maintenance of Documentary Letters of credit

Drafting (redlining) technical terms and conditions language to ensure proper construction of standby letters of credit, guarantees and documentary letters of credit.

Reviewing transactions for regulatory compliance and anti-boycott violations.

Interacting with various parties of letter of credit transactions to resolve disputes, issuance construction, provide first and second level technical guidance, etc.

Perform various administration functions related to the maintenance of letter of credit files.

Resolution in a timely manner of inquiries received from internal and external clients. Includes escalating any potential problems or seeking clarification as appropriate.

Ensure that all transactions are completed within the set timeframes / deadlines established by TFO management.

Stay current on Trade Finance Guidelines and Regulatory / Legal requirements by reference to related publications if available, active participation in designated in house or external training, and on the job training.

Perform Ad-Hoc tasks as directed by Team Leader / Management

Minimum Required Qualifications :

Standby Letter of credit technical Letter of Credit experience (5-7 years) knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP98), and familiarity with Uniform Commercial Code Article 5

Working knowledge of AML, OFAC and U.S. Anti-boycott regulations

Microsoft Office Suite

Familiarity with bank accounting related to trade finance products

Preferred Qualifications :

Standby and Documentary Letter of credit technical experience (10 years plus) superior knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP98), and familiarity with Uniform Commercial Code Article 5

Exposure to an automated letter of credit processing environment

Good understanding of AML and OFAC Compliance regulations

Good understanding of Letter of credit contingent and fee accounting

Microsoft Office Suite

Good written and oral communications skills

Good understanding of drafting technical letter of credit terms and conditions for both standby / documentary credits.

Salary : $35 - $40