What are the responsibilities and job description for the Trade Services - Export Associate position at Bank of China?
Introduction:
: USD $42,000.00 - USD $90,000.00 /Yr.
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview:
The incumbent will be responsible for daily operation of export Letter of Credit documents checking and discounting. S/he will also participate in compliance and risks control as according to departmental compliance, risks control procedures, and as directed.
Responsibilities:
Include but are not limited to
Operation
- Serve as the Letters of Credit (“L/C”) examiner, performing detailed review of export letters of credit documents
- Conduct 2nd review of L/C documents
- Input into the system the document presentation, acceptance, discount, payments, etc
- File documentations and transaction related records
- Communicate with relevant parties to resolve problems on rejected items, propose solutions, and prepare reports for management review
Compliance and Major Risks Control
- Conduct due diligence of daily transactions against OFAC, KYC, BSA, and any other US Government Regulations to ensure compliance procedures are followed and escalate if there are any concerns
- Perform customer due diligence in accordance to the bank’s policies, procedures, and regulatory requirements
- Complete transactional worksheets, check for red flags and perform screening, goods pricing check, due diligence, negative news search, vessel search, etc.
- Minimum Bachelor’s Degree is required
- Certified Documentary Credit Specialists (CDCS) certification is required
- Minimum 1 year of experience in banking
- Knowledge of regulations and compliance trade service/trade finance operations is preferred
- Bilingual abilities in Mandarin is preferred
Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.
: USD $42,000.00 - USD $90,000.00 /Yr.
Salary : $90,000
