What are the responsibilities and job description for the Trade Finance Operations position at US Tech Solutions?
Responsibilities :
Transaction processing of all Standby letter of credit, Guarantee and Documentary letter of credit trade finance products offered by client within the operational model in place at any given time :
Issuance and maintenance of standby letters of credit
Advising / Confirming and maintenance of standby letters of credit
Examination of default drawing and direct pay presentations (includes first or second examination function)
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
Calculating and tracking fees and commissions
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.
About US Tech Solutions :
US Tech Solutions is a global staff augmentation firm providing a wide range of talent on-demand and total workforce solutions. To know more about US Tech Solutions, please visit www.ustechsolutions.com (http : / / www.ustechsolutionsinc.com) .
US Tech Solutions is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
