Job Description

Overview:

TekWissen is a global workforce management provider headquartered in Ann Arbor, Michigan that offers strategic talent solutions to our clients world-wide. Our client is a company who is a provider of banking and financial services. The company operates through two divisions, Retail Banking and Services, and Corporate and Institutional Banking.

Position: Senior Standby Letter of Credit Specialist

Location: Jersey City NJ 07310

Duration: 6 Months

Job Type: Temporary Assignment

Work Type: Onsite

Shift: 8:00am to 5:00pm

Job Description:

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 countrie'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.

TekWissen Group is an equal opportunity employer supporting workforce diversity.

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