International Trade Specialist jobs in Newark, NJ

SUMMARY:

Issuance and Amendments of Letters of Credit (Standby letter of credit, commercial letter of credit)

RESPONSIBILITIES:

·        Issuance and amendment of Standby Letter of Credit, Commercial Letter of Credit received from the Front Office or the customer checking the letter of credit application and letter of credit terms for compliance with international governing rules [UCP, ISP98, U.S. Regulatory matters].

·        Review/Prepare/Process the Standby Letter of Credit, Commercial Letter of Credit via mail/email/SWIFT and update the Standby Letter of Credit, Commercial Letter of Credit transaction in the Trade Finance system

·        Register all transactions in the online document storage system with all supporting documents including registering the evergreen renewal terms and pending beneficiary consents as required

·        Monitor and Control evergreen notification dates and all beneficiary consents

·        Review and Prepare Letter of Credit invoices to the customer as required including processing the transaction in the Standby Letter of Credit system and confirming payment is received.

·        Obtain a basic understanding of the applicable rules and regulations that govern the Bank. Understand that all questions and/or clarification about such rules and regulations should be directed to the Americas Compliance Division. Attend Annual Compliance Training presented by the Americas Compliance Division. Read and respond as necessary to all compliance-related reference and directive materials received. Comply with the Bank's "Code of Conduct".

Requirements

QUAILFICATIONS:

·        College diploma or equivalent.

·        5 Years of Standby Letter of Credit experience

·        Working knowledge of the "UCP" currently in effect.

·        TRADE FINANCE

·        INVOICES

·        SWIFT

·        OFAC