Letter of Credit and Guarantee Associate

As a Letter of Credit Specialist, you will manage a Banks letters of credit portfolio, including the issuance, confirmation, and advising of standby/guarantee and import/export letters of credit. This role requires expertise in reconciliation, compliance, and client invoicing, ensuring all transactions align with international trade practices and organizational policies.

Key Responsibilities

• Transaction Processing:
  • Ensure letter of credit transactions comply with UCP 600/ISP98/URDG 758 standards and the Banks credit/compliance guidelines.
  • Process sensitive transactions promptly, escalating unusual cases to management as needed.
• Client Support and Documentation:
  • Provide technical guidance on letters of credit to clients and internal teams.
  • Prepare, review, and execute required documents using systems like TI Plus, ACBS, and compliance tools.
• Monitoring and Reconciliation:
  • Review daily maturity reports to track and address expiring transactions.
  • Reconcile wash/nostro accounts, resolve discrepancies, and ensure proper recording of all activity in TI Plus and ACBS.
  • Trace and finalize pending inquiries, discrepancies, and payments, maintaining accurate records and correspondence.
• Compliance and Reporting:
  • Monitor compliance with OFAC and trade finance regulations, including vessel tracking.
  • Prepare documentation for periodic compliance reviews and address inquiries from regulators.
  • Generate and review past-due fee reports for timely management updates.
• Billing and Accuracy:
  • Ensure consistent, timely, and accurate client billing within ACBS, adhering to agreed-upon terms.

Qualifications

• Technical Knowledge:
  • Proficient in UCP 600/ISP 98/URDG 758 and trade finance documentation.
  • Familiar with OFAC, sanctions, and anti-boycott regulations.
• Skills and Abilities:
  • Strong analytical, organizational, and interpersonal skills.
  • Detail-oriented with the ability to multi-task, meet deadlines, and work under pressure.
  • Effective communicator, both orally and in writing, with the ability to collaborate with diverse stakeholders.
• Technical Proficiency:
  • Skilled in MS Excel and Word.
• Experience and Education:
  • Bachelors or Masters degree in Business, Management, IT, or related field.
  • 5-7 years of experience in handling letters of credit.

This role is ideal for a self-starter with expertise in letters of credit, compliance, and trade finance who thrives in a fast-paced, collaborative environment.