Crédit Agricole S.A.
Job description
Business type
Types of Jobs - IT, Digital et Data
Job title
Letter of Credit Specialist
Contract type
Permanent Contract
Job summary
Summary
The Letter of Credit Specialist is responsible for maintaining and processing the Bank's letters of credit portfolio, specifically the issuance, confirmation, and advising Standby/Guarantees and Import/Export letters of credit.
Management and Reporting
Key Internal contacts: Control & Reconciliation team Various IT supports International Trade and Transaction Banking (ITB) Front and Middle Offices Compliance Finance Key External contacts:
Clients, as required Key Responsibilities
Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98, and the Bank's credit/ compliance procedures. Review Draft Letters of Credit and coordinate any issues with client Ensure timely processing of sensitive transactions and report to management any unusual or intricate transactions requiring review, discussion and or approval. Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit. Prepare and execute required letter of credit documents using LCMS, Microsoft Word, or ACBS, as needed. Review daily maturity report to ensure action has been taken on applicable, for maturing transactions. Properly record standby/commercial letters of credit activity in ACBS and LCMS, Swift Alliance as required. Monitor pending inquiries, discrepancies and resolution of documents filed, ensure that all items are actively traced via correspondence with respective parties, tickler schedule and actively follow-up until payment is secured and transaction is finalized. Ensure amendment notices/confirmations are completed and forwarded to clients or commercial group by the L/C Administrator. Coordinate clearing/reconciling of open cash items and daily exceptions reported by the CBO Control Unit for L/C portfolio. Ensure that Letters of Credit file contains relevant supporting documentation i.e. copy of executed letter of credit/ amendments and completed compliance checklist, when required. Ensure timely disbursement of funds, as required for LC drawings, and record transaction through the Bank's accounting system (ACBS) for accurate accounting and reporting. Ensure SWIFT messages for LC transactions are processed properly. Ensure all documentation for Documentary and Standby Letter of Credits are compliant. Escalate any compliance matters to both Management and Compliance. Salary Range:
$90k-$115k
#LI-DNI
Position location
Geographical area
America, United States Of America
City
NEW YORK
Candidate criteria
Academic qualification / Speciality
Education Essential:
Proficient in English language
Education Desirable:
College degree; Spanish language skills would be a plus
Level of minimal experience
6-10 years
Experience
Experience Essential:
Minimum of 7 to 10 years commercial and standby letters of credit experience
Required skills
Competencies Essential:
Team player Good presentation skills Good writing skills Good time management skills Good and constructive interaction with clients and colleagues Competencies Desirable:
Capacity to develop others Capacity to delegate Capacity to cooperate / work across discipline Capacity to take on board the strategy of Credit Agricole CIB and participate in actions to deliver Skills & Knowledge Essential:
Knowledge of UCP 600/ISP 98/ URDG 758 Examination of all relevant trade finance documents Knowledge of all regulatory guidelines i.e. sanctions, OFAC compliance, anti-boycott and others Knowledge of SWIFT Word/Excel proficiency Skills & Knowledge Required:
CDCS Certification Knowledge of ACBS Knowledge of Trade Innovations
Business type
Types of Jobs - IT, Digital et Data
Job title
Letter of Credit Specialist
Contract type
Permanent Contract
Job summary
Summary
The Letter of Credit Specialist is responsible for maintaining and processing the Bank's letters of credit portfolio, specifically the issuance, confirmation, and advising Standby/Guarantees and Import/Export letters of credit.
Management and Reporting
Key Internal contacts: Control & Reconciliation team Various IT supports International Trade and Transaction Banking (ITB) Front and Middle Offices Compliance Finance Key External contacts:
Clients, as required Key Responsibilities
Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98, and the Bank's credit/ compliance procedures. Review Draft Letters of Credit and coordinate any issues with client Ensure timely processing of sensitive transactions and report to management any unusual or intricate transactions requiring review, discussion and or approval. Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit. Prepare and execute required letter of credit documents using LCMS, Microsoft Word, or ACBS, as needed. Review daily maturity report to ensure action has been taken on applicable, for maturing transactions. Properly record standby/commercial letters of credit activity in ACBS and LCMS, Swift Alliance as required. Monitor pending inquiries, discrepancies and resolution of documents filed, ensure that all items are actively traced via correspondence with respective parties, tickler schedule and actively follow-up until payment is secured and transaction is finalized. Ensure amendment notices/confirmations are completed and forwarded to clients or commercial group by the L/C Administrator. Coordinate clearing/reconciling of open cash items and daily exceptions reported by the CBO Control Unit for L/C portfolio. Ensure that Letters of Credit file contains relevant supporting documentation i.e. copy of executed letter of credit/ amendments and completed compliance checklist, when required. Ensure timely disbursement of funds, as required for LC drawings, and record transaction through the Bank's accounting system (ACBS) for accurate accounting and reporting. Ensure SWIFT messages for LC transactions are processed properly. Ensure all documentation for Documentary and Standby Letter of Credits are compliant. Escalate any compliance matters to both Management and Compliance. Salary Range:
$90k-$115k
#LI-DNI
Position location
Geographical area
America, United States Of America
City
NEW YORK
Candidate criteria
Academic qualification / Speciality
Education Essential:
Proficient in English language
Education Desirable:
College degree; Spanish language skills would be a plus
Level of minimal experience
6-10 years
Experience
Experience Essential:
Minimum of 7 to 10 years commercial and standby letters of credit experience
Required skills
Competencies Essential:
Team player Good presentation skills Good writing skills Good time management skills Good and constructive interaction with clients and colleagues Competencies Desirable:
Capacity to develop others Capacity to delegate Capacity to cooperate / work across discipline Capacity to take on board the strategy of Credit Agricole CIB and participate in actions to deliver Skills & Knowledge Essential:
Knowledge of UCP 600/ISP 98/ URDG 758 Examination of all relevant trade finance documents Knowledge of all regulatory guidelines i.e. sanctions, OFAC compliance, anti-boycott and others Knowledge of SWIFT Word/Excel proficiency Skills & Knowledge Required:
CDCS Certification Knowledge of ACBS Knowledge of Trade Innovations