Crédit Agricole SA
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.
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 clients.
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, 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 items are actively traced via correspondence with respective parties, tickler schedule and follow-up until payment is secured and the transaction is finalized.
Ensure amendment notices/confirmations are completed and forwarded to clients or the commercial group by the L/C Administrator.
Coordinate clearing/reconciling of open cash items and daily exceptions reported by the CBO Control Unit for the L/C portfolio.
Ensure that L/C file contains relevant supporting documentation (e.g., 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 transactions 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 Letters of Credit are compliant. Escalate any compliance matters to Management and Compliance.
Review past due fee report for the LC portfolio to ensure accuracy and timely presentation for management reporting.
Salary Range:
$95k-$115k
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Supplementary Information Key Internal contacts
Control & Reconciliation team
International Trade and Transaction Banking (ITB) Front and Middle Offices
Compliance
Finance
Key External contacts
Clients, as required
Geographical area America, United States Of America
City 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
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
CDCS Certification
Knowledge of ACBS
Knowledge of Trade Innovations
Team player
Good and constructive interaction with clients and colleagues
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
Languages General information About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm of Crédit Agricole Group, the 10th largest banking group worldwide in terms of balance sheet size (The Banker, July 2022). 8,600 employees in more than 30 countries across Europe, the Americas, Asia-Pacific, the Middle-East and North Africa. The Bank offers products and services in capital markets, investment banking, structured finance, commercial banking and international trade. Crédit Agricole CIB is committed to diversity and inclusion and places people at the heart of its transformations. All our job offers are open to persons with disabilities. For more information, please visit www.ca-cib.com.
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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 clients.
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, 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 items are actively traced via correspondence with respective parties, tickler schedule and follow-up until payment is secured and the transaction is finalized.
Ensure amendment notices/confirmations are completed and forwarded to clients or the commercial group by the L/C Administrator.
Coordinate clearing/reconciling of open cash items and daily exceptions reported by the CBO Control Unit for the L/C portfolio.
Ensure that L/C file contains relevant supporting documentation (e.g., 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 transactions 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 Letters of Credit are compliant. Escalate any compliance matters to Management and Compliance.
Review past due fee report for the LC portfolio to ensure accuracy and timely presentation for management reporting.
Salary Range:
$95k-$115k
#LI-DNI
Supplementary Information Key Internal contacts
Control & Reconciliation team
International Trade and Transaction Banking (ITB) Front and Middle Offices
Compliance
Finance
Key External contacts
Clients, as required
Geographical area America, United States Of America
City 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
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
CDCS Certification
Knowledge of ACBS
Knowledge of Trade Innovations
Team player
Good and constructive interaction with clients and colleagues
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
Languages General information About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm of Crédit Agricole Group, the 10th largest banking group worldwide in terms of balance sheet size (The Banker, July 2022). 8,600 employees in more than 30 countries across Europe, the Americas, Asia-Pacific, the Middle-East and North Africa. The Bank offers products and services in capital markets, investment banking, structured finance, commercial banking and international trade. Crédit Agricole CIB is committed to diversity and inclusion and places people at the heart of its transformations. All our job offers are open to persons with disabilities. For more information, please visit www.ca-cib.com.
#J-18808-Ljbffr