Letters of Credit Specialist
Foot into the door at one of the largest cooperative financial institution
Contract role with a possible extension
About Our Client
A well-established European financial services company with offices all over the globe.
MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.
Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98, and the Bank's credit and compliance procedures.
Ensure the timely processing of sensitive transactions and reports 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 Tiger, Microsoft Word, or ACBS, as applicable.
Enter transactions to record standby/commercial letters of credit activity in ACBS.
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.
Maintain up to date Letters of Credit file containing all relevant supporting documentation ie. 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).
Establish and maintain letter of credit authorizations based on details provided on submitted ALTAR closing request in ACBS.
The Successful Applicant
- Bachelor's degree or higher
- Experience with letters of credit
- Good communication skills
- Detail Oriented
What's on Offer
- Competitive compensation
- Opportunity to join a reputable financial services company
- Exposure to Corporate Banking Front Office and Compliance with a large firm