What are the responsibilities and job description for the Trade Finance Specialist position at Bank ABC?
Job Purpose: Manage a team of Process 4 direct reports. Process all Trade Finance transactions in a timely and accurate manner and in accordance with all applicable rules such as UCP, ISP, URC, as well as any compliance regulations that apply to Trade Finance transactions.
Responsibilities:
- Standby Letters of Credit (LCs)- review and release of any new Standby LC and amendment. Review and release customer billings and ensure follow-up until settlement.
- Import and Export Letters of Credit (LCs)- review and release of new LC and amendment advice. Review and release Import LCs. Second examination for shipping documents for Import LC. Review and release payments/acceptances.
- Outward Documentary Collection- review and release outward documentary collection. Review and release payments/acceptances.
- Bank to Bank Reimbursement- review and release reimbursement authorization, irrevocable reimbursement undertaking or claims.
- Account Reconciliation- perform daily monitoring to Account Payable/Receivable and any suspense account, as well as any required monthly reconciliation.
- Compliance Due Diligence/Reporting
- Provide support to the front office and perform investigations when needed.
Experience- 10 years
Knowledge/Skills
- Understanding of accounting principles
- Excellent communication and time management skills
- Reliable, customer focus attitude with a strong sense of teamwork
- Management and team leading Skills
Salary : $100,000 - $140,000