Operations Analyst - Level 3

Job Title:

Senior Standby Letter of Credit Specialist

Job Duration: 6 month

Location:

Jersey City, NJ 07310

Pay Range: $32/hr on W2 without any benefits

Responsibilities:

• Transaction processing of all Standby letter of credit, Guarantee and Documentary letter of credit trade finance products offered within the operational model in place at any given time:
  • Issuance and maintenance of standby letters of credit
  • Advising/Confirming and maintenance of standby letters of credit
  • Examination of default drawing and direct pay presentations (includes first or second examination function)
  • Processing of written correspondence and verbal communications with internal and external customers associated with the resolution of technical letter of credit construction subject matter and other associated extraordinary processes
  • Calculating and tracking fees and commissions
  • Issuance and maintenance of Documentary Letters of credit
• Drafting (redlining) technical terms and conditions language to ensure proper construction of standby letters of credit, guarantees and documentary letters of credit.
• Reviewing transactions for regulatory compliance and anti‑boycott violations.
• Interacting with various parties of letter of credit transactions to resolve disputes, issuance construction, provide first and second level technical guidance, etc.
• Perform various administration functions related to the maintenance of letter of credit files.
• Resolution in a timely manner of inquiries received from internal and external clients. Includes escalating any potential problems or seeking clarification as appropriate.
• Ensure that all transactions are completed within the set time frames/deadlines established by TFO management.
• Stay current on Trade Finance Guidelines and Regulatory/Legal requirements by reference to related publications if available, active participation in designated in house or external training, and on the job training.
• Perform Ad‑Hoc tasks as directed by Team Leader / Management.

• Standby Letter of credit technical Letter of Credit experience (5-7 years) knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP
  98), and familiarity with Uniform Commercial Code Article 5
• Working knowledge of AML, OFAC and U.S. Anti‑boycott regulations
• Microsoft Office Suite
• Familiarity with bank accounting related to trade finance products

• Standby and Documentary Letter of credit technical experience (10+ years) superior knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP
  98), and familiarity with Uniform Commercial Code Article 5
• Exposure to an automated letter of credit processing environment
• Good understanding of AML and OFAC Compliance regulations
• Good understanding of Letter of credit contingent and fee accounting
• Microsoft Office Suite
• Good written and oral communications skills
• Good understanding of drafting technical letter of credit terms and conditions for both standby/documentary credits.