Permanent Contract

Associate-DGO Letter of Credit Technician

Modified on 27/11/2024

  • NEW YORK - United States Of America
  • Operations
  • 2024-94383

Job description

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. 

 

 

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.

 

Review past due fee report for LC portfolio to insure accuracy and timely presentation for management reporting

 

 

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

 

Salary Range: $85k - $95k

#LI-DNI

    • Training / Specialization
    • Required:English language Preferred: College degree;Spanish language skills would be a plus
      Minimum of 7 to 10 years commercial and standby letters of credit experience
    • Minimum experience level
    • 6-10 years
    • Compétences recherchées
    •  Team player Good presentation skills Good writing skills Good time management skills Good and constructive interaction with clients and colleagues 
       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 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
       CDCS Certification Knowledge of ACBS Knowledge of Trade Innovations

  • 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, support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital market activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients. For more information, please visit www.ca-cib.com Twitter: https://twitter.com/ca_cib LinkedIn: https://www.linkedin.com/company/credit-agricole-cib/ By working every day in the interest of society, we are a group committed to diversity and inclusion. All our positions are open to people with disabilities.

Crédit Agricole CIB
Crédit Agricole CIB
Crédit Agricole CIB

Crédit Agricole CIB

Associate-DGO Letter of Credit Technician

Published the 27/11/2024

Permanent Contract
  • NEW YORK - United States Of America
  • Operations
  • 2024-94383

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