Senior Letters of Credit Administrator (Remote)

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timePosted 8 days ago location United States salarySalary undisclosed
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Job Description

Job Ref: 13606

Senior Letters of Credit Administrator (Remote)
(Will start Remote, eventually go on site TBD)
This position is responsible for all phases of L/C processing (issuance, negotiation, payment and acceptance) and Collection
processing. This position is also responsible for booking all L/C transactions and Fees to ACBS.

RESPONSIBILITIES
1. Advising of export letters of credit for customers of domestic branches:
2. Ensures appropriate credit approvals prior to issuance, reviews customer application for clarity and compliance with UCP 600,
ISP 98 and URC 522, refers unusual terms to supervisor for follow-up with client, creates letter of credit document on L/C
system.
3. Process payment or acceptance of LC Drawings and Collections, calculates commission and fees and enters in ACBS Loan
System and Main Frame system (IBS).
4. Records all LC transactions and Fees in LC System and ACBS Loan system.
5. Acts as Customer Service representative with Clients regarding LC Transactions.
6. Examines documents presented under commercial and standby Letters of Credit. Determines compliance with LC terms and
conditions, identifies discrepancies and obtains approval to pay from accounts party or issuing bank.
7. Issuance of Commercial and Standby (Performance & Financial) Letters of Credit.
8. Input, review and clearing OFAC hits for LC issuance, Collections and wires as required by Compliance.
9. Ability to manage a portfolio (Ticklers) of Standby Letters of Credit with Evergreen clauses.
10. Laisse with the Business teams on all facets of the Letter of Credit processing.
QUALIFICATIONS NEEDED
Strong background and experience in all phases of Letter of Credit and Collection processing and related functions.
Thorough knowledge of Uniform customs and practices for Commercial and Standby L/C's (UCP600, ISP98) and Collection
rules (URC 522) including Incoterms.
Working knowledge of ACBS preferred.
Knowledge of mainframe applications (eGifts, Gifts Web, ACBS, IBS) and the FCM archival system
Proficiency with the Microsoft Office (i.e. Excel, Word, PowerPoint)
Ability to use SWIFT gateway to send messages to presenting, advising and confirmed banks.
Experience Needed: Minimum 5+ years of relevant experience in a bank environment.
Education Required: Bachelor's Degree.
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