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AVP- Trade Finance Ops

New York, NY 10036 | Direct Hire

Post Date: 06/19/2018 Job ID: 12392 Industry: L/C Standby
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NY Branch of European Bank seeking AVP Trade Finance Pro who will be responsible for:
  • Issuing and amending Standby Letters of Credit, Bank Guarantees and Documentary Collections.
  • Performing due diligence (sanctions / negative news) screenings on transactions
  • Maintaining the portfolio and following up with customers and banks on all aspects of these transactions.
  • Maintaining daily customer contact and providing advice in connection with the handling of Credit transactions.
  • Advising the Relationship Managers on the products available to their customers.
  • Accountabilities
  • Handle and process, all Trade Finance products that are approved for handling in the branch according to guidelines in a timely and efficient manner;
  • Provide daily customer contact and advise in connection with the handling of all trade finance transactions;
  • Perform due diligence screenings on 3rd parties to transactions, as necessary.
    • Categorized parties to transactions correctly in order for the appropriate due diligence to be performed
    • Perform negative news screening and analyse findings accurately
    • Prepare documents to be presented for sanctions screening
    • Ensure that sanctions screening is performed accurately by appropriate department
    • Perform internet searches on applicant / beneficiary, as the case may be, and analyse findings accurately
    • Prepare BSA / AML and anti-boycott red flags triage worksheet accurately
    • Prepare Checklist accurately
    • Annotate findings correctly on checklist
  • Issue standby letters of credit, bank guarantees and documentary collections as per customers’ written requests;
  • Book transactions relating to issuances, reductions, increases extension etc. into BFM;
  • Bill customer for fees and book fees into BFM;
  • Ensure that fee payments due are received and booked accurately and that past due items are followed up on;
  • Ensure that transactions are posted correctly and in the event that error is made, it is corrected in a timely manner to prevent losses to the bank and the customer;
  • Recognize dubious and speculative business / transactions and report to the appropriate people / department;
  • Check reconciliation accounts (Nostros and Internal accounts) on a daily basis to ensure that there are no outstanding items.
  • Experience
  • At least 5 years’ experience in Trade Finance (SBLCs and guarantees)
  • Undergraduate degree in business administration (optional with more than ten years of experience)
  • Compliance experience (optional)
  • Strong knowledge of UCP600, URDG758, ISP98 URC522 rules

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Dan McNichol

Dan McNichol comes to Adams Consulting Group with more than 22 years in the banking and software industries. Dan also has over 15 years in the recruiting industry, in which includes a previous association with Len Adams at KPA Group. As a banker Dan started his career with Manufacturers Hanover Trust Co. as a management trainee in the International Funds Transfer Division. He eventually moved on to two regional banks where he ran various international operations groups including Letter of Credit, Collections, FX and Funds Transfer. During his tenure with National Community Bank (n/k/a Bank of New York), Dan was part of team that assisted in the trade services group migration from a manual to an automated environment. The opportunity to expand his technical skills provided an ensuing opportunity to move to the vendor side of trade services. As a recruiter, Dan has been involved with searches on behalf of financial organizations from small retail neighborhood banks to prime foreign and U.S. banks seeking mid- to senior-level managers in disciplines involving compliance, international, retail, credit, lending and operations.

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