Trade Services Operations Analyst

Sumitomo Mitsui Banking Corporation

Jersey City, NJ, USA

Full time

Jan 21

Full Job Description

Overview:

Trade Services-Operations is a part of the Bank's Settlement Operations group within BCDAD and is responsible for checking and approving customer imports and exports for Letters of Credit (LOCs), Collections, and coordinates other business unit financing. Services include opening and amending of LOCs, processing payments, interfacing with customers regarding discrepancies or process problems, determining the feasibility of new products/services and identifying technological requirements.


The Trade Services Operations Analyst is mainly responsible for providing assistancer with Documentary Collections which includes Export collections and payment.

Responsibilities:

  • Check Import/Export documents against L/C terms and conditions, ensuring compliance with: (a) OFAC, EAR, Anti-Boycott, BSA and AML ; (b) UCP and ISBP, and (c) organizational policies and procedures.
  • Contact applicants, beneficiaries or presenting parties to get instructions for the timely resolution of identified discrepancies on documents.
  • Endorse Original L/C, where applicable, in accordance with standard procedures.
  • Prepare cables to issuing or negotiation bank: (a) requesting a waiver for discrepancies, or (b) notifying status of discrepant documents.
  • Perform required follow-up activities, ensuring identified issues are resolved within prescribed timeframes.
  • Prepare cover letters for the documents, which are to be sent on remittance or approval basis to the issuing bank.

Qualifications:

Experience required:

  • The desired individual will have a minimum of 8 to 10+ plus years of experience checking documents under Export letters of credit.
  • Should have good knowledge of commercial letters of credit and UCP 600 / ISBP/URR/ URC guidelines.
  • Must be diligent, detailed oriented and the ability to act as a team player in this desirable and professional working environment


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