Standby Letter of Credit Specialist

Senior Technical Recruiter @ US Tech Solutions | Talent Acquisition Be among the first 25 applicants to be considered for this role. Base Pay Range $30.00/hr - $32.00/hr Duration: 6 Months The function covers objective assurance and consulting activity designed to improve an organization’s operation by evaluating and improving the effectiveness of risk management, control and governance processes. May also be responsible for liaising with the Risk and Compliance functions. This role is found where individuals cover a broad area of responsibilities rather than focusing on one specific role. Responsible for the evaluation and monitoring of a company’s risk management, control and governance practices, with recommendations for improvement where necessary and best practices. Makes recommendations to Business Unit Owners. Provides detailed feedback to business unit management. Business Overview The Trade Finance Operations’ primary function is to process Trade Finance related productions and transactions of client’s corporate clients and other branches in compliance with Federal and International Laws and conventions. Additionally, to provide technical assistance to account officers, corporate clients, and other employees in dealing with the intricacies of the trade related products offered by client (i.e.) documentary (commercial) letters of credit, standby letters of credit, documentary collections, and other trade finance related products entered into by the bank. Responsibilities Transaction processing of all Standby letter of credit, Guarantee and Documentary letter of credit trade finance products offered by client 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, including escalating any potential problems or seeking clarification as appropriate. Ensure that all transactions are completed within the set timeframes/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. Minimum Required Qualifications 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 (ISP98), and familiarity with Uniform Commercial Code Article 5. Working knowledge of AML, OFAC and U.S. Anti‑boycott regulations. Microsoft Office Suite proficiency. Familiarity with bank accounting related to trade finance products. Preferred Qualifications Standby and Documentary Letter of Credit technical experience (10 years plus); superior knowledge of UCP 600, ISP98, and familiarity with U.C.C. 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 proficiency. Good written and oral communications skills. Good understanding of drafting technical letter of credit terms and conditions for both standby and documentary credits. About US Tech Solutions US Tech Solutions is a global staff augmentation firm providing a wide range of talent on‑demand and total workforce solutions. To know more about US Tech Solutions, please visit US Tech Solutions is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. Recruiter Details Sapna Singh Job ID: 25-55356 Seniority Level Executive Employment Type Contract Job Function Finance, Other, and Accounting/Auditing Industries Investment Banking, Financial Services, and Capital Markets #J-18808-Ljbffr US Tech Solutions