Letter of Credit Specialist

Our European banking client is looking for a professional who has experience in trade finance operations. Specifically, our client is looking for a Trade Finance Operations Specialist specializing in Letters of Credit (LCs) who manages the end-to-end lifecycle of documentary credits, acting as a liaison between importers, exporters, and banks to ensure secure international payments.

Position Summary:

The Senior Specialist in Trade Finance Operations is responsible for assisting in the evaluation, direction and prioritization of workflow of certain aspects of the documentary business for customers in accordance with industry regulations, as well as having delegated review, release and signing authority up to specified limits and for providing specialized and process-driven advice within his sphere of activity. In so doing, he/she works closely with Sales Specialists CTS+FI and relationship managers dealing with corporate customers, whom he/she supports by providing pertinent information in a team-oriented manner.

Essential Duties and Responsibilities:

• Responsible for the independent, compliant and timely handling of sections of the Letters of Credit business process guided by the operational procedures, guidelines, policies, practices, code of conduct and standards imposed by the Company/Group.

• Advising of customers with due consideration given to their specific needs and the bank’s operational requirements for cases with regular and enhanced complexity

• Unassisted and compliant handling of recurring daily business routines with regular and enhanced complexity in accordance with internal and external regulations and within the agreed deadlines

• Observe the bank's rules of action, policies and regulations, including, but not limited to, regulations on competences, limits, regulations pursuant to Comrules in Comnet, Code of Conduct, Compliance Regulations (Sanctions, embargos, Anti Money Laundering, Know Your Customer, Fraud prevention, Markets, Anti-Bribery and Corruption rules etc.) and ensuring compliance with first line of defense responsibilities

• Participation in global projects and management of local projects in the area of responsibility (e.g. IT adjustments)

• Advanced knowledge of the pertinent rules published by the International Chamber of Commerce (ICC) with regards to trade finance business

• Assists junior level employees by providing direction guidance and training to all aspect of documentary and guarantee business, as needed, and may be required to act as a speaker within the framework of the bank’s qualification measures.

• The Senior Specialist is authorized to review/verify documents up to $1,000,000. He/She exercises this authority in a responsible manner and in accordance with industry and bank regulations.

• Coordinate and prioritize the daily workflow for the team members within the area of responsibility

• In accordance with the Bank’s signing authority, the Senior Associate has the authority to sign independently for transactions up to $500,000.

• Designated releaser function within letters of credit applications in the TFO Documentary Business and Guarantee Group

• Depending on each task allocated, the processing covers the carrying out of all documentary business and SBLCs processes in accordance with the rules.

• Review of documentary business and SBLCs related OFAC/sanctions alert cases in the current sanction filtering system

• Miscellaneous responsibilities as required.

Experience /Qualifications/Education:

• Experience as a Releaser in Letters of Credit and SBLCs operations

• Demonstrates independent judgment and decision making with limited guidance and supervision

• Thorough knowledge of UCP and ISP98.

• Very good written and verbal communication skills.

• Proficient in MS Word and MS Excel applications.

• Knowledgeable with working in an automated L/C system such as CIBAR a plus.

• Detail oriented, flexible, team player with the ability to multitask.