CA CIB Americas


Deputy head of documentary & guarantee operations

06 November United States, NEW YORK Perm

The Deputy Head of DGO is responsible for staff that administers the Bank’s letters of credit portfolio, specifically the issuance, confirmation, and advising Standby/Guarantees and Import/Export letters of credit.

Key Responsibilities
Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98, and the Bank’s credit/ compliance procedures.
Ensure timely processing of sensitive transactions and report to management any unusual or intricate transactions requiring review, discussion and or approval.
Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit.
Prepare and execute required letter of credit documents using LCMS, Microsoft Word, or ACBS, as needed.
Review daily maturity report to ensure action has been taken by Administrators, as applicable, for maturing transactions.
Approve transactions to record standby/commercial letters of credit activity in ACBS and LCMS, Swift Alliance  as required.
Monitor pending inquiries, discrepancies and resolution of documents filed, ensure that all items are actively traced via correspondence with respective parties, tickler schedule and actively follow-up until payment is secured and transaction is finalized.
Ensure amendment notices/confirmations are completed and forwarded to clients or commercial group by the L/C Administrator. 
Coordinate clearing/reconciling of open cash items and daily exceptions reported by the CBO Control Unit for L/C portfolio.
Ensure that Letters of Credit file contains relevant supporting documentation i.e.
copy of executed letter of credit/ amendments and completed compliance checklist, when required.
Ensure timely disbursement of funds, as required for LC drawings, and record transaction through the Bank’s accounting system (ACBS) for accurate accounting and reporting.  
Approve outgoing SWIFT messages for LC transactions and manual wire transfers for payments, as required.
Review and approve letter of credit authorizations entered by LC staff in ACBS from submitted ALTAR Closing Requests.
Act as point of contact for periodic LC Compliance review and provide documentation requested for LCs being reviewed.
Review past due fee report for LC portfolio to insure accuracy and timely presentation for management reporting.
Prepare annual reviews for LC staff.
Management and Reporting  
Act as the deputy to the Head of DGO.  Provide support to and coverage for the Head of DGO.
Positions Supervised:   Five
Key Internal contacts 
Control & Reconciliation team
Various IT supports
International Trade and Transaction Banking (ITB) Front and Middle Offices
Key External contacts
Clients, as required

10+ years commercial and standby letters of credit experience

College degree in relevant field