CA CIB Americas

Controlling / Treasury

★★★★★

Letter of credit specialist

27 March United States, NEW YORK Perm

Summary 
The Letter of Credit Specialist is responsible for maintaining and processing  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 on applicable, for maturing transactions. 
Properly 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.
 
Ensure SWIFT messages for LC transactions are processed properly 
Ensure all documentation for Documentary and Standby Letter of Credits are compliant.
Escalate any compliance matters to both Management and Compliance.
Review past due fee report for LC portfolio to insure accuracy and timely presentation for management reporting

Management and Reporting  


Key Internal contacts   

Control & Reconciliation team
Various IT supports
International Trade and Transaction Banking (ITB) Front and Middle Offices
Compliance
Finance


Key External contacts

Clients, as required

Minimum of 15 years commercial and standby letters of credit experience

Desirable : College degree

Spanish language skills would be a plus