Hi,
Hope you are doing good. I am Ayush working with Soho Square Solutions. I have the open requirement for the mentioned position. Please let me know if you are interested. If interested, kindly provide me your updated resume with the best time to reach you and the expected pay.
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.
Review Draft Letters of Credit and coordinate any issues with client
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
Regards
Ayush Goyal
SOHO SQUARE SOLUTIONS
106 W 32 Street #108 New York, NY 10001, USA
1 University Ave, Toronto, ON M5J 2P1, Canada
Ph. 646-569-9640| Fax. 718.923.6084
Web. www.sohosquaresolutions.com
Job Types: Full-time, Contract
Salary: $423.32 - $500.00 per day
Schedule:
- 8 hour shift
Ability to commute/relocate:
- New York, NY 10001: Reliably commute or planning to relocate before starting work (Required)
Experience:
- Accounting: 1 year (Preferred)
- Microsoft Excel: 1 year (Preferred)
Work Location: Hybrid remote in New York, NY 10001
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