Trade Finance Operations Specialist - Primary Talent Partners
Jersey City, NJ 07310
About the Job
Primary Talent Partners has a 6 month contract opening for a Trade Finance Operations Specialist to join a multinational corporate bank for a hybrid position operating out of Jersey City, NJ.
Pay: $35.00/hr - $40.00/hr
Contract: 6 months, extensions likely, conversion possible
Type: W-2, cannot support C2C or provide visa sponsorship
Hybrid: 50% onsite / 50% remote
Summary:
The Trade Finance Operations’ primary function is to process Trade Finance related productions and transactions of the company'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 company employees in dealing with the intricacies of the trade related products offered by the bank (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:
If you are a person with a disability needing assistance with the application or at any point in the hiring process, please contact us at info@primarytalentpartners.com
#PTPJobs
#LI-PTP
Pay: $35.00/hr - $40.00/hr
Contract: 6 months, extensions likely, conversion possible
Type: W-2, cannot support C2C or provide visa sponsorship
Hybrid: 50% onsite / 50% remote
Summary:
The Trade Finance Operations’ primary function is to process Trade Finance related productions and transactions of the company'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 company employees in dealing with the intricacies of the trade related products offered by the bank (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 BNP Paribas 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. Includes 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
- Bachelor's degree, ideally in a Finance discipline.
- 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
- Familiarity with bank accounting related to trade finance products
- Standby and Documentary Letter of credit technical experience (10 years plus) superior knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP98), and familiarity with Uniform Commercial Code 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
- Good written and oral communications skills
- Good understanding of drafting technical letter of credit terms and conditions for both standby/documentary credits.
If you are a person with a disability needing assistance with the application or at any point in the hiring process, please contact us at info@primarytalentpartners.com
#PTPJobs
#LI-PTP
Source : Primary Talent Partners