Trade Finance Operations Analyst

Bamm - Jersey City, NJ

Full-time

Jersey City, NJ

Specialty Trade Contractors

About the position

The Trade Finance Operations Analyst is responsible for processing Trade Finance transactions and providing technical assistance to corporate clients and account officers. This role ensures compliance with Federal and International laws while managing various trade finance products such as standby letters of credit and documentary collections. The analyst will also handle transaction processing, regulatory compliance, and client inquiries, ensuring timely resolution and adherence to operational guidelines.

Responsibilities

• Transaction processing of all Standby letter of credit, Guarantee and Documentary letter of credit trade finance products.
• 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.
• Processing of written correspondence and verbal communications with internal and external customers.
• Calculating and tracking fees and commissions.
• Issuance and maintenance of Documentary Letters of credit.
• Drafting technical terms and conditions language for 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 and provide technical guidance.
• Performing various administration functions related to the maintenance of letter of credit files.
• Timely resolution of inquiries from internal and external clients.
• Ensuring all transactions are completed within set timeframes established by TFO management.
• Staying current on Trade Finance Guidelines and Regulatory/Legal requirements through training and publications.
• Performing Ad-Hoc tasks as directed by Team Leader / Management.

Requirements

• 5-7 years of Standby Letter of credit technical experience.
• Knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600).
• Knowledge of International Standby Practices (ISP98).
• Familiarity with Uniform Commercial Code Article 5.
• Working knowledge of AML, OFAC, and U.S. Anti-boycott regulations.
• Proficiency in Microsoft Office Suite.
• Familiarity with bank accounting related to trade finance products.

Nice-to-haves

• 10 years plus of Standby and Documentary Letter of credit technical experience.
• Superior knowledge of UCP 600 and ISP98.
• 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.
• Good written and oral communications skills.
• Good understanding of drafting technical letter of credit terms and conditions.