Mitsubishi - Tampa, FL
posted about 2 months ago
The Documentary Collections Analyst at Mitsubishi UFJ Financial Group (MUFG) plays a crucial role in the Trade Finance Operations team, specifically focusing on the management of the Documentary Collections desk. This position involves processing transactions related to Commercial Letters of Credit using the Trade 360 System. The analyst will handle both incoming and outgoing documentary collections, ensuring compliance with US regulations and performing necessary checks and screenings. The role requires a keen attention to detail and the ability to manage multiple tasks effectively, as the incumbent will be responsible for document review, transaction processing, transaction control, and investigation of transactions. In the document review process, the analyst will assist in reviewing documents received under both import and export collections, ensuring that all documents are routed to the appropriate queues in the Trade 360 processing system. This includes preparing cover letters for outgoing shipping documents and ensuring that all endorsements are completed and reconciled against the courier log. The analyst will also handle documentary LC documents, ensuring compliance with various regulations such as OFAC, EAR, and BSA AML. Transaction processing involves preparing Swift messages to issuing or negotiating banks, requesting waivers for discrepancies, notifying the status of discrepant documents, and processing reimbursement claims. The analyst will need to perform follow-up activities to ensure that identified issues are resolved within prescribed timeframes and prepare necessary cover letters for documents as required. In terms of transaction control, the analyst will be responsible for contacting customers to obtain necessary instructions for pending discrepant documents under Letters of Credit and Documentary Collections. They will also provide updates to supervisors or account officers regarding the status of long-pending items. Additionally, the analyst will respond to inquiries from customers, relationship managers, and issuing or negotiating banks regarding pending documents and transactions, ensuring timely responses and follow-ups are conducted.