Trade Finance Operations - AVP

About the role

The incumbent is responsible for manning Commercial Letters of Credit and processing transactions in Trade 360 System, which includes: issuance/advising/doc examination of documents presented under Commercial LCs; handling of discounting and financing of bills; workflow management; reporting and invoicing; special projects and UAT testing; quality control and customer service; US compliance regulation checks/screening/data entry; and acceptances/payments, reimbursement claims.

Functions

To assist the Section in achieving its planned objectives, the incumbent is assigned to the following Functions:

• Issuance/Advising/Doc Exams
• Transaction Processing
• Transaction Control
• Investigation
• Payments

Essential Functions

• Commercial LC Activities: Handle various activities related to CommLC from Issuance/Advising/Doc Exams/Payment and review of documents received under LCs—both Import and Export LCs. Ascertain conformity to LC and UCP600 and ISBP. Route documents to appropriate queues in T360 processing system for processing. Prepare cover letters and courier labels for out-going shipping documents.
• Transaction Control/Workflow Management: Contact the customers, obtaining the necessary instruction for pending discrepant documents. Provide the supervisor or account officers with the status of long pending items. Assist in assigning work to staff members, setting priorities, time limits and critical task objectives.
• Consultation on Trade Finance products/service: Provide Trade Finance technical support and guidance to account officers, middle office, product teams and customers of all US Branches/Offices, ensuring that L/C contents are complied with internal operating and compliance procedures, as well as industry practices from UCP, ISP and URC perspectives. Join product teams and A/C officers on customer calls.
• Perform compliance checks/screening for OFAC, EAR, Anti-boycott, BSA AML and JFEL (Japanese Foreign Exchange Laws)/FEFTA /Red flags/vessels/shipping lines/ports/country violations relating to trade finance documents/claims/transactions.
• Transaction Processing in Trade 360 System: Prepare Swift messages to issuing or negotiation bank; (a) requesting a waiver for discrepancies, or (b) notifying status of discrepant documents. Or (c) Reimbursement claim processing/investigations. Perform required follow-up activities; ensuring identified issues are resolved within prescribed timeframes. Prepare cover letters for the documents as required.
• Investigation: Respond to inquiries received from customers/Relationship Managers and issuing/negotiating banks regarding pending documents/transactions. Ensure timely responses and follow-ups are done.

Qualifications

• 5-10 years of first line management and operational experience in Trade Finance related products, especially Commercial LCs in a banking environment with ability to work independently and work with a team, customers and relationship managers on technical and operational matters.
• Sound knowledge of UCP600 and ISBP.
• Strong interpersonal skills, verbal and written communication skills and ability to work in an automated system environment are required.

Skills

• Computer skills in MS Excel, Word, PowerPoint and general computer systems usage is a plus.

Education

• Degree or equivalent work experience equally preferable
• Degree in finance or another relevant field

Pay

The typical base pay range for this role is between $89K - $104K depending on job-related knowledge, skills, experience, and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation.

Benefits

Our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, paid vacation, sick days, and holidays.

Schedule

The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day.