Trade Finance Operations - AVP
About the role
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 150,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world. Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.
Responsibilities
- Handle various activities related to CommLC from Issuance/Advising/ Doc Exams/Payment and review of documents received under LCs- both Import and Export LCs.
- Absent 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.
- 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.
- Consult 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.
- 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.
- Respond to inquiries received from customers/Relationship Managers and issuing/negotiating banks regarding pending documents/transactions. Ensure timely responses and follow-ups are done.
Requirements
- 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 writtenCommunication skills and ability to work in an automated system environment are required.
- Computer skills in MS Excel, Word, Power Point and general computer systems usage is a plus.
Qualifications
- Education Degree or equivalent work experience equally preferable
- Degree in finance or another relevant field
Skills
- Ability to work independently and with a team
- Knowledge of UCP600 and ISBP
- Interpersonal and communication skills
- Computer skills in MS Excel, Word, Power Point and general computer systems usage
Benefits
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. Additionally, 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. For more information on our Total Rewards package, please click the link below. MUFG Benefits Summary