Letter of Credit Associate recruitment
International bank seeks a credit administrator with letters of credit experience.
• Review Imports and Standby L/C applications for workability and ensure that necessary regulatory compliance and credit approvals are obtained prior to issuing or amending the L/C.
• Inspect Incoming Collection Documents for required regulatory compliance and collection instructions from Remitting Banks.
• Perform examination of documents presented for payment/acceptance under L/Cs for compliance with L/C terms and conditions and seek resolution of any discrepancies, if any, when required.
• Scrutinize syndicated credit agreements to extract relevant L/C information to set-up participation transaction entries i.e. booking of bank's pro-rata share of L/C liability and associated fees in the L/C automated system.
• Maintain and perform periodic updates of bank's L/C liability positions on syndicated credit facilities.
• Monitor and process of L/C fees i.e. billing, sending tracers and booking of L/C fees both on bilateral, other branches related and syndicated facilities.
• Track Standby and Participated L/C fees entries i.e. open-items in receivables, deferred, clearing and suspense a/cs. Process adjustments on those entries as needed.
• Assist customers, relationship managers or other banks on routine inquires of L/Cs and related fees.
• Monitor auto-renewable L/Cs by sending reminders to relationship managers or the other branches or banks for instructions.
Occasional preparation of syndicated L/C liability reports as required