Letter of Credit Officer – 12 Month Contract

As one of Canada's Top 50 Employers for the sixth consecutive year, Scotiabank places great importance on recognizing and rewarding strong performance. We offer room for advancement, a stimulating work environment and the resources to help you make the most of your career. Together, we continue to make Scotiabank a great place to work.

Global Transaction Banking brings to the fore the Scotiabank Group's capabilities in cash management, payments, trade finance and correspondent banking, and foreign exchange, as well as retail and self-service electronic banking products. Together, our people's expertise and enthusiasm helps develop personal and integrated business solutions and deliver them to clients of all three business lines on a global basis.

Reporting to the Senior Assistant Manager, the Letter of Credit Officer is directly responsible for evaluating and processing the business line risks associated with the processing of Letter of Credit transactions for an assigned group of customers and ensuring that delivery schedules are consistently met and that customer service is maintained at a high level.

You are responsible for maintaining regular contact with assigned customers and their respective relationship managers or client portfolio analysts not only from the point of view of ensuring that L/C transactions are properly handled, but also providing specialist advice and counsel within their level of competence. Furthermore, the Letter of Credit Officer will provide specialist assistance to the Trade Finance Business Development Officers who will responsible for obtaining new business. There is also a responsibility to provide both technical and administrative support to branch personnel.

POSITION SUMMARY:

The Letter of Credit Officer is accountable for all transactions within limits as assigned for Alberta and Saskatchewan clients.

Key accountabilities for this role:

1. Review and release of advised and confirmed L/Cs, the thorough examination of documents, accepting drafts drawn on the Bank and release of payments for Export L/Cs

2. Review of applications/format of the instrument, release of completed SBLC/LG, co-ordination with credit officer on on-line loan information to comply with bank credit standards, thorough examination of documents when Demand is received and release of payments for Standby Letters of Credit / Letters of Guarantee.

3. Receiving documents (invoice and B/L) from clients, sending SWIFT messages at the request of our clients, checking and releasing payments and updating Tradexpress Balance History Report for Documentary Collections (Incoming and Outgoing) and Direct Collections

4. All Letter of Credit transactions are handled in accordance with International Rules Regulations (UCP600, ISP 98, Bills of Exchange Act) with specific attention being paid to compliance and documentary risks inherent in these transactions

5. Process Letters of Credit within the Bank's authorized limits

6. Effectively mitigate transaction and compliance risks associated with Letters of Credit.

7. Acquire and maintain high level of competence and awareness in global trade related matters

8. Demonstrate technical proficiency to ensure the smooth operations of all automated systems (LCS, TRADEXPRESS elite and AS400)

9. Acquire and maintain working knowledge of the Bank's domestic and international credit procedures and the ability to assess compliance, transaction and business risks in the context of Letters of Credit

QUALIFICATIONS:

EDUCATION:

OTHER INFORMATION:

The Scotiabank Group is an equal opportunity employer and welcomes applications from all interested parties. We thank you for your interest, however, only those candidates selected for an interview will be contacted. No agencies please.

If interested, please apply online at http://track.tmpservice.com/ApplyClick.aspx?id=1305161-1848-3930