Trade Services Officer
I. Primary Responsibilities:
A. Assist in development for trade services business line of New York Branch.
a. Update procedures for Trade Services as needed in accordance with changes of business and requirements of management.
b. Develop and upgrade trade services products and coordinate with related departments for implementation.
B. Initiate and manage trade services business of New York Branch
a. Issue Commercial and Standby Letters of Credit (L/C’s) as required by customers.
b. Advise L/C’s/ amendments to beneficiaries.
c. Examine documents presented under L/C’s.
d. Process inward and outward collections.
e. Handle all correspondence and customer issues as needed.
f. Effect payments, collect commissions and charges under all items.
g. Deal with all trade finance business.
h. Prepare and update reports for management.
i. Perform compliance checks as required.
j. Test systems with assistance of IT and other related departments.
C. Assume an active operational and service role in connection with other Chinese domestic branches.
Answer trade services related enquiries raised by other branches.
II. Additional Responsibilities:
A. Work with the AVP, Trade Services and support staff to develop strong trade services business function within Banking Operations Department.
B. Work with Compliance and Risk Management Officers to develop appropriate lines of business controls.
C. Attend annual BSA/AML training program, assume responsibility, as appropriate, to report suspicious activity to BSA/AML Officer.
III. Qualifications Required:
A. Three to five years of experience in a similar role (experience with international bank preferred).
B. B.A. degree; advanced degree in business or Financ
C. Strong project management skills.
D. Excellent organizational and analytical skills.
E. Extensive knowledge of Standby LC, forfeiting, factoring, and back to back L
F. Deep knowledge of UCP600, ISBP, ISP98 and URC522.
G. Bilingual (English and Mandarin) preferred.
H. Self starter, strong ability to multitasking, quick learner and willingness to take more responsibility assigned (i.e. thrives on increasing knowledge base).
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