Job Description

Reference # : 17-06673Title : Letters of Credit Technician
Location : Newark, NJ
Position Type : Direct Placement
Experience Level : Start Date : 07/14/2017
Description

Letters of Credit Technician
Start your career in the Financial Services Industry. Eclaro is looking for a Letters of Credit Technician for our client in Newark, NJ.
Eclaro's client is a global bank with operations in consumer, corporate and institutional banking and treasury services across more than 70 countries worldwide. If you’re up to the challenge, then take a chance at this rewarding opportunity!

The LC Issue/Amendment Technician receives letter of credit issuance or amendment instructions from corporate/commodity customers or SWIFT series 700 messages, from correspondent banks and, after completing the credit, instruction authentication and regulatory compliance reviews, issues advises or makes amendments to commercial or standby letter of credit commitments. Technician may, from time to time, be requested also by Client or RM to structure Standby Letter of Credit and usually perform these tasks against time pressure. This is a full time position.


RESPONSIBILITIES:
  • Responsible to review and edit unreleased draft of the LC for compliance purposes and to eliminate ambiguous terminology, misspellings, unworkable terms or other inconsistencies before the credit is released to a beneficiary or an dvising bank
  • Ensure that all original instruction media and related documentation is properly handled and secured when not being used in the production process.
  • Review commercial and standby letter of credit applications and amendments for accuracy, completeness and compliance with the Bank's credit and operating procedures.
  • Verify that required signature validations, message testing indicators, credit approvals, legal approvals (when required) are attached or im­printed on the instruction.
  • Complete production work within the time and quality standards set by management.
  • Ensure that transaction files are complete (original application, boycott review stamps, LIMIT or LTP approvals, related memoranda, Swift messages, etc., are in the file before warehousing.
  • All work initiated must be professional looking in appearance and accurate in format and content. The work must be free of errors and conform with the Bank's and external regulatory agencies' guidelines and regulations.
EXPERIENCE/SKILLS REQUIRED:
  • Good decision making, excellent verbal and written communication skills and creativity
  • Must have a good, working knowledge of ICC Publication Number 600, The Uniform Customs and Practice for Documentary Credits and Publication Number 590, International Standby Practices, ISP 98
  • Must have a good understanding of the U.S. Treasury and Commerce Department's regulat­ions governing OFAC, anti-boycott and other compliance requirements and must be able to properly apply those regulations during their work day
Interested in applying? Contact Andrew McCarrick at Andrew@eclaro.com

Equal Opportunity Employer: Eclaro values diversity and does not discriminate based on Race, Color, Religion, Sex, Sexual Orientation, Gender Identity, National Origin, Age, Genetic Information, Disability, Protected Veteran Status, or any other legally protected group status.

Application Instructions

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