MUFG Union Bank Standby Letter of Credit, Senior Specialist II in Charlotte, North Carolina
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The Senior Specialist is responsible for processing/second checking and releasing transactions related to Commercial Letters of Credit in Trade 360 System, which includes: (a) issuance; (b) amendment; (c) advice; (d) confirmation; (e) transfer; (f) assignment; (g) payments; and (h) ensure end of day Queue verifications are performed and all transactions are reconciled properly and necessary actions are taken where necessary
To assist the Section in achieving its planned objectives, the Senior Specialist is assigned to the following Functions: (1) Documents Checking, (2) Transaction Processing, (3) Transaction Control, (4) Investigation, and (5) Queue checks and actions.
Issuing /Advising : Process/second check Import/Export l/c transactions, strictly observing Head Office and front office guidelines as well as applicable the l/c workflow; monitor pending l/c transactions; review and release inquiry cables; assist customers in preparing l/c application; and complete daily reconciliation of l/c transactions. U.S. and Japanese laws and regulations. Assist supervisor with:
Document Checking : Check Import/Export shipping documents against L/C terms and conditions, ensuring compliance with: (a) OFAC, EAR, Anti-Boycott, BSA AML and JFEL; (b) UCP and ISBP; and (c) organizational policies and procedures.Contact applicants, beneficiaries or presenting parties to get instructions for the timely resolution of identified discrepancies on documents. Endorse Bill of Lading, Bill of Exchange, or Original L/C, where applicable, in accordance with standard procedures.
Transaction Processing in Trade 360 System : Prepare cables to issuing or negotiation bank: (a) requesting a waiver for discrepancies, or (b) notifying status of discrepant documents. Perform required follow-up activities, ensuring identified issues are resolved within prescribed timeframes. Prepare cover letters for the documents, which are to be sent on remittance or approval basis to the issuing bank. Verify and release L/Cs, amendments, payments, and sign negotiable instruments in accordance with: (a) prescribed time frames, and (b) the authorization limits established by the Executive Management.
Transaction Control : Contact the customers, obtaining the required instructions for resolving pending discrepant documents. Assist the supervisor in preparing various reports for the department management.
Investigation : Respond to inquiries received from customers and issuing/negotiating banks regarding pending documents and/or Letters of Credit.
Two years banking experience of Trade LC or One year of Standby LC operational handling and processing.
Operations and Business or Trade Finance is a plus.
Internship in Trade Finance or International Operations of Standby Letter of Credit area is a plus.
Excellent and effective Word processing and Excel Skills.
Knowledge of International Banking or trade operations.
Good written and verbal communication skills and Customer Service.
Ability to work in a team and automated system environment with good inter-personal skills.
Knowledge of Commodity Financing and Fronting LC processing is a plus.
Knowledge of Trade 360 System and hands on processing experience is given priority.
High School Graduate or Equivalent Diploma.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.
Primary Location: NORTH CAROLINA-Charlotte
Schedule Full Time
Req ID: 10038366-WD