MUFG Union Bank Trade Finance Transaction Analyst in Charlotte, North Carolina
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Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world (as ranked by S&P Global, April 2018). In the Americas, we’re 14,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, developing positive relationships built on integrity and respect. It’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. We’re a team that accepts responsibility for the future by asking the tough questions and owning the solutions. Join MUFG and be empowered to make your voice heard and your actions count.
The Analyst is responsible for processing various types of transactions related to Standby Letters of Credit operations in particular commodity financing LCs using Trade 360 System. Within this high volume, time sensitive environment, the Analyst is expected to:
(1) Perform, understand and apply the internal and external guidelines/regulations of Standby Letters of Credit accurately and independently (2) Provide prompt Customer Service (3) Effectively time manag e multiple tasks and duties; and (4) Exercise ‘due care’ when executing each operation, which includes: (a) issuance (b) amendment (c) Confirmations (d) principal and interest draws and (e) processing of L/C liability and fees.
To assist the Section and Supervisors/Analysts in achieving its planned objectives, the Analyst is assigned to the following Functions: (1) Transaction Processing, (2) Transaction Control (3) Investigation and Customer Service, (4) Special Assignments (5) Provide Operational Support for all U.S. Branches (6) SBLC draft reviews and (7) release of transactions within authorized threshold.
Transaction Processing: Check terms and conditions of L/C/Amend applications or documents ensuring compliance with: (a) OFAC/AML/BSA/JFEL and Anti-Boycott regulations, (b) UCP/ISP guidelines and practices, and (c) SBLC Section/Dept. procedures and Bank policies and procedures. Contact customers and/or account officers, obtaining instructions for the timely resolution of identified issued related to L/C or amendment applications. Perform L/C and amendment entries accurately in Trade 360 System in accordance with the standard procedures and instructions under various types of LCs including, (a) Issuance; (b) Participation Sold; (c) Confirmations, (d) Transfers/Assignments, and (e) Fee processing in System. Prepare/process bills for LC fee accurately and send them in timely manner
Transaction Control: Ensuring that all: (a) L/C’s are issued as instructed and reconciled at EOD and My WIP queue is reconciled and all items assigned are accounted for including amendments are processed, as requested and reconciled. Perform reconciliation of LC fee received against the accrued amount or pending bills in the system, ensuring that fees are properly received and applied. Report and resolve any identified irregularities, in accordance with established procedures. Check L/C documents and payments for compliance and perform entries in Trade 360 system in accordance with the negotiating bank’s or beneficiary’s payment instructions or A/C Officers’ instructions. Follow-ups on unpaid bills and pending fees and tracers within prescribed time frames.
Investigations and Customer Service: Respond to inquiries received from customers, front/middle offices, internal auditors and correspondent banks, providing the required information accurately for the timely resolution of such queries. Provide the supervisor with the status of pending inquiries. Provide prompt and reliable Customer Service support consistent with the Section’s and departmental goal of delivering quality customer service.
Special Assignments: Assist the supervisor in preparing various reports and special projects with the required data and accurate investigations.
Two years banking experience of Trade Letter of Credit or One year of Standby Letter of Credit operational handling and processing.
Operations and Business or Trade Finance is a plus.
Internship in Trade Finance or International Operations of Import and Export 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: 10038367-WD