MUFG Union Bank Transaction Banking Specialist I - Specialist in Jersey City, New Jersey
Do you want your voice heard and your actions to count?
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 13,000 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.
Transaction Banking Specialist I
Responsible for manning Commercial LC mail desk and processing transactions related to Commercial Letters of Credit in Trade 360 System, which includes: issuance; amendment; advice; confirmation; transfer; assignment; US compliance regulation checks/screening/data entry; and acceptances/payments, Reimbursement claims.
To assist the Section in achieving its planned objectives, you will be assigned to the following Functions: LC Documents mail receipts/ Registration, Transaction Processing, Transaction Control, and Investigation.
Mail Desk/Document Registration Setup : Receive, register incoming Letter of Credit documents and reconcile against mailroom log the same day and reconcile against the System Queues and BO Reports. Scan and route documents to appropriate queues in T360 for processing. Prepare cover letters to out- going shipping documents and ensuring all endorsements are complete, and reconciled against courier log.
Perform compliance checks/screening for OFAC, EAR, Anti-boycott, BSA AML and JFEL (Japanese Foreign Exchange Laws) /Red flags/vessels/shipping lines/ports/country violations relating to trade finance documents/claims/transactions.
Transaction Processing in Trade 360 System : Prepare Swift messages to issuing or negotiation bank; (a) requesting a waiver for discrepancies, or (b) notifying status of discrepant documents. Or (c) Reimbursement claim processing/ investigations. Perform required follow-up activities; ensuring identified issues are resolved within prescribed timeframes. Prepare cover letters for the documents as required.
Transaction Control : Contact the customers, obtaining the necessary instruction for pending discrepant documents. Provide the supervisor or account officers with the status of long pending items.
Investigation : Respond to inquiries received from customers/Relationship Managers and issuing/negotiating banks regarding pending documents/transactions. Ensure timely responses and follow-ups are completed.
1-2 years LC/Trade Finance experience or banking/administrative experience.
Computing skills with knowledge in MS Word and Excel. Well-organized with sharp attention to details.
Knowledge of Import and Export, Compliance and or International Trade operations or Payments experience (CHIPS/FED) and knowledge of SWIFT is a plus.
High school graduate or Equivalent is required
Some College level courses or degree. Any training or certificates of completion of Compliance training or experience in US compliance regulations is considered a plus.
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.
Job: Transaction Banking
Primary Location: NEW JERSEY-Jersey City
Schedule Full Time
Req ID: 10029657-WD