Letters of Credit Specialist
Groom Associes
- Montreal, QC
- $83,500 per year
- Permanent
- Full-time
- Timely processing of sensitive transactions and report to management any unusual or intricate transactions requiring review, discussion and or approval.
- Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit.
- Prepare and execute required letter of credit documents using TI Plus, ACBS, Compliance systems as required. Full understanding of compliance requirements for OFAC/Vessel Tracking.
- Review daily maturity report to ensure action has been taken by Administrators, as applicable, for maturing transactions.
- Proper recording of standby/commercial letters of credit activity in ACBS and TI Plus as required.
- Monitor pending inquiries, discrepancies and resolution of documents filed. Ensure all items are actively traced via correspondence with respective parties, tickler schedule and actively follow-up until payment is secured and transaction is finalized. - Ensure amendment notices/confirmations are completed and forwarded to clients or commercial group by the L/C Administrator.
- Coordinate clearing/reconciling of open cash items and daily exceptions reported by the CBO Control Unit for L/C portfolio.
- Verification LC file contains relevant supporting documentation i.e. copy of executed letter of credit/ amendments and completed compliance checklist, when required. - Ensure timely disbursement of funds, as required for LC drawings, and record transaction through the Bank's accounting system (ACBS) for accurate accounting and reporting. - End of day check on all dashboards. Ensure all items were successfully processed and all Cosmos Controls were successfully recorded.
- Act as point of contact for periodic LC Compliance review and provide documentation requested for LCs being reviewed.
- Review past due fee report for LC portfolio to insure accuracy and timely presentation for management reporting (maximum past due period of 90 days)
- Ensure clients are billed properly, timely and with consistency in terms of format and accuracy.Qualifications:- Bachelor's or Master's degree in fields related to Business, Management, Information technology, or a related discipline
- 5 to 7 years of experience in Letters of Credit
- Knowledge of UCP 600/ISP 98/URDG 758 - Working knowledge of OFAC, Anit-Boycott, Sanctions and Trade Finance Documentation
- Good analytical, organizational and interpersonal skill
- Adaptable & flexible
- Ability to build strong relationship and foster collaboration among team members
- Strong attention to details
- Able to work independently with minimal supervision
- Ability to communicate fluently and clearly orally and in writing
- Ability to deal with multiple stakeholders.
- Hard-working, comfortable with multi-tasking and able to work under pressure
- Proficient in MS Excel/MS Word
- A self-starter who is highly motivated.Votre partenaire en recrutement - Your recruitment partnerAre you interested in this job?MONTRÉAL, TORONTO, VANCOUVER, OTTAWAHEAD OFFICE360, St. Jacques, Suite G-100
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