Trade Finance Associate

Company: Flagstar Bank
Location: New York
Posted on: May 4, 2024

Job Description:

***Trade Finance/Letters of Credit Experience, this is the opportunity for you*** In this position, you are responsible for maintaining Trade Finance files, track document exceptions, review, maintain, complete various department reports, file folders, and maintain imaging process. Ensure issuance and amendment functions in the Trade Finance Department are completed and complied in accordance with established guidelines and policies by performing the following duties.In this role, your primary responsibilities will include:

• Processes all lifecycle events and compliance related to Commercial Letter of Credits, Standby Letter of Credits, and Documentary collections in a timely and accurate manner.
• Capture and/or release all related fee, liability and other associated entries in ACBS.
• Read and respond to corresponding emails.
• Perform daily and monthly reconciliation of accounts.
• Provide technical and transaction support to Trade Associates when needed.
• Place and remove hold on collateral accounts for the Trade Finance Department.
• Create and maintain folders, file folders and archive closed files.
  To be successful, your background should match these qualifications:
  • High school diploma or general education degree (GED)
  • Minimum 3-4 years related work experience in Letters of Credit (Trade services) mainly in Commercial Letters of Credit, Standby Letters of Credit and Documentary Letters of Credit
  • Must show a proficiency in the construction of Standby and Documentary Letters of credit. Must show an understanding of UCP600 and ISP98 rules governing letters of credit
  • Strong client service skills
  • Strong verbal & written communications
  • Proficiency in Microsoft Office Suite (i.e., Word, Excel, PowerPoint)
  • Ability to communicate within all levels of the organization
  • Work in challenging situations
  • Strong attention to detail
  • Strong analytical skills

Keywords: Flagstar Bank, Jersey City , Trade Finance Associate, Accounting, Auditing , New York, New Jersey