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Commodity/Standby Letter of Credit, Manager, Vice President - Hybrid - NC/NJ

Company: MUFG Union Bank
Location: Jersey City
Posted on: September 23, 2022

Job Description:

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. Across the globe, we're 180,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.With a vision to be the world's most trusted financial group, it's part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.This is a hybrid position. There are flexible work from home options available. A member of our recruitment team will discuss the options with you in more detail.Job Summary:Strong Letter of Credit (LC) draft review knowledge, product knowledge particularly Commodity LCs, Participations and Syndicated/Agent deals, Facility/Credit Agreement knowledge and industry practice. Thorough knowledge of UCP, ISP, OFAC/ Anti-boycott/ other Compliance regulations.Major Responsibilities:

  • Monitor the daily operations of the Standby LCs, Commercial LC coverage as and when required and Reimbursement Sections ensuring that: (a) All transactions, e.g. issuance, amendment, billing, or payments, etc. are completed within prescribed time frame, RAs, Sight and usance payments, investigations and (b) Reported discrepancies are resolved in accordance with established procedures.
  • Verify and release LC's, amendments, payments, and sign negotiable instruments in accordance with: (a) Prescribed time frames and (b) Authorization limits established by the Executive Management.
  • Prepare assigned Production/Operation Reports to the Management with data necessary for: (a) Evaluating the section's productivity, efficiency, and quality and (b) Reporting 'key' accomplishments and critical issues to Executive Management
  • Manage and direct the operations one or more of the following: Transaction Banking function, Treasury & Deposits and Corporate Clients Services Sections.
  • Acquire new settlement accounts for existing clients. Develop, maintain and work to broaden the deepen close business relationship with existing clients for deposit or settlement accounts in promoting settlement services.
  • Develop Strategies to promote our settlement services and implement them by coordinating with relevant groups.
  • Manage deadlines and ensure timely service delivery.
  • Develop and implement marketing strategies to establish new business with clients.
  • Provide end-user support and training for CMS.
  • Monitor and supervise activities of staff members.
  • Review departmental records and logs to ensure that customer inquiries and troubleshooting are resolved in a timely manner.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 on the basis of race, color, national origin, religion, gender expression, gender identity, sex, age, ancestry, marital status, protected veteran and military status, disability, medical condition, sexual orientation, genetic information, or any other status of an individual or that individual's associates or relatives that is protected under applicable federal, state, or local law.#LI-Hybrid

Keywords: MUFG Union Bank, Jersey City , Commodity/Standby Letter of Credit, Manager, Vice President - Hybrid - NC/NJ, Accounting, Auditing , Jersey City, New Jersey

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