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Transaction Banking Professional - Hybrid

Company: MUFG Union Bank
Location: Jersey City
Posted on: November 22, 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, were 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 worlds most trusted financial group, its 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:

Were seeking a Transaction Banking Professional who will support the daily back-office operations of the Standby Letter of Credit Section and other Trade Finance Products.

  • Review Letters of Credit and Amendment queues in Trade 360 System.
  • Provide technical and system support and guidance to staff members, internal and external customers.
  • Supervise workflow assignments and ensure the work is processed in timely manner.
  • Enforce banks compliance policies and procedures.
  • Ensure implementation of all compliance regulations including OFAC/BSA/AML/JFEL/Anti-boycott regulations in the Sections operations.

    Major Responsibilities:

    • Independently issue/advise/draft language, amend, examine, transfer, assign, pay and process fees for sensitive and highest risk transactions.
    • Responsible for client impact functions and/or paying, calculating, and collecting of fees.
    • Ensure the junior staff receives proper training in all regulatory and bank compliance issues.
    • Process, review, and approve transactions.
    • Provide backup for training on new or revised functions and procedures.
    • Respond to inquiries and tracers from internal and external customers.
    • Resolve complex and high-risk inquiries with the Banks liaisons, customers, and correspondent banks regarding the status of transactions.
    • Ability to anticipate, plan, and independently prioritize work to meet the client requirements and expectations.
    • Ensure adherence to all established processing and client deadlines to ensure compliance with the departments service level commitment.
    • Ensure compliance with bank policies and procedures and various government regulatory agencies.
    • Employee would be expected to contribute to work flow or process change and redesign, and to form a strong basic understanding of the specific product or process.
    • Will be accountable for regular reporting or own process administration.
    • Prioritize and direct work to junior level employees.
    • Periodically review work of junior employees to ensure quality control and accordance with applicable external regulations and internal requirements.
    • Provide recommendations on process improvement and efficiency.

      Qualifications:

      • 3+ years of banking experience.
      • 2+ years of Standby Letters of Credit operations experience.
      • Knowledge and experience in processing SBLCs and billing/fee invoices required.
      • Experience in SBLC draft reviews and technical support is a plus.
      • Knowledge and experience of transaction processing in T-360 system, GPP, BESS, and Hotscan Systems
      • Sound knowledge of UCP, ISP, URDG, and ISPB.
      • Experience and background in Commodity Financing and Project Finance.
      • Ability to support and provide teamwork with focus of quality and prompt customer service.
      • Strong inter-personal skills, verbal and written communication skills and ability to work in an automated system environment required.
      • Ideally emerging as an expert in a specific skill set, business area or product but who remain focused primarily on daily execution.

        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 individuals associates or relatives that is protected under applicable federal, state, or local law.

        #LI-Hybrid

Keywords: MUFG Union Bank, Jersey City , Transaction Banking Professional - Hybrid, Other , Jersey City, New Jersey

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