International Trade Specialist is responsible for coordinating credit and financial activities and obtaining payments for import/export operations. Acts as an advisor on matters of tariffs, markets, and federal and foreign regulations. Being an International Trade Specialist ensures that all filings, documents, and regulatory reporting are completed accurately, in a timely manner, and according to trade laws. Keeps informed of international events and changes to laws and requirements that may impact operations. Additionally, International Trade Specialist may negotiate letters of credit or handle issues with international banks. May require a bachelor's degree. Typically reports to a manager or head of a unit/department. The International Trade Specialist gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. To be an International Trade Specialist typically requires 2 to 4 years of related experience. (Copyright 2024 Salary.com)
SUMMARY:
Issuance and
Amendments of Letters of Credit (Standby letter of credit, commercial letter of
credit)
RESPONSIBILITIES:
· Issuance and amendment of Standby Letter of Credit, Commercial Letter
of Credit received from the Front Office or the customer checking the letter of
credit application and letter of credit terms for compliance with international
governing rules [UCP, ISP98, U.S. Regulatory matters].
· Review/Prepare/Process the Standby Letter of Credit, Commercial Letter
of Credit via mail/email/SWIFT and update the Standby Letter of Credit,
Commercial Letter of Credit transaction in the Trade Finance system
· Register all transactions in the online document storage system with
all supporting documents including registering the evergreen renewal terms and
pending beneficiary consents as required
· Monitor and Control evergreen notification dates and all beneficiary
consents
· Review and Prepare Letter of Credit invoices to the customer as
required including processing the transaction in the Standby Letter of Credit
system and confirming payment is received.
· Obtain a basic understanding of the applicable rules and regulations
that govern the Bank. Understand that all questions and/or clarification about
such rules and regulations should be directed to the Americas Compliance
Division. Attend Annual Compliance Training presented by the Americas
Compliance Division. Read and respond as necessary to all compliance-related
reference and directive materials received. Comply with the Bank's "Code
of Conduct".
QUAILFICATIONS:
· College diploma or equivalent.
· 5 Years of Standby Letter of Credit experience
· Working knowledge of the "UCP" currently in effect.
· TRADE FINANCE
· INVOICES
· SWIFT
· OFAC