Risk Collateral Management, Associate
The Associate will assist both the Supply Chain Finance ("SCF") team and the Short Term Trade ("STT") team and the Director/Team Leader of Risk Collateral Management Group ("RCMG") in managing the process and procedures in setting up and executing SCF deals in the PrimeRevenue systems platform, SCF off-platform deals, SCF and Invoice Discount Finance ("IDF") programs with third party banks and also in monitoring the Global Transaction Banking Department (GTBD)- Americas portfolio by keeping track of outstandings, collateral, covenant compliance, etc.
Among other things, the role requires working with the SCF and STT teams, working closely with PrimeRevenue support staff relating to SCF transactions, and daily contact with customers as they either borrow against established lines, or issue letters of credit, setting up demand deposit accounts, and setting up customers to do interest-bearing deposits with us. In addition, from time to time the Associate may be requested to support buyer and/or supplier onboarding needs of the SCF Front Office team, including analytics support.
The Associate will process KYC requirements for new and existing SCF suppliers, and perform other administrative tasks requested to support the RCMG team, including updating and monitoring of the GTB Trade Products monthly portfolio activity (ACD Report) and updating and monitoring reporting of the utilization of Credit Risk Insurance provided by various insurance companies.
The role also requires the preparation of various New York and Head Office reports for GTBD Americas and providing GTBD Tokyo with information required to monitor SCF, IDF and CRI global customers which GTBD Americas, via RCMG, monitors on behalf of CIB. PRINCIPAL DUTIES AND RESPONSIBILITIES Regarding SCF Transactions:
Regarding IDF Transactions:
- Review legal documentation supporting SCF deals;
- Process required KYC for suppliers who will discount invoices;
- Input initial rates and accept supplier invoices for discounting in PrimeRevenue platform;
- Obtain final cost of funds and prepare reports and loan sheets;
- Insure payments are made to suppliers and obligors pay invoices when due;
- Support buyer and/or supplier onboarding
Other Transaction Monitoring as Primary or Back-up:
- Review legal documentation supporting IDF deals for which RCMG executes transactions;
- Review transaction information sent by third party banks;
- Create spreadsheets required for straight-through processing via Access and MIPS;
- Review repayment files to prepare for receipt of invoice payments at maturity;
- Work with third party bank agents to coordinate these transactions and follow up on non-payments;
- Verify the exposure and collateral position for each client or facility;
- Update the market prices of commodities on a daily basis and monitor the resulting consequences to our collateral coverage;
- Verify whether financing requests from clients (loan request, LC request, and payment request) can be approved within the existing credit facility terms and conditions;
- Prepare necessary paperwork to be circulated to supervisor / management for approval and the operations department for processing;
- Review weekly/monthly borrowing base reports and covenant compliance letters and update and distribute appropriate reports;
- Circulate, update and distribute various New York and Head Office reports for GTBD Americas;
- Report to supervisor on whether or not client is in compliance with covenants;
- Prepare KYC reports through the bank's CCDB system for new and existing customers;
- Prepare paperwork and documentation to open Demand Deposit Accounts and set up customers to leave interest-bearing deposits with the bank;
- Keep up to date files and records of daily activity with the clients;
- Obtain reservations with Tokyo, update reports, review L/Cs, process any necessary amendments, and prepare silent confirmation agreements as required to support activity under Mizuho Trade Lines;
- Support execution of Credit Risk Insurance transactions and monitoring as needed
Technical Skills Required:
- Responsible for adhering to all policy and process and procedure documents necessary to implement and monitor the PrimeRevenuePlatform
MINIMUM JOB REQUIREMENTS OR EXPERIENCE
- Sound knowledge of the operation of SCF Platforms, including PrimeRevenue;
- PC skills with a solid understanding of word-processing and spreadsheet applications; Microsoft Word, Excel and Access Bloomberg and S&P Capital IQ
- Basic understanding of banking facilities, loans and letters of credit
- Ability to learn bank systems or experience using bank systems for inquiry purposes
- Good understanding of UCP 600 and ISP 98 will be an advantage
- Excellent interpersonal and communication skills
- Strong time management and organizational skills
- Detail oriented and ability to multi-task under tight timelines
- Minimum 5 years of experience in mid office functions with an emphasis on Supply Chain Finance while working in financial institutions;
- Bachelor's degree in Finance, Economics or Business Administration
: This Job Description is not intended to be an exhaustive list of all responsibilities, skills, efforts or working conditions associated with this job. Additionally, the contents of this Job Description may be modified or expanded by the Bank over time. Company Overview
Mizuho Americas is a leading financial institution comprising several legal entities, which together offer clients corporate and investment banking, financing, securities, treasury services, asset management, research and more. Mizuho's operations in the Americas connect a broad client base of major corporations, financial institutions and public sector groups to local markets and a vast global network. Mizuho Americas is an integral part of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), which is comprised of offices in nearly 40 countries, approximately 60,000 employees, and assets of more than USD 1.8 trillion. Learn more at mizuhoamericas.com.
Mizuho Bank Ltd. offers a competitive total rewards package.
We are an EEO/AA Employer - M/F/Disability/Veteran.
We participate in the E-Verify program.
We maintain a drug-free workplace and perform pre-employment substance abuse testing.