Financial Services Recruitment
Robert Half Financial Services are recruiting for a Trade Finance Administrator role within a global Corporate and Investment Bank located in midtown Manhattan New York. Our client requires 4+ years’ Trade Finance or Letters of Credit experience at an International Bank with knowledge of manual processes and sanctions/due diligence screening. This role is initially fully remote during the pandemic, but will eventually require some time in the midtown office.
- Issuing and amending Standby Letters of Credit and Bank Guarantees
- Preparing due diligence (sanctions / negative news) screenings documentation to be sent to the appropriate departments for screening.
- Maintaining the portfolio and following up with customers and banks on all aspects of these transactions.
- Maintaining daily customer contact and providing advice in connection with the handling of Credit transactions.
- Advising Relationship Managers on the products available to their customers.
- Process, standby letters of credit and bank guarantees that are approved for handling in the branch according to guidelines in a timely and efficient manner;
- Provide daily customer contact and advise in connection with the handling of all standby letters of credit and bank guarantees transactions;
- Due diligence (sanctions / negative news) documentation.
- Complete documentation to be sent for due diligence screening.
- Verify that administrators have completed the due diligence documentation correctly.
- Verify that sanctions screening is performed accurately by appropriate department
- Annotate findings correctly on checklist
- Issue standby letters of credit and bank guarantees as per customers’ written requests;
- Book transactions relating to issuances, reductions, increases extension etc. into BFM;
- Bill customer for fees and book fees into BFM;
- Ensure that fee payments due are received and booked accurately and that past due items are followed up on;
- Ensure that transactions are posted correctly and, if errors is made, that they are corrected in a timely manner to prevent losses to the bank and the customer;
- Recognize dubious and speculative business / transactions and report to the appropriate people / department;
- Check reconciliation accounts (Nostros and Internal accounts) daily to ensure that there are no outstanding items.
• 4+ years’ Trade Finance or Letters of Credit experience at an International Bank
• Knowledge of sanctions/due diligence screening and UCP, URDG, ISP rules
• Bachelor degree in Business/Finance/Accounting or similar
This Trade Finance Administrator role is initially fully remote during the pandemic, but will eventually require some time in the midtown office, so please only apply if you are able to travel to this location, have relevant experience for the role and are eligible to work in the United States. The salary is dependent on experience, and the range is $75-85k base with excellent benefits. If your profile matches the above criteria, please contact me on **firstname.lastname@example.org**