Letter of Credit Specialist I

City National Bank • Los Angeles, CA

105d • $18 - $27

About The Position

The Letter of Credit Specialist I processes import, export, and standby letters of credit transactions in accordance with Bank policies and procedures, Uniform Customs and Practice for Documentary Credits, and International Standby Practices.

Requirements

• Bachelor's Degree or equivalent.
• 2 years Banking experience.
• At least 2 years of current banking experience processing Import Letter of Credit/Export Letter of Credit/Documentary Collection/Standby Letter of Credit.
• Knowledge of UCP 600, URC522 and ISP98.
• Strong analytical and problem-solving skills.
• Excellent verbal and written communication skills.
• Proficient in Microsoft office suite (Excel, Word, Outlook) and ability to learn specialized banking systems.
• Strong attention to detail, organizational skills, and ability to manage multiple tasks in a fast-paced environment.
• Experience in client-facing service roles demonstrates strong interpersonal skills.

Nice To Haves

• CDCS (Certified Documentary Credit Specialist) certification preferred.

Responsibilities

• Issue, amend and pay Import, Export Letter of Credit in accordance with UCP 600.
• Advise, amend and Pay Export Letter of Credit in accordance with UCP 600.
• Draft, issue and amendment Standby Letter of Credit in accordance with ISP98.
• Examine documents presented under Export or Import Letter of Credit in accordance with the UCP 600 and ISBP rules.
• Examine documents presented under Standby Letter of Credit in accordance with ISP98.
• Initiate and pay incoming and outgoing Documentary Collections in accordance with URC522.
• Create, discount Banker’s Acceptance.
• Process foreign currency transactions.
• Process more complex transactions such as Transfer and Assignment of Proceeds, Air release and Shipside Bond and Reimbursement Claims.
• Perform Compliance Review including but not limited to OFAC Screening of the Parties and complete the OFAC Check List for each transaction.
• Handle and resolve customer inquiries and processing issues.
• Process Incoming and Outgoing Fed wire payment.

Benefits

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date.
• Generous 401(k) company matching contribution.
• Career Development through Tuition Reimbursement and other internal upskilling and training resources.
• Valued Time Away benefits including vacation, sick and volunteer time.
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs.
• Career Mobility support from a dedicated recruitment team.
• Colleague Resource Groups to support networking and community engagement.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees