Letters of Credit Vice President

ING • New York, NY

2d • Hybrid

About The Position

The Letter of Credit Specialist position requires a candidate with strong attention to details, knowledge of international trade regulations such as ICC rules, UCP 600, ISP98, and relevant government regulations (OFAC, export controls), proficiency in financial analysis (e.g commercial invoices, bills of lading, insurance documents, and packing lists) to ensure compliance with LC terms and conditions to detect discrepancies, and assess risk, excellent communication skills and the ability to handle complex transactions efficiently.

Requirements

• Bachelor’s degree in Finance, Accounting, Business, Economics, Mathematics, or closely-related quantitative field from an accredited U.S. school (or equivalent)
• 6+ years of relevant Letters of Credit experience
• Banking Experience
• Experience in Trade Commodity Finance Transactions
• Proficiency with systems including SWIFT
• Working knowledge of AML and OFAC Compliance regulations
• Working knowledge of International Chamber of Commerce (ICC) rules, Uniform Customs and Practice for Documentary Credits (UCP600) and international Standby Practices (ISP98)
• Strong problem solving and analytical skills
• Strong focus on controls, procedures, quality, accuracy, and detail oriented
• Self-motivated, confident, and committed to the company goals
• Able to use MS-Office with advanced knowledge in Word, Excel, and Power Point
• Capable to function under stressful conditions
• Ability to multi-task
• Flexible and learning capacity to adapt to ongoing changes
• Client service oriented

Nice To Haves

• Familiarity with Uniform Commercial Code Article 5
• Knowledge of LOAN IQ/KOMGO applications a plus

Responsibilities

• Issuance/Advising/Amending and Confirming of Letters of Credit
• Process Transfers and/or Assignment requests
• Reporting
• Fee reconciliation and billing
• Preparation, negotiation, and settlement of all Letters of Credit.
• Coordinate internal operational support including Risk Management, P&R, Treasury, and security settlement.
• Processing of payments on conforming documents
• Maintenance of pending documentary presentation
• Review and identify discrepancies in documents presented under Letters of Credit

Benefits

• In addition to comprehensive health benefits, a generous 401k savings plan, and competitive PTO, ING provides a broad array of benefits including adoption, surrogacy, and fertility services; student debt assistance; and subsidies for expenses associated with working from home, commuting, and fitness.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees