Trade Credit Services Associate

Sumitomo Mitsui Banking Corporation•Jersey City, NJ

1d•$78,000 - $120,000•Hybrid

About The Position

The Trade Credit Services Associate reviews and processes all Standby Letter of Credit products under client portfolio. This is a tactical and transactional role with a broad range of responsibilities related to the department and the bank's objectives. Serves as an expert resource based on experience handling Standby Letters of Credit transactions. May train others. Follows established guidelines to identify problems and frequently applies subject matter expertise to resolve problems and issues.

Requirements

Extensive knowledge of UCP, ISP regulations
Extensive knowledge of Evergreen L/Cs and Direct Pay L/Cs (monthly draws).
Functional knowledge of 700 SWIFT series (i.e. 799,760, 767)
Strong analytical and critical thinking skills, with ability to analyze risk and identify mitigating factors
Ability to coordinate and communicate with various internal departments across the organization.
Excellent verbal, interpersonal and written communication skills.
Excellent mentoring and management proficiency with demonstrated ability to influence others.
High level customer service mindset with a commitment to supporting both internal and external stakeholders.
Work Experience: 5 to 7 years of comparable or relevant experience
Education: BA/BS
Skills: MS Word, MS Excel, MS PowerPoint, MS Access; LoanIQ, SWIFT

Responsibilities

Reviews and processes Standby Letter of Credit products assigned deals into the LoanIQ system.
Verifies that bank records accurately reflect the terms of the credit agreement and approval limits.
Accurately process and book standby letters of credit
Quality assures lending services to customers and supports the maintenance of accurate data in their profiles.
Interprets reimbursement agreements, approved credit applications and credit agreements.
Adheres to internal and external regulatory policies and procedures.
Troubleshoots basic structure related functional problems/issues.
Verifies that all monies due to the bank are collected and/or reconciled.
Supports Treasury Desk and its daily requirement to accurately manage its cash and funded positions.
Manages end-to-end work flow; prioritizes team tasks in accordance with departmental objectives.
Trains and coaches staff; provides technical expertise as needed.
Investigate audit requests.
Participates in Disaster Recovery exercises to ensure smooth recovery of applications in the event of unplanned business disruption.