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Job Description:
Under the direction of the Unit’s Operations Manager, the incumbent will support processing of all aspects of Trade Operations, including but not limited to, issuance, advising, confirmation and amendments to Standby Letters of Credit. In addition, the incumbent will play a key role in the timely examination of documents presented under Standby Letters of Credit, payment execution and managing auto-extension related exceptions.
Responsibilities include:
- Review incoming and existing standby letter of credit applications and amendments to determine workability .
- Complete examination of documents presented under standby letters of credit to determine compliance with Letter of Credit term and conditions.
- Execute payments related to compliant draws.
- Process amendments associated with Extend or Pay draws.
- Investigate and repair auto-extension related exceptions for Standby Letters of Credit within Global Trade Operations timeliness goals.
- Identify control gaps and recommend solutions to mitigate risk.
- Work with multiple partners and clients to deliver first class customer service while observing strict compliance of JPMC’s internal policies and Standard Operating Procedures.
- Prepare daily, monthly, quarterly productivity/transaction management reports.
- Interact with internal/external customers to identify solutions for standby letter of credit requests, including financial institutions, beneficiaries, legal, advisory, compliance.
- Accurately interpret and execute instructions while protecting bank assets.
- Prepare presentations for senior managers/Product Partners (volumes/risk items and other productivity related metrics.
- Prepare and conduct ad-hoc training related to examination of documents, payments and auto-extension.
- Complete ad-hoc special projects.
- Assist in the development and implementation of Desktop procedures to facilitate training to new hires and other Trade Operations related functions.
- Support and maintain a high level quality of work, deliverable deadlines and outstanding customer service.
- Provide leadership and take ownership in complex transactions (Letters of credit, draws and auto-extension)
Qualifications
§ Five to ten years of experience in International Trade with a comprehensive understanding of trade governing rules: (UCP600, ISBP, URR725, ISP98 and Incoterms 2020).
§ Command knowledge of all Trade Operations processes (issuance, amendments, etc.).
§ Hands-on experience in the examination of documents for Standby or Commercial Letters of Credit is a plus.
§ In-depth knowledge of Auto-Extension/Evergreen conditions and the risk associated with terms and conditions is a plus.
§ In-depth knowledge of Auto-Extension/Evergreen conditions and the risk associated with auto-extensions is a plus.
§ In-depth knowledge of payment processes associated with compliant draws (Issuance, advising and confirm Standby Letters of Credit).
§ In-depth knowledge of the operation environment, operational requirements and compliance (Anti-Money Laundering-AML, OFAC, Regulation W, Boycott, Military Policy, among others).
§ Ability to prepare power point presentations, metrics to monitor volumes and other related productivity measures.
§ Ability to handle multiple responsibilities, set priorities, clearly communicate ideas to others and respond positively to demanding situations.
§ Flexibility to accommodate business needs and last minute requests.
§ Demonstrated skill and passion for problem solving and operational excellence.
§ Excellent written and verbal communication skills.
§ In-depth experience with MS Office - including Outlook, Word, Power Point and Excel (Pivot Tables, macros, etc.)
§ Certifications: Certified Documentary Credit Specialist – Desirable.
Education
§ BA/BS or equivalent work experience.
RequisitionType Professional JobSchedule Full time