Intermedia Group is looking for the following Consultant:
Title: Trade Finance Operations Specialist (2 openings)
Location: Jersey City, NJ
Duration: 9 months
Responsible for processing transactions related to Commercial Letters of Credit/Supply Chain/Bank to Bank Reimbursements/Collections, which includes: (a) issuance; (b) amendment; (c) advice; (d) confirmation; (e) transfer; (f) assignment; (g) US compliance regulation checks/data entry; and (h) acceptances/payments, Reimbursement Authorizations/claims.
To assist the Section in achieving its planned objectives, the incumbent is assigned to the following Functions: (1) LC Documents Registration/ Reimbursement Authorization Set-ups (2) Transaction Processing, (3) Transaction Control, and (4) Investigation.
Document Registration/Reimbursement Authorization Set up: Register incoming Letter of Credit documents/claims and reconcile against mailroom log the same day and reconcile against the Infopac reports on the following day. Prepare cover letters to out- going shipping documents and ensuring all endorsements are done, and reconciled against courier log. Register and reconcile all incoming reimbursement authorizations and claims received from Mail Room and proper data entries are made in the System.
Perform compliance checks for OFAC, EAR, Anti-boycott, BSA AML and JFEL (Japanese Foreign Exchange Laws) /Redflags/vessels/shipping lines/ports/country violations relating to trade finance documents/claims/transactions.
Transaction Processing: Prepare cables to issuing or negotiation bank; (a) requesting a waiver for discrepancies, or (b) notifying status of discrepant documents. Or (c) Reimbursement claim processing/ investigations. Perform required follow-up activities; ensuring identified issues are resolved within prescribed timeframes. Prepare cover letters for the documents as required.
Transaction Control: Contact the customers, obtaining the necessary instruction for pending discrepant documents. Provide the supervisor or account officers with the status of long pending items.
Investigation: Respond to inquiries received from customers/Relationship Managers and issuing/negotiating banks regarding pending documents/transactions. Ensure timely responses and follow-ups are done.
1-2 years of LC/Trade Finance experience, good PC Skills.
Knowledge of Import and Export, Compliance and or International Trade operations is a plus
High school graduate or Equivalent is required
Some College level courses or degree is preferred. Any training or certificates of completion of Compliance training or experience in US compliance regulations is preferred and considered a plus
If you are interested please contact: