Commercial Letters of Credit/Collections Specialist
- Raleigh, NC
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Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world (as ranked by S&P Global, April 2018). In the Americas, we're 13,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, developing positive relationships built on integrity and respect. It's part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. We're a team that accepts responsibility for the future by asking the tough questions and owning the solutions. Join MUFG and be empowered to make your voice heard and your actions count.
The incumbent is responsible for manning Commercial LC Document Examination and Collections desk- Remotely. And processing transactions related to Commercial Letters of Credit in Trade 360 System, which includes: (a)Document Examination- Import and Export (b) Documentary Collections- Incoming and Outgoing/ Checks (c)US compliance regulation checks/screening/data entry; and (d) acceptances/payments, Reimbursement claims.
To assist the Section in achieving its planned objectives, the incumbent is assigned to the following Functions: (1) Doc Examinations (2) Transaction Processing, (3) Transaction Control, and (4) Investigation (5) Documentary Collections
LC Document Examination/Collections
- Assist in document examinations of docs received under LCs- both Import and Export LCs.
- Route documents to appropriate queues in T360 processing system for processing. Prepare cover letters to out- going shipping documents and ensuring all endorsements are done, and reconciled against courier log.
- Handle Documentary Collection documents as well.
Perform compliance checks/screening for OFAC, EAR, Anti-boycott, BSA AML and JFEL (Japanese Foreign Exchange Laws) /Red flags/vessels/shipping lines/ports/country violations relating to trade finance documents/claims/transactions.
Transaction Processing in Trade 360 System
- Prepare Swift messages 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.
- Contact the customers, obtaining the necessary instruction for pending discrepant documents under LCs and Documentary Collections.
- Provide the supervisor or account officers with the status of long pending items.
- Respond to inquiries received from customers/Relationship Managers and issuing/negotiating banks regarding pending documents/transactions.
- Ensure timely responses and follow-ups are done.
- 2-5 years LC/Collections/ Trade Finance experience or banking/administrative experience.
- Good computing skills with knowledge in MS Word and Excel.
- Well-organized with sharp attention to details.
- Flexibility to learn new technologies/applications with ease.
- Knowledge of Import and Export Letters of Credit/UCP 600/URR 725/International Banking Standard Practice (ISBP), INCOTERMS, Compliance and or International Trade operations or Payments experience (CHIPS/FED) and knowledge of SWIFT 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.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.
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