Letter of Credit (LC) Consultant

Job Overview

Location
New York
Job Type
Full Time
Date Posted
2 months ago

Job Description

Our Client, a leading Corporate & Investment Banking Company is currently looking for a Letter of Credit (LC) Consultant to join their team in New York, NY (Hybrid).

If the opportunity interests you, please send your resume and contact details to

Primary Responsibilities:
* Process daily invoices received from corresponding banks/branches promptly.
* Prepare and send invoices to customers for bank/branch fee requests.
* Track daily invoices sent to customers and follow up as needed.
* Record standby/commercial letters of credit activity in ACBS system.
* Maintain an updated Letters of Credit file with all relevant documentation such as executed letters of credit, amendments, and compliance checklists.
* Coordinate with the Reconciliation team to report overdue items comprehensively.
* Provide daily updates to overseas branches and corresponding banks.
* Perform daily scanning of processed work for both Standby and Documentary Operations.

Additional Responsibilities:
* Ensure letter of credit transactions comply with client instructions, UCP Publication 600/ISP98, and the Bank’s credit and compliance procedures.
* Offer assistance/support to clients and corporate groups on technical aspects and practices of letters of credit.
* Prepare and execute necessary letter of credit documents using Tiger, Microsoft Word, or ACBS.
* Record standby/commercial letters of credit activity in ACBS.
* Monitor pending inquiries, discrepancies, and document resolution, ensuring active tracing via correspondence with relevant parties and follow-up until payment is secured and transactions are finalized.
* Ensure timely disbursement of funds for LC drawings and record transactions through the Bank’s accounting system (ACBS).
* Establish and maintain letter of credit authorizations based on details provided on submitted ALTAR closing requests in ACBS.

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