Letters of Credit OfficerStart Application Job ID BIS-7981 CityLos Angeles StateCalifornia Exempt/Non ExemptExempt ShiftDay Work ScheduleMonday-Friday, 8-5
The Letters of Credit Officer will perform all tasks related to Letters of Credit, including drafting, issuance, advising or examining documents in an accurate and timely manner; this may apply to International Standby letters or Commercial letters of Credit.
- Timely execution of requests from clients with respect to issuing, amending Letters of Credits, Including drawdowns, rollovers, wire transfers, and investigations.
- Second Check all incoming Trade documents. Notifying clients or agents of discrepancies and following up with appropriate action.
- Ensure compliance with all LC Industry standards (UCP600) and (ISP98) and regulatory requirements including all KYC verifications for Letter of Credit clients and beneficiaries.
- Ensure the accurate set-up and maintenance of static and transactional data on all Bank Systems and databases relating to client, sanction, and L/C information, via monthly review of discrepancy and balance reports.
- Ensure that fees are collected and notification sent in a timely manner.
- Assist with adhoc projects and assignments.
- International Standby Letters:
- Responsible for drafting, issuing, advising, and examining documents presented under letters of credit to ensure that they are in strict compliance Bank policies, procedures, and International Standby Practices or Uniform Customs and Practice for Documentary Credits procedures and regulations.
- May draft and process Standby Letters of Credit draws and notifying clients if document/s not in compliance.
- Provide comments to line officers, offices and Affiliates as appropriate regarding acceptable wording of Standby Letters of Credit.
- For Commercial Letters:
- Responsible for processing export and import letters of credit transactions including drafting, issuing, advising, and examining documents presented under letters of credit to ensure that they are in strict compliance Bank policies and procedures, or Uniform Customs and Practice for Documentary Credits procedures and regulations.
- *Minimum 5 years of experience processing letters of credit (standby or commercial)
- *Minimum 3 years of basic computer experience required. (eg. Microsoft Word, Excel, Outlook, and Powerpoint.)
- *Minimum 5 years of experience with Uniform Customs and Practice for Documentary Credits and/or International Standby practices
Skills and Knowledge:
- Comprehensive knowledge of International Standby Practices and Uniform Customs and
- Practice for Documentary Credits is required.
- Excellent customer service, communication and interpersonal skills in order to interact effectively with clients and all levels of Bank personnel.
- Strong written and verbal communication skills.
- Strong analytical and problem solving skills.
- Ability to be detail-oriented and accurate in a deadline-driven, multitask-oriented environment.
- Good PC skills (e.g. Microsoft Office)
- Knowledge of MISYS TI Plus Trade Processing System is a plus.
*Represents basic qualifications for the position. To be considered for this position you must at least meet the basic qualifications.
City National Bank is an Equal Opportunity/Affirmative Action Employer, Minorities/Females/Individuals with Disabilities/Veterans
Note: This preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Note: Candidates should be advised that City National Bank does not pay interviewee travel expenses or relocation expenses for candidates who are hired unless previously agreed.