VP, Letters of Credit Supervisor
Insight Global
Job Description
One of Insight Global's Top Clients within the Banking Industry is looking for a VP, Letter of Credit Supervisor to sit on site 3 days a week in Manhattan, NY. This person will sit within letters of credit and support trade finance. The VP will manage a team of 3-8 letter of credit technicians, ensuring all their daily work is processed. The VP will be responsible for approving transactions, recording standby or commercial letters of credit activity within ACBS and Trade Innovations, ensuring timely disbursements of funds, clearing and reconciling open cash items, and coordinating daily with Canada team on work coming in based on pipeline. This person needs to have 5+ years of experience within trade finance and letters of credit, experience managing over 3 people, and strong trade finance and compliance knowledge. Additional Responsibilities Include :
Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98, and the Banks credit/ compliance procedures.
Ensure timely processing of sensitive transactions and report to management any unusual or intricate transactions requiring review, discussion and or approval.
Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit.
Prepare and execute required letter of credit documents using Tiger, Microsoft Word, or ACBS, as needed.
Review daily maturity report to ensure action has been taken by Administrators, as applicable, for maturing transactions.
Monitor pending inquiries, discrepancies and resolution of documents filed, ensure that all items are actively traced via correspondence with respective parties, tickler schedule and actively follow-up until payment is secured and transaction is finalized.
Approve outgoing SWIFT messages for LC transactions and manual wire transfers for payments, as required.
Review and approve letter of credit authorizations entered by LC staff in ACBS from submitted ALTAR Closing Requests.
Act as point of contact for periodic LC Compliance review and provide documentation requested for LCs being reviewed.
Review past due fee report for LC portfolio to insure accuracy and timely presentation for management reporting
Prepare annual reviews for LC staff.
We are a company committed to creating inclusive environments where people can bring their full, authentic selves to work every day. We are an equal opportunity employer that believes everyone matters. Qualified candidates will receive consideration for employment opportunities without regard to race, religion, sex, age, marital status, national origin, sexual orientation, citizenship status, disability, or any other status or characteristic protected by applicable laws, regulations, and ordinances. If you need assistance and/or a reasonable accommodation due to a disability during the application or recruiting process, please send a request to HR@insightglobal.com . The EEOC "Know Your Rights" Poster is available here (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12ScreenRdr.pdf) .
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Skills and Requirements
Must haves
5-7+ years of experience with letters of credit
5+ years of experience within Standby LCs
Hands on experience managing 3+ people
Bachelors Degree
Trade and Compliance Knowledge, including UCP 600, ISP 98
Strong experience with Excel (pivot tables, macros, etc) Experience with Trade Innovations Experience with ACBS null
We are a company committed to creating diverse and inclusive environments where people can bring their full, authentic selves to work every day. We are an equal employment opportunity/affirmative action employer that believes everyone matters. Qualified candidates will receive consideration for employment without regard to race, color, ethnicity, religion,sex (including pregnancy), sexual orientation, gender identity and expression, marital status, national origin, ancestry, genetic factors, age, disability, protected veteran status, military oruniformed service member status, or any other status or characteristic protected by applicable laws, regulations, andordinances. If you need assistance and/or a reasonable accommodation due to a disability during the application or the recruiting process, please send a request to HR@insightglobal.com.
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