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ING Hubs Poland · 1 day ago

Letters of Credit Vice President

New York

Full-time

Hybrid

Mid, Senior Level

$168K/yr - $212K/yr

6+ years exp

ING Financial Services LLC is a part of ING’s Wholesale Banking division offering a range of innovative financial products and services. The Letters of Credit Vice President will manage all aspects of Trade Commodity Finance Operations, ensuring compliance and efficiency in the handling of Letters of Credit.

AppsInformation TechnologyPaaSSoftware

Responsibilities

The Letters of Credit Specialist will be responsible for the timely handling of all aspects of Trade Commodity Finance Operations and for the review, vetting and drafting of Standby and Commercial Letters of Credits, including, but not limited to the:

Issuance/Advising/Amending and Confirming of Letters of Credit

Process Transfers and/or Assignment requests

Reporting

Fee reconciliation and billing

Preparation, negotiation, and settlement of all Letters of Credit

Coordinate internal operational support including Risk Management, P&R, Treasury, and security settlement

Processing of payments on conforming documents

Maintenance of pending documentary presentation

Review and identify discrepancies in documents presented under Letters of Credit

Qualification

Letters of Credit experienceInternational trade regulationsFinancial analysisSWIFT proficiencyAMLOFAC complianceTrade Commodity FinanceAnalytical skillsClient service orientedMS-Office proficiencyProblem solving skillsDetail oriented

Required

Bachelor's degree in Finance, Accounting, Business, Economics, Mathematics, or closely-related quantitative field from an accredited U.S. school (or equivalent)

6+ years of relevant Letters of Credit experience

Banking Experience

Experience in Trade Commodity Finance Transactions

Proficiency with systems including SWIFT

Working knowledge of AML and OFAC Compliance regulations

Working knowledge of International Chamber of Commerce (ICC) rules, Uniform Customs and Practice for Documentary Credits (UCP600) and international Standby Practices (ISP98)

Familiarity with Uniform Commercial Code Article 5

Knowledge of LOAN IQ/KOMGO applications a plus

Strong problem solving and analytical skills

Strong focus on controls, procedures, quality, accuracy, and detail oriented

Self-motivated, confident, and committed to the company goals

Able to use MS-Office with advanced knowledge in Word, Excel, and Power Point

Capable to function under stressful conditions

Ability to multi-task

Flexible and learning capacity to adapt to ongoing changes

Client service oriented