Letters of Credit VP

Social Capital Resources; New York (NY); On-site; USD 150,000 - 230,000; Full time

Job summary

Social Capital Resources represents a top-tier bank in Manhattan seeking an experienced VP to lead the Letters of Credit unit. The role focuses on issuance, confirmation, advisory, and standby/guarantees within import/export finance.

You will oversee front-office relationships, ensure compliance with client instructions and UCP 600/ISP 98/URDG 758, and manage daily workflow, reconciliation, and approvals in ACBS/LCMS and SWIFT as required.

Qualifications

• Bachelor's degree required in a relevant field.
• 7+ years of commercial and standby L/C experience.
• Experience with commodity-based clients is preferred.
• Knowledge of UCP 600/ISP 98/URDG 758 is required.
• Ability to examine trade finance documents in detail.

Responsibilities

• Administer the bank's L/C portfolio including issuance, confirmation, and advising Standby/Guarantees and Import/Export L/Cs.
• Manage reconciliation issues and front-office relationships.
• Ensure L/C transactions conform to client instructions.
• Oversee daily workflow and act as backup for approvals and releases.
• Review maturity reports and manage actions for maturing transactions.
• Approve transactions to record L/C activity in ACBS and LCMS, and Swift Alliance as needed.

Skills

LC Issuance

ACBS LCMS

Trade Finance

Front-Office Liaison

UCP 600/ISP 98/URDG 758

Education

Bachelor's Degree

Tools

ACBS

SWIFT

Job description

Top-Tier Bank in Manhattan is seeking a Letters of Credit VP!

Responsibilities:

• Administration of the Bank’s letters of credit portfolio, specifically the issuance, confirmation, and advising Standby/Guarantees and Import/Export letters of credit.


• Management of all associated reconciliation issues and management of front office relationship.


• Ensure that letter of credit transactions are in conformity with client instructions


• Ensuring daily workflow is properly processed and backup for approval and release of transactions.


• Review daily maturity report to ensure action has been taken by Administrators, as applicable, for maturing transactions.


• Approve transactions to record standby/commercial letters of credit activity in ACBS and LCMS, Swift Alliance as required.

Qualifications:

• Bachelor's Degree


• 7+ commercial and standby letters of credit experience


• Experience with Commodity based clients.


• Knowledge of UCP 600/ISP 98/URDG 758


• Examination of all relevant trade finance documents


• Fluency in Mandarin or Cantonese is a plus