Operations Analyst - Level 3 - Hourly

eTeam; Jersey City (NJ); On-site; USD 44,083; Full time

Job summary

A financial services provider in Jersey City is seeking a Senior Standby Letter of Credit Specialist. The role involves transaction processing, drafting terms, and ensuring regulatory compliance for trade finance products. Candidates must have 5-7 years of relevant experience and knowledge of compliance regulations. Strong proficiency in Microsoft Office Suite is required. The position offers $32/hr on W2 without benefits, and it's expected that all tasks are completed within set deadlines.

Qualifications

• 5-7 years of experience with Standby Letters of Credit.
• Working knowledge of AML, OFAC, and U.S. Anti-boycott regulations.
• Proficient in Microsoft Office Suite.

Responsibilities

• Process transactions of all Standby Letter of Credit products.
• Draft technical terms for standby letters of credit.
• Review transactions for compliance and resolve disputes.
• Ensure timely completion of all transactions.

Skills

Standby Letter of Credit technical experience

Knowledge of UCP 600

Knowledge of ISP98

Familiarity with UCC Article 5

Understanding of AML and OFAC regulations

Proficiency in Microsoft Office Suite

Job description

Job Title: Senior Standby Letter of Credit Specialist

Job Duration: 6 month

Location: Jersey City, NJ 07310

Pay Range: $32/hr on W2 without any benefits

Job Description

Responsibilities:

• Transaction processing of all Standby letter of credit, Guarantee and Documentary letter of credit trade finance products offered within the operational model in place at any given time:
  • Issuance and maintenance of standby letters of credit
  • Advising/Confirming and maintenance of standby letters of credit
  • Examination of default drawing and direct pay presentations (includes first or second examination function)
  • Processing of written correspondence and verbal communications with internal and external customers associated with the resolution of technical letter of credit construction subject matter and other associated extraordinary processes
  • Calculating and tracking fees and commissions
  • Issuance and maintenance of Documentary Letters of credit
• Drafting (redlining) technical terms and conditions language to ensure proper construction of standby letters of credit, guarantees and documentary letters of credit.
• Reviewing transactions for regulatory compliance and anti‑boycott violations.
• Interacting with various parties of letter of credit transactions to resolve disputes, issuance construction, provide first and second level technical guidance, etc.
• Perform various administration functions related to the maintenance of letter of credit files.
• Resolution in a timely manner of inquiries received from internal and external clients. Includes escalating any potential problems or seeking clarification as appropriate.
• Ensure that all transactions are completed within the set timeframes/deadlines established by TFO management.
• Stay current on Trade Finance Guidelines and Regulatory/Legal requirements by reference to related publications if available, active participation in designated in house or external training, and on the job training.
• Perform Ad‑Hoc tasks as directed by Team Leader / Management.

Minimum Required Qualifications

• Standby Letter of credit technical Letter of Credit experience (5-7 years) knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP98), and familiarity with Uniform Commercial Code Article 5
• Working knowledge of AML, OFAC and U.S. Anti‑boycott regulations
• Microsoft Office Suite
• Familiarity with bank accounting related to trade finance products

Preferred Qualifications

• Standby and Documentary Letter of credit technical experience (10+ years) superior knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP98), and familiarity with Uniform Commercial Code Article 5
• Exposure to an automated letter of credit processing environment
• Good understanding of AML and OFAC Compliance regulations
• Good understanding of Letter of credit contingent and fee accounting
• Microsoft Office Suite
• Good written and oral communications skills
• Good understanding of drafting technical letter of credit terms and conditions for both standby/documentary credits.