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Location New York, United States Category Operations & Business Support Date posted 29/06/2020 Job ID 2002036
Associate, Back Office- Letters of Credit Specialist-2002036

Description

Brief Summary:

Responsible for supporting all Back Office related activities of Trade and Lending Operations to ensure the efficient delivery of all Trade and Lending products and services to the Bank’s clients.

Responsibilities:

  • Support the daily operations of the Trade and Lending department in an efficient and effective manner

  • Responsible for ensuring the proper booking of transactions in operational systems.

  • Responsible for the aging and resolution of invoices.

  • Responsible for maintaining and tracking of volumes of transactions.

  • Responsible for preparing Management Activity reports including CIB cash Flow reports and other metrics as assigned

  • Responsible for Audit confirmations

  • Responsible for the efficient and accurate processing of Standby Letter of Credit aligned with the Uniform Customs and Practice for Documentary Credits (2007 Revision (UCP600) or International Standby Practices(ISP98) , as well as with the Bank Policy and Procedures

  • Perform and review reconciliations and related accounts

  • Examination of documents (SBLC and Commercial Letters of Credits)

  • Ensure compliance with regulatory requirements

  • Monitoring SBLCs’ with automatic extension clause(Evergreen LCs’) that needs an approval for extension of Expiry date, as well as confirmation from the clients

  • Review of SBLC Invoices.Monitoring receipt of funds and instructing back office on the application of funds received.

  • Monitor Bridge Account, Idom Reconciliation,.

  • Review SBLC accruals and Invoices sent to Clients.

  • Provide accounting guidance to operations team to ensure accurate reporting and income recognition.

  • Ensure that process controls are performed in accordance with SLA, as well with Bank Policy and Procedures

  • Review legal documentation presented for safekeeping for completeness.

  • Update and maintain various access database used to control and report exposures,.

  • Ensuring that legal documentation is adequately stored and maintained for all approved facilities

  • Ensure compliance with credit approval and bank credit policy at all times

  • Perform and review reconciliations and related accounts

  • Manage varied workload – ability to multitask and prioritize deliverables – for a variety of projects and initiatives.

  • Assist and collaborate with co-workers and team members to achieve the unit’s goals.

  • Liaison between Front/Middle, back office and Finance, answering or channeling questions to ensure the timely processing and accurate reporting of core banking products.


At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We encourage everyone to apply.



Qualifications


    • Minimum 2 Years college degree in business or financial accounting

    • Work Experience:Minimum 2 - 5 Years

    • Banking operations experience with knowledge of SBLC and commercial letter of credit processing and Loans / lending activities (preferred).

    • Knowledge of Cash Management and customer service related experience (optional).

    • System Knowledge of SWIFT, Trade Innovation, LoanIQ and Equation

    • Experience: Minimum 2 - 5 Years of Experience

    • Knowledge MS Access, Excel and word.

    • Organized and detail oriented self-starter.

    • Knowledge of Financial Accounting and banking operations.

    • Knowledge of Standby Letter of Credits, uniform Customs and Practice for Documentary Credits (2007 Revision (UCP600) or international Standby Practices (ISP98) helpful but not required.

    • Knowledge of Responsible Standby Letter of Credit aligned and Uniform Customs and Practice for Documentary Credits (2007 Revision (UCP600) or International Standby Practices(ISP98)

    • Knowledge of Loans, bilateral and syndicated loan lending.

    • Ability to communicate (verbal and written).

    • Bi-lingual preferred (English/Spanish or Portuguese)

    • Rigorous attention to detail with a control oriented mindset

    • Strong organizational and analytical skills and ability to multi-task with minimal follow-up

    • Strong quantitative skills proficient in data management and production of management reports and executive summaries







    Job

    :Business Operations

    Primary Location

    :New York-New York-45 East 53rd Street - 06547 - NY Corp

    Organization

    :NYB SAT (NYB_0002)

    Schedule

    :Full-time

    Job Posting

    :Jun 29, 2020, 3:08:01 PM

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    • Operations & Business Support, New York, New York, United StatesRemove