Trade Finance Clerk Job in New York
Job Title: Trade Finance Clerk
Job Duties / Responsibilities:
– Analyze LC applications and/or incoming LC’s for workability in accordance with AML and US Regulations, applicable rule set and desk policies and process the requests. Work with import/export Standby, Commercial LC’s and URDG Guarantees.
– Review documents and ensure their compliance with the LC, AML and US Regulations, Applicable rule set and desk policies and process all related payments sight or time.
– Process incoming and outgoing collections.
– Respond to inquiries.
Education and Experience
– Minimum 5 years related experience.
Working expertise/knowledge of all of the following:
– Basic Foreign Exchange issues
– SWIFT rules
– Detailed knowledge of AML, OFAC/Boycott/SDN and other government regulations/sanctions such as Arms Proliferation Act and Dual Use Goods
– Federal Bank’s Acceptance Regulations (Both hold/discount) and Deferred Payments
– Standby L/C types/rules including ICC publication 590
– Uniform Customs and Practices for Doc. Credits I.C.C. (Int’l Chamber of Commerce) pub. No 600 and Standard Banking Practice for the Examination of L/C Documents
– Simple interest financings/loans
– Uniform Rules for Collections I.C.C. publication URC 522
– Bank Guarantees
– Payment mechanisms i.e. CHIPS and Fed. Funds
– Various types of documents and their legal status i.e. bills of lading, certificates of origin, drafts, etc.