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.