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Documentary & Guarantee Operations Technician (multiple)

Montreal, Quebec · Banking/Loans
Our client, a global leader in banking & financial services, is currently searching for multiple Documentary & Guarantee Operations Technicians to join their fast growing team.

As the Letter of Credit Specialist you will be responsible for maintaining and processing the Bank’s letters of credit portfolio, specifically the issuance, confirmation, and advising Standby/Guarantees and Import/Export letters of credit. In addition, management of all associated reconciliation issues and client invoicing/reconciliation

What you will be doing:
  • Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98/URDG 758, and the Bank’s credit/ compliance procedures.
  • Timely processing of sensitive transactions and report to management any unusual or intricate transactions requiring review, discussion and or approval.
  • Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit.
  • Prepare and execute required letter of credit documents using TI Plus, ACBS, Compliance systems as required. Full understanding of compliance requirements for OFAC/Vessel Tracking.
  • Review daily maturity report to ensure action has been taken by Administrators, as applicable, for maturing transactions.
  • Proper recording of standby/commercial letters of credit activity in ACBS and TI Plus as required.
  • Monitor pending inquiries, discrepancies and resolution of documents filed. Ensure all items are actively traced via correspondence with respective parties, tickler schedule and actively follow-up until payment is secured and transaction is finalized. - Ensure amendment notices/confirmations are completed and forwarded to clients or commercial group by the L/C Administrator.
  • Coordinate clearing/reconciling of open cash items and daily exceptions reported by the CBO Control Unit for L/C portfolio.
  • Verification LC file contains relevant supporting documentation i.e. copy of executed letter of credit/ amendments and completed compliance checklist, when required. - Ensure timely disbursement of funds, as required for LC drawings, and record transaction through the Bank’s accounting system (ACBS) for accurate accounting and reporting. - End of day check on all dashboards. Ensure all items were successfully processed and all Cosmos Controls were successfully recorded.
  • Act as point of contact for periodic LC Compliance review and provide documentation requested for LCs being reviewed.
  • Review past due fee report for LC portfolio to insure accuracy and timely presentation for management reporting (maximum past due period of 90 days)
  • Ensure clients are billed properly, timely and with consistency in terms of format and accuracy.
Required Skills/Experience:
  • Knowledge of UCP 600/ISP 98/URDG 758 - Working knowledge of OFAC, Anit-Boycott, Sanctions and Trade Finance Documentation
  • Good analytical, organizational and interpersonal skill
  • Adaptable & flexible
  • Ability to build strong relationship and foster collaboration among team members.
  • Strong attention to details
  • Able to work independently with minimal supervision.
  • Ability to communicate fluently and clearly orally and in writing.
  • Ability to deal with multiple stakeholders.
  • Hard-working, comfortable with multi-tasking and able to work under pressure.
  • Proficient in MS Excel/MS Word                                                                                        
  • 5 to 7 years of experience in Letters of Credit.

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