Trade Services Operations Associate

 SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

 

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

 

The anticipated salary range for this role is between $63,000.00 and $85,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

Trade Services-Operations is a part of the Bank's Settlement Operations group within BCDAD and is responsible for checking and approving customer imports and exports for Letters of Credit (LOCs), Collections, and coordinates other business unit financing. Services include opening and amending of LOCs, processing payments, interfacing with customers regarding discrepancies or process problems, determining the feasibility of new products/services and identifying technological requirements.

Trade finance Associate is responsible for managing issuance, negotiating, paying and discounting under Import Commercial Letters of Credit . Managing Export Advise, confirmation and Discount under Export letter of credit and handle related inquiries/investigations for Trade Services products and also managing documentary collections in accordance with Bank policies and procedures and ISP98/UCP 600/URC522.

Trade finance Associate will be responsible for the timely handling of all aspects of Trade Finance Operations and for the review, vetting and drafting of Commercial and Export Letters of Credits.

Role Responsibilities:

1) Manage the Trade Operations team and meet team targets and objectives for the year.

2) Perform and oversee daily controls and processes related to all trades operations transactions booked

3) Prepare quarterly and annual departmental reporting.

4) Check and approve transactions in trade finance system,

5) Release payments in montran

6) Second check L.C documents.

7) Verify original documents in our custody 

8) Verify all transactions are processed in accordance with departmental procedures and policies, OFAC and EAR regulations. 

9) Work as Backup for other department team leaders.  

Role Qualifications and Skills

1) 5+ years prior experience 

2) Experience and strong product knowledge of trade finance.

3) Client interaction in a previous role.

4) Excellent delivery record in previous roles, ability to manage changing priorities and high volume processes.

<