Commercial Letter of Credit Analyst

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Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 150,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

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Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details.

The incumbent is responsible for manning role related  Commercial Letter of Credit and processing transactions related in Trade 360 System, which includes: (a)Examination of Documents presented under Commercial LCs; (b)Handling of Discounting and Financing of Bills; (c) Workflow Management; (d) Reporting and Invoicing; (e) Special Projects and UAT testing; (f)Quality Control and Customer Service; (g) US compliance regulation checks/screening/data entry; and (h) acceptances/payments, Reimbursement claims.

To assist the Section in achieving its planned objectives, the incumbent is assigned to the following Functions: (1) Doc Examinations (2) Transaction Processing, (3) Transaction Control, and (4) Investigation. (5) Payments

Essential Functions

• Commercial LC Document Examination: Examine and review documents received under LCs- both Import and Export LCs. Ascertain conformity to LC and UCP600 and ISBP. Route documents to appropriate queues in T360 processing system for processing. Prepare cover letters and courier labels to out-going shipping documents.
• Transaction Control/Workflow Management: Contact the customers, obtaining the necessary instruction for pending discrepant documents. Provide the supervisor or account officers with the status of long pending items. Assist in assigning work to staff members, setting priorities, time limits and critical task objectives.
• Perform compliance checks/screening for OFAC, EAR, Anti-boycott, BSA AML and JFEL (Japanese Foreign Exchange Laws)/FEFTA /Red flags/vessels/shipping lines/ports/country violations relating to trade finance documents/claims/transactions.
• Transaction Processing in Trade 360 System: Prepare Swift messages to issuing or negotiation bank; (a) requesting a waiver for discrepancies, or (b) notifying status of discrepant documents. Or (c) Reimbursement claim processing/ investigations.  Perform required follow-up activities; ensuring identified issues are resolved within prescribed timeframes. Prepare cover letters for the documents as required.
• Investigation: Respond to inquiries received from customers/Relationship Managers and issuing/negotiating banks regarding pending documents/transactions. Ensure timely responses and follow-ups are done.

Experience/Abilities:

• 5-7 years of experience in Trade Finance related products in a banking environment with ability to work independently and work with a team, customers and relationship managers on technical and operational matters.
• Sound knowledge of UCP600 and ISBP.
• Strong inter-personal skills, verbal and written communication skills and ability to work in an automated system environment are required.
• Computer skills in MS Excel, Word, Power Point and general computer systems usage is a plus.

Education

• College Degree. Certificate or courses or any specialized training/exposure in International Trade, Trade and Commodity Financing is also a plus.

The typical base pay range for this role is between $70K - $87K depending on job-related knowledge, skills, experience, and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, paid vacation, sick days, and holidays. For more information on our Tota