Trade Commodity Finance Back Office Analyst

Permanent contract|New Jersey|Banking Operations

Trade Commodity Finance Back Office Analyst

New Jersey, United States Permanent contract Banking Operations

Responsibilities

The Back Officer must effectively process the transaction from its inception through the life of the deal.

They must also efficiently coordinate the actions of the various internal and external parties attached to the deal while adhering to industry practices and regulatory guidelines (AML, KYC, OFAC, Anti-Boycott)


The function covers:

  • Examining and negotiating import, standby and export letter of credit documents

  • Advising, issuing, and amending import, standby and export letters of credit with the ability to review language and provide suggestions on wording

  • Process confirmed letters of credit

  • Process incoming and outgoing collections items

  • Ability to invoice and monitor incoming fees for standby, import and export letters of credit and collections

  • Make payment via L/C system and/or SWIFT Alliance

  • Handle investigations for trade products

  • Perform duties as Letter of Credit Technician for specified accounts when coverage is needed (Payment vs. Issuance)

  • Act as an advisor to internal and external clients on trade finance related issues

  • Make necessary corrections to the General Ledger under advice to the Accounting Department

  • Perform reconciliation for suspense account

  • Trace Evergreen and Past Due items in a timely manner

  • Monitor expired items

  • Collect and apply fees



Secondary Duties and Responsibilities:

  • Creation and/or maintenance of reports for Senior Management or account officers detailing activity under specific products on a monthly basis

  • Archive trade products on a half-yearly basis

  • Coordinate and release payments and/or messages generated by allTRA and SWIFT Alliance in a timely manner



Primary Applications:

  • allTRA – Trade Finance Bank Office System

  • E3F – Document Repository

  • CMT – Incident Repository

  • KONSOLE – e-banking global platform for Trade Finance products (Client Front-end)

  • SWIFT Alliance

  • MonTran

  • Fircosoft

  • Loan IQ



External Clients Relationship:

  • Support the relationships inherent to the transaction, e.g., the applicant (borrower) and the beneficiary; Compliance; Legal; Front and Middle office for the most sensitive or complex deals

  • Effectively support client relationship

Behavioral skills:

Developing the business

  • Results orientation: Masters technical skills required for role

  • Client focus: Consistently searches for ways to improve client service



Working Together:

  • Cooperation: Steps forward to provide extra support to team leader and colleagues, when necessary



 

Technical Skills:

Products:

  • Corporate Letter of Credit / Trade Commodity Finance products (as noted above)

IT systems:

  • Automated letter of credit system, Some form of regulatory monitoring system, Loan IQ or equivalent loan processing system, LAN Workstation, Microsoft Office (Word, Excel, Powerpoint)

Profile required

Profile:

  • Must have extensive knowledge of UCP600/500, URR725, ISP98, ISBP, URDG and URC522

  • Should have automated letter of credit systems knowledge

  • Knowledge of SWIFT processing

  • Must possess at least 7 years Letter of Credit technical experience

  • Should have knowledge of a facility monitoring and batch input system

  • Should have regulatory knowledge with regards to trade finance products, i.e., AML, OFAC, Anti-Boycott





Language:

  • Fluent English

  • Knowledge of another language is a plus but not required



Possibility of Evolution:

  • Senior Technician

  • Compliance; Collateral Management; Loan Servicing; Middle Office (RCM); Audit



Context:

  • International

  • Complex / structured deals; transactional deals part of a credit line offered to Corporates

  • Strong Specialization and technical skills



Stakes:

  • Provide a high level of service to corporate and internal clients



Contacts:

  • Internal: Front Office, DFIN, STR, RCM, Foreign Exchange (traders); Funds Transfer; ITEC; Compliance; Legal

  • External: Clients, Syndicated Banks; Beneficiaries; Forwarders; Advising / Confirming Banks; Collecting Banks

Business insight

The TCF Back Officer I is responsible for the servicing of corporate clients, specifically GTPS, trade needs with regards to the following products:

Standby Letters of Credit, Documentary Letters of Credit, Guarantees, Collections, TRA Products (acceptances, silent confirmations)

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, sexual or gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Reference: 20000S55
Entity: SG AMERICAS OPERATIONAL SECURITIES
Starting date: 2021/01/25
Publication date: 2020/12/21
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