Trade Finance Back Officer

Permanent contract|Jersey City|Finance

Trade Finance Back Officer

Jersey City, United States Permanent contract Finance

Responsibilities

Base Salary Range: $54,000 - $145,000
Base salary range does not include overtime pay, bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience.

The function covers:

  • Advising, issuing, and amending import, standby and export letters of credit

  • Process confirmed letters of credit

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

  • 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

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

  • Perform review of reconciliation for suspense account, identify any item for a Commodity transactions

  • Trace Evergreen and Past Due items in a timely manner

  • Monitor expired items and advise Team Leader accordingly

  • 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

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 relationships

Profile required

Behavioral skills:

  • Results orientation: Masters technical skills required for role
  • Client focus: Consistently searches for ways to improve client service
  • Cooperation: Steps forward to provide extra support to team leader and colleagues, when necessary

Technical Skills:

  • Letter of Credit / Trade Commodity Finance products

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:

  • 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 5 to 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

Context:

  • International
  • Complex / structured deals; transactional deals part of a credit line offered to Corporates
  • Strong Specialization and technical skills

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

Why join us

Overview: The Trade Finance Back Officer I is responsible for the servicing of Commodity clients trade needs with regards to the above products. 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.

Business insight

OUR CULTURE:

At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas. This way, we maximize our ability to serve client needs and anticipate market changes. Societe Generale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at the heart of how we operate.

D&I:

Our Diversity & Inclusion Mission: Recruit, develop, advance, and retain a diverse workforce that is united in our efforts to enhance our competitive position and deliver innovative solutions to our clients.

Our Diversity & Inclusion Vision: An engaged workforce that is demographically diverse in a way that reflects the communities in which we operate. An inclusive culture and workplace that recognizes employees' unique needs and utilizes their diverse talents. To engage our community and marketplace and position the organization to meet the needs of all its clients. For more information about our D&I initiatives, please visit this link: https://americas.societegenerale.com/en/societe-generale-about/diversity-and-inclusion/

HYBRID WORK ENVIRONMENT:

Societe Generale offers a hybrid work arrangement that offers employees the flexibility to work remotely, as well as on-site, in order to promote interaction and collaboration with colleagues while adhering to all SG standard protocols.  Hybrid work arrangements vary based on business area.  The applicable Business lines will determine and communicate the work arrangements that best meet their business needs.

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, 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: 22000TJA
Entity: SG AMERICAS OPERATIONAL SECURITIES
Starting date: 2022/12/19
Publication date: 2022/11/04
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