Processes and supports complex Letter of Credit transactions in adherence to ICC (International Chamber of Commerce) guidelines.
Primary Responsibilities:- Complete issuances and advisements of complex Commercial, Performance/Financial Standby, Direct Pay Standby Letters of Credit and/or Foreign Guarantees for customers in a timely and accurate manner.
- Complete document examinations and transfers of complex Commercial, Performance/Financial Standby, Direct Pay Standby Letters of Credit and/or Foreign Guarantees.
- Interpret legal documentation associated with complex letter of credit transactions.
- Monitor workflow and provide cross-training assistance for less experienced staff; provide feedback to management on progress of cross-training efforts.
- Participate as a member and/or leader of letter of credit project teams.
- Identify fraudulently presented items through the use of International Trade Finance (ITF) policies, procedures and controls.
- Review and release of letter of credit transactions and wire transfers as needed.
- Create transaction summaries and work with Compliance, Legal, Commercial and Business Banking as well as external counsel, foreign financial institutions and Bank customers.
- Provide guidance to less experienced personnel on non-standard letter of credit draft language.
- Understand and oversee of participated and syndicated letters of credit.
- Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management.
- Promote an environment that supports belonging and reflects the M&T Bank brand.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Complete other related duties as assigned.
The focus of this role is on executing and monitoring letter of credit transactions in support of the Commercial and Business Banking Departments of the Bank. The position reviews and releases letter of credit and wire transfers up to $10 mm as needed.
Education and Experience Required:Bachelor’s degree and a minimum of 1 year’s related work experience, or in lieu of a degree, a combined minimum of 5 years’ higher education and/or work experience, including a minimum of 1 year’s related work experience
Advanced understanding of ICC Guidelines, Anti-Boycott regulations, AML (Anti-Money Laundering) and OFAC (Office of Foreign Assets Control)
Familiarity with letter of credit terms and conditions
Experience working independently and in a team environment
Experience interacting with all levels of the organization
Detail-oriented
High degree of accuracy
Strong verbal and written communication skills
Strong personal computer skills and intermediate knowledge of pertinent software products
Strong customer service skills
Strong organizational skills
Strong analytical skills
Strong problem-solving skills
Education and Experience Preferred:International Trade Operations experience
Commercial lending experience
Certified Documentary Credit Specialist (CDCS) or other recognized International Trade Finance certification
Ability to function as a project leader
Knowledge of pertinent Bank systems
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $62,835.42 - $104,725.70 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.LocationBridgeport, Connecticut, United States of AmericaSimilar Jobs
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What We Do
M&T Bank is a multi-state community-focused bank serving New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and Washington, D.C. Founded in 1856, the company provides banking, investment, insurance and mortgage financial services to more than 3.6 million consumer, business and government clients.
