Letter of Credit Specialist
The role of a Letter of Credit Specialist is to manage and execute letter of credit (L/C) transactions. This involves a deep understanding of international trade finance, banking procedures, and regulatory compliance.
This specialist ensures that all L/Cs are issued, amended, and negotiated accurately and efficiently, while mitigating risks associated with international trade. The role requires close coordination with banks and internal departments to verify documentation and maintain compliance with relevant regulations.
Main Responsibilities:
* L/C Processing and Compliance:
- Verify documentation thoroughly to ensure all terms and conditions of export and import L/C are met.
* Coordination and Communication:
- Liaise with banks to allocate L/Cs and obtain confirmation approvals, including pricing quotations.
* Transaction Management:
- Prepare and send import L/C issuing requests to the banks, ensuring accuracy and timeliness.
* Record Keeping:
- Maintain meticulous records of all transactions within the company's CTRM system to ensure accuracy and compliance with record-keeping standards.
Requirements:
To be successful in this role, you will need:
* Bachelor's degree in Finance, International Trade, Business Administration, or related fields.
* Fluent in English, any other language is an asset.
* Experience in handling trade finance instruments, particularly letters of credit.
* Knowledge of international trade rules, including UCP 600.
* Proficiency in trade finance and compliance software systems.
Working Environment:
This role offers a hybrid working environment.