MUFG is looking for a professional to manage Standby LC & Commercial LC operations, ensuring efficient processing, quality control, and compliance with established procedures and SLAs. The role aims to support other units within Trade Service Operations and contribute to the department's overall objectives.
Requirements
- Strong skills and knowledge of all aspects of Standby Letters of Credit and products such as Commodity LCs, Project Finance deals, CME, DPLOC, Fronting and Syndicated/Agent deals, knowledge of facilities and commitments, credit and reimbursement agreements and in-depth knowledge of SBLC draft reviews, industry practice and negotiation of wording to mitigate operational, reputational and compliance risks.
- Knowledge of accounting and reconciliation of liabilities and fees.
- Experience across Trade Products
- hands on experience and knowledge of Trade Finance Products and International banking
- Strong draft review knowledge, product developments and industry practice.
- Perform Draft Review of all bilateral Standby LC’s
- industry practices from UCP and ISP98 perspectives.
Responsibilities
- Monitor the daily operations and ensure transactions are completed within prescribed time frame, RAs, Sight and usance payments, investigations and (b) reported discrepancies are resolved in accordance with established procedures.
- Verify and release L/C’s, amendments, payments, and sign negotiable instruments in accordance with: (a) prescribed time frames and (b) authorization limits established by the Executive Management.
- Prepare assigned Production/Operation Reports to the Management with data necessary for: (a) evaluating the section's productivity, efficiency, and quality and (b) reporting 'key' accomplishments and critical issues to Executive Management
- Perform Draft Review of all bilateral Standby LC’s and provide Trade Finance technical support and guidance to account officers, middle office, product teams and customers of all US Branches/Offices, ensuring that Standby L/C contents are complied with internal operating and compliance procedures, as well as industry practices from UCP and ISP98 perspectives.
- Ensure proper reconciliation of all GL accounts including posting of proper liability and fee accruals and timely collection and escalation on all aged and unreconciled items to the Management in timely manner.
- Discuss and participate in Front Office/Legal Department’s discussion in closing of complicated Standby L/C deals.
- Review Standby L/C Sections' procedures and controls and ensure procedure manuals are current, reflecting changes of procedures, and alignment with governing Head Office guidelines.
Other
- The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day.
- Communication and analytical skills.
- College graduate or 10 Years Banking experience and expertise
- Overseeing Trade Services Operations, including working with Risk, Audit and Compliance.
- Implement, monitor, and modify strategies for resolving identified 'performance gaps.
