Trade Finance Operations Specialist
6 days ago
Embark on a fulfilling career with Mitsubishi UFJ Financial Group (MUFG), one of the world's leading financial institutions. Our team of 120,000 dedicated professionals strives to deliver exceptional service to every client, organization, and community we serve.
We're committed to our values: building long-term relationships, serving society, and fostering shared and sustainable growth for a better world. With a vision to be the world's most trusted financial group, we empower our colleagues to own their careers through investments in talent, technologies, and tools.
The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details.
This role is responsible for managing Commercial LC Doc Exams-Discount/Financing Desk and processing transactions related to Commercial Letters of Credit in Trade 360 System, including:
(a) Document examination and review under LCs- both Import and Export LCs
(b) Handling discounting and financing of bills
(c) Workflow management
(d) Reporting and invoicing
(e) Special projects and UAT testing
(f) Quality control and customer service
(g) US compliance regulation checks/screening/data entry
(h) Acceptances/payments, Reimbursement claims
To achieve planned objectives, the incumbent will be assigned to the following functions:
(1) Document examinations
(2) Transaction processing
(3) Transaction control
(4) Investigation
(5) Payments
Key Responsibilities:
Commercial LC Document Examination: Examine and review documents received under LCs, ensuring conformity to LC and UCP600 and ISBP.
Transaction Control/Work Flow Management: Contact customers, obtain necessary instructions for pending discrepant documents, and provide supervisors or account officers with status updates.
Perform Compliance Checks: Screen for OFAC, EAR, Anti-boycott, BSA AML, JFEL, FEFTA, red flags, vessels, shipping lines, ports, country violations relating to trade finance documents/claims/transactions.
Transaction Processing in Trade 360 System: Prepare Swift messages, request waivers for discrepancies, notify status of discrepant documents, or process reimbursement claims/investigations.
Investigation: Respond to inquiries from customers, Relationship Managers, and issuing/negotiating banks regarding pending documents/transactions.
Requirements:
5-7 years of experience in Trade Finance products in a banking environment, with strong knowledge of UCP600 and ISBP, excellent interpersonal skills, verbal and written communication skills, and ability to work independently and as part of a team.
Education: College Degree, with Certificate or courses/exposure in International Trade, Trade and Commodity Financing a plus.
Compensation: The estimated salary range for this role is between $61,000 to $78,000, depending on job-related knowledge, skills, experience, and location. This role may also be eligible for discretionary performance-based bonus and/or incentive compensation.
Total Rewards: Our comprehensive benefits package includes health and wellness benefits, retirement plans, educational assistance, training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, paid vacation, sick days, and holidays.
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