Senior Standby Letter of Credit Specialist

Senior Standby Letter of Credit Specialist

Location: Jersey City, NJ 07310

Duration: 6 Months

Job Type: Temporary Assignment

Work Type: Onsite

Shift: 8.00 AM - 5.00 PM

Base Pay Range: $30.00/hr - $30.00/hr

Tek Wissen is a global workforce management provider headquartered in Ann Arbor, Michigan that offers strategic talent solutions to our clients worldwide. Our client is a company that provides banking and financial services. The company operates through two divisions, Retail Banking and Services, and Corporate and Institutional Banking.

• Transaction processing of all Standby letters of credit, Guarantees and Documentary letters of credit trade finance products offered by client within the operational model in place at any given time.
• Issuance and maintenance of standby letters of credit.
• Advising/Confirming and maintenance of standby letters of credit.
• Examination of default drawing and direct pay presentations (includes first or second examination function).
• Processing of written correspondence and verbal communications with internal and external customers associated with the resolution of technical letter of credit construction subject matter and other associated extraordinary processes.
• Calculating and tracking fees and commissions.
• Issuance and maintenance of Documentary letters of credit.
• Drafting (redlining) technical terms and conditions language to ensure proper construction of standby letters of credit, guarantees and documentary letters of credit.
• Reviewing transactions for regulatory compliance and anti‑boycott violations.
• Interacting with various parties of letter of credit transactions to resolve disputes, issuance construction, provide first and second level technical guidance, etc.
• Perform various administration functions related to the maintenance of letter of credit files.
• Resolution in a timely manner of inquiries received from internal and external clients. Includes escalating any potential problems or seeking clarification as appropriate.
• Ensure that all transactions are completed within the set time frames/deadlines established by TFO management.
• Stay current on Trade Finance Guidelines and Regulatory/Legal requirements by reference to related publications if available, active participation in designated in‑house or external training, and on the job training.
• Perform Ad‑Hoc tasks as directed by Team Leader / Management.

• Standby letter of credit technical experience (5‑7 years); knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP
  98), and familiarity with Uniform Commercial Code Article 5.
• Working knowledge of AML, OFAC and U.S. Anti‑boycott regulations.
• Microsoft Office Suite.
• Familiarity with bank accounting related to trade finance products.

• Standby and Documentary letter of credit technical experience (10 years plus); superior knowledge of UCP 600, ISP
  98, and familiarity with Uniform Commercial Code Article 5.
• Exposure to an automated letter of credit processing environment.
• Good understanding of AML and OFAC compliance regulations.
• Good understanding of letter of credit contingent and fee accounting.
• Microsoft Office Suite.
• Good written and oral communication skills.
• Good understanding of drafting technical letter of credit terms and conditions for both standby and documentary credits.

Tek Wissen® Group is an equal opportunity employer supporting workforce diversity.