Lenmar Consulting Inc
Senior Standby Letter of Credit Specialist
Lenmar Consulting Inc, Jersey City, New Jersey, United States, 07390
Senior Standby Letter of Credit Specialist
Lenmar Consulting Inc Location:
Jersey City, NJ Employment type:
Contract Schedule:
Hybrid (3 days in office) Rate:
$33/hr (W2, no benefits) Description
Standby Letter of Credit technical experience (5-7 years) with knowledge of UCP 600, ISP98, and UCC Article 5. Working knowledge of AML, OFAC, and U.S. anti‑boycott regulations. Strong written and oral communication skills. Ability to draft technical letter of credit terms and conditions ensuring proper construction of standby/guarantee/documentary credits. Business Overview
The Trade Finance Operations’ primary function is to process Trade Finance related productions and transactions of BNP PARIBAS corporate clients and other BNP PARIBAS branches in compliance with Federal and International Laws and conventions. Additionally, to provide technical assistance to account officers, corporate clients, and other BNP PARIBAS employees in dealing with the intricacies of the trade related products offered by BNP PARIBAS. Responsibilities
Process all Standby letter of credit, Guarantee, and Documentary letter of credit trade finance products offered by BNP Paribas per the operational model. Issue and maintain standby letters of credit; advise/confirm and maintain them. Examine default drawing and direct pay presentations (first and second examination). Handle written correspondence and verbal communications with internal and external customers regarding technical letter of credit construction and extraordinary processes. Calculate and track fees and commissions. Issue and maintain documentary letters of credit. Redline technical terms and conditions language to ensure proper construction of standby letters of credit, guarantees, and documentary letters of credit. Review transactions for regulatory compliance and anti‑boycott violations. Interact with various parties of letter of credit transactions to resolve disputes, issuance construction, and provide first and second level technical guidance. Perform administration functions related to the maintenance of letter of credit files. Resolve inquiries from internal and external clients in a timely manner; escalations as needed. Ensure transactions complete within set timeframes/deadlines established by TFO management. Stay current on Trade Finance Guidelines and regulatory/legal requirements; participate in training. Perform ad‑hoc tasks as directed by Team Leader/Management. Minimum Required Qualifications
5‑7 years of standby letter of credit technical experience; knowledge of UCP 600, ISP98, and UCC Article 5. Working knowledge of AML, OFAC, and U.S. anti‑boycott regulations. Proficiency in Microsoft Office Suite. Familiarity with bank accounting related to trade finance products. Preferred Qualifications
10+ years of standby and documentary letter of credit technical experience. Superior knowledge of UCP 600, ISP98, and UCC 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. Excellent written and oral communication skills. Strong drafting skills for technical letter of credit terms and conditions. Seniority Level
Entry level Employment type
Full‑time Job function
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Lenmar Consulting Inc Location:
Jersey City, NJ Employment type:
Contract Schedule:
Hybrid (3 days in office) Rate:
$33/hr (W2, no benefits) Description
Standby Letter of Credit technical experience (5-7 years) with knowledge of UCP 600, ISP98, and UCC Article 5. Working knowledge of AML, OFAC, and U.S. anti‑boycott regulations. Strong written and oral communication skills. Ability to draft technical letter of credit terms and conditions ensuring proper construction of standby/guarantee/documentary credits. Business Overview
The Trade Finance Operations’ primary function is to process Trade Finance related productions and transactions of BNP PARIBAS corporate clients and other BNP PARIBAS branches in compliance with Federal and International Laws and conventions. Additionally, to provide technical assistance to account officers, corporate clients, and other BNP PARIBAS employees in dealing with the intricacies of the trade related products offered by BNP PARIBAS. Responsibilities
Process all Standby letter of credit, Guarantee, and Documentary letter of credit trade finance products offered by BNP Paribas per the operational model. Issue and maintain standby letters of credit; advise/confirm and maintain them. Examine default drawing and direct pay presentations (first and second examination). Handle written correspondence and verbal communications with internal and external customers regarding technical letter of credit construction and extraordinary processes. Calculate and track fees and commissions. Issue and maintain documentary letters of credit. Redline technical terms and conditions language to ensure proper construction of standby letters of credit, guarantees, and documentary letters of credit. Review transactions for regulatory compliance and anti‑boycott violations. Interact with various parties of letter of credit transactions to resolve disputes, issuance construction, and provide first and second level technical guidance. Perform administration functions related to the maintenance of letter of credit files. Resolve inquiries from internal and external clients in a timely manner; escalations as needed. Ensure transactions complete within set timeframes/deadlines established by TFO management. Stay current on Trade Finance Guidelines and regulatory/legal requirements; participate in training. Perform ad‑hoc tasks as directed by Team Leader/Management. Minimum Required Qualifications
5‑7 years of standby letter of credit technical experience; knowledge of UCP 600, ISP98, and UCC Article 5. Working knowledge of AML, OFAC, and U.S. anti‑boycott regulations. Proficiency in Microsoft Office Suite. Familiarity with bank accounting related to trade finance products. Preferred Qualifications
10+ years of standby and documentary letter of credit technical experience. Superior knowledge of UCP 600, ISP98, and UCC 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. Excellent written and oral communication skills. Strong drafting skills for technical letter of credit terms and conditions. Seniority Level
Entry level Employment type
Full‑time Job function
Information Technology Referrals increase your chances of interviewing at Lenmar Consulting Inc by 2x
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