International Letters of Credit Specialist
GBC International Bank has been ranked among the nation’s top 5 lenders by the Export-Import Bank of the United States and is a Preferred Lender with the SBA. GBC International Bank tailors domestic and international financial solutions for international trade, commercial real estate financing, business and personal banking services, resulting in long-term client relationships. The bank is headquartered in Los Angeles, with 7 branch offices in California and 2 in Washington State. This full-time position will be located at the Monterey Park, CA branch office.
The International Letters of Credit Specialist is responsible for issuance of Standby and Transfer Letters of Credit and Assignment of Proceeds, in addition to advising, examining, financing, payments and transfer of Letters of Credit and other trade finance products.
The incumbent in the role must adhere to all department policies and procedures to ensure all internal and regulatory compliance (Anti-Boycott/OFAC/AML); collaborate with all relevant parties and maintain exemplary customer service, while responding promptly to all inbound calls in this regard.
Issue Commercial, Standby and Transfer Letters of Credit and Assignment of Proceeds;
Advise beneficiary of incoming Letters of Credit from overseas, domestic or first advising bank;
Examine import and export shipping documents and incoming and outgoing collection;
Process incoming and outgoing Fedwire payments;
Update Eximbank customer control account sheet;
Prepare FedEx airway bills;
Review and respond to corresponding e-mails involving transactions;
Assist Loan Officers with draft Standby Letters of Credit;
Complete OFAC check lists and BSA questionnaires for each transaction;
Consult walk-in and phone customers with questions regarding Letters of Credit; assist in resolving shipping document discrepancies; reviewing terms and conditions contained therein and obtaining original Letters of Credit from first advising bank involved in the transactions;
Enter daily production numbers on Excel spreadsheet for reporting purposes;
Comply with BSA and OFAC requirements and standards;
Other duties as assigned.
Bachelor’s Degree, preferred and 3 years’ related work experience;
Knowledge of UCP600, URC522, Incoterms, ISBP, SWIFT, OFAC, AML, BSA, and regulations related to the industry;
Ability to handle and escalate issues promptly; possess proficient problem-solving skills; Ability to effectively troubleshoot wide-ranging issues, while identifying and mitigating risks and keeping management informed throughout the process;
Possess astute attention to detail capabilities and follow-through acumen;
Possess efficient multi-tasking abilities between incoming calls; good time management skills and possess high level of accuracy;
Proficient oral and written English communication skills;
Fluency in Cantonese or Mandarin, a plus;
Excellent computer skills and proficient MS Word, Excel skills, required.
$18.00 - $25.00 per hour, DOE for this full-time, non-exempt position, in addition to eligibility for company-wide bonus scheme twice a year, plus benefits.
8:30AM – 5:30PM, with 1 hour for lunch, Monday - Friday
Monterey Park, CA