Letters of Credit Specialist

2 weeks ago

Montréal, Canada Epsilon Solutions Ltd Full time

**Letters of Credit Specialist**
**Contract**
**Montreal - Hybrid**
- Ensure that letter of credit transactions are in conformity with client instructions, UCP Publication 600/ISP98, and the Bank’s credit/compliance procedures.
- Review draft letters of credit and coordinate any issues with clients.
- Ensure timely processing of sensitive transactions and report to management any unusual or intricate transactions requiring review, discussion, and/or approval.
- Provide assistance/support to clients and corporate groups on technical aspects and practices of letters of credit.
- Prepare and execute required letter of credit documents using LCMS, Microsoft Word, or ACBS, as needed.
- Review daily maturity report to ensure action has been taken on applicable, maturing transactions.
- Properly record standby/commercial letters of credit activity in ACBS and LCMS, Swift Alliance as required.
- Monitor pending inquiries, discrepancies, and resolution of documents filed; ensure that all items are actively traced via correspondence with respective parties, tickler schedule, and actively follow-up until payment is secured and transaction is finalized.
- Ensure amendment notices/confirmations are completed and forwarded to clients or commercial group by the L/C Administrator.
- Coordinate clearing/reconciling of open cash items and daily exceptions reported by the CBO Control Unit for L/C portfolio.
- Ensure that letters of credit file contains relevant supporting documentation, i.e., copy of executed letter of credit/amendments and completed compliance checklist, when required.
- Ensure timely disbursement of funds, as required for LC drawings, and record transaction through the Bank’s accounting system (ACBS) for accurate accounting and reporting.
- Ensure SWIFT messages for LC transactions are processed properly.
- Ensure all documentation for Documentary and Standby Letters of Credit are compliant. Escalate any compliance matters to both Management and Compliance.
- Review past due fee report for LC portfolio to ensure accuracy and timely presentation for management reporting.

**Management and Reporting**:

- Control & Reconciliation team
- Various IT supports
- International Trade and Transaction Banking (ITB) Front and Middle Offices
- Compliance
- Finance

**Job Types**: Full-time, Fixed term contract

Pay: $50.00-$55.00 per hour

Expected hours: 40 per week

Schedule:

- 8 hour shift
- Monday to Friday

**Experience**:

- Letters of Credit Specialist: 4 years (required)
- LCMS: 4 years (required)
- ACBS: 4 years (required)
- Swift: 4 years (required)

Work Location: In person

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