Analyst

Job Summary

Letters of Credit & Collections Analyst provides administrative and operational support to the Department/Unit in line with established services and performance goals. Work under strict deadlines and production schedule environment. The Letters of Credit & Collection Analyst is responsible for reviewing and controlling all letters of credit and collections documents, import and export, by ensuring that they contain all the information stipulated in the letter of credit, and that terms and conditions are met, to comply with all pertinent Bank Regulations.

Essential Responsibilities

• Provide technical assistance to relationship officers, corporate clients and FirstBank branches in dealing with the intricacies of traditional trade products (standby letters of credit, documentary letters of credit, checks & documentary collections)
• Written and verbal communications with internal and external customers associated with the resolution of technical letter of credit and collections construction and other associated processes.
• Responsible for verifying that documents are mailed to respective banks and/or applicants in a timely manner to prevent delays in delivery of goods to consumers, as per Letters of Credit and collections terms and conditions.
• Responsible for ensuring that all bank fees have been received by monitoring reimbursement notices
• Verify that the specifications and status of all letters of credit and collections are entered and maintained into the systems, to provide accurate reports and information of the operation to management.
• Timely resolution of inquiries received from internal and external clients and escalating any potential problems or seeking clarification as appropriate
• Follow OFAC policy and procedure when issuing, amending, and renewing letters of credit.
• Answers and resolves investigations and Customer inquiries
• Perform additional duties as assigned.

Other Responsibilities

• Provide high degree of professionalism and confidentiality in handling and having access to sensitive information.

• Assist in prepare the Bookkeeping.

• Assist management in general duties as requested.

• Support special projects requested by management.

• Support in prepare regulatory and unit reports requested by Compliance, Comptroller or Business units, assigned by the supervisor.

• Supports in obtaining all documentation requested by the auditors.

• Identify and report transactions with red flags to leadership for further review.

• Participate in the process of updating existing procedures to ensure proper documentation of processes are captured.

• Support Wire Transfers process.

Independence of Judgment

The degree of judgment is related to the compilation and/or presentation of information as well as data processing and/or presentation of possible recommendations.

Supervisory Responsibilities

This position has no direct supervisory responsibilities.

Impact of Errors

The impact of errors of this position could affect customers departmental activities and other Department’s activities or external service. Essential activities those are important for the Bank, either from other divisions or departments, or within.

Competencies

• Interpersonal communication and analytical skills
• Strong knowledge and experience of International Trade Products
• Knowledge of all transaction and procedures related to all types of letters of credit, international documentary collections, International Drafts and Cash letters, UCP 600, ISP 98, Incoterms, URC 522, U.C.C., Bank Secrecy Act, AML, and OFAC.

• Availability during emergency events and local holidays

• Write, speak, and comprehend English and Spanish
• Accounting knowledge
• Knowledge of Microsoft Office tools, preferable Excel
• Detail-oriented and deadline-driven.
• Will require in office presence 5 days a week.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Specific vision abilities required by this job include close vision and distance vision. While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is occasionally required to stand and walk.

Minimum Requirements

A bachelor’s degree and/or at least five (5) to seven (7) years of experience on a similar position in an office environment. Understand and knowledge of Letters of Credit & Collections transactions and related products.

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not indented to be an exhaustive list of all responsibilities, duties, skills required of personnel so classified. The reporting relationship may not reflect the most recent changes to the corporate reporting structure.

EQUAL OPPORTUNITY EMPLOYER