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CIB - Export LC Transaction Processing Specialist

Req #: 170107961_1
Location: Chicago, IL, US
Job Category: Operations
Job Description:

About J.P. Morgan Corporate & Investment Bank

J.P. Morgan’s Corporate & Investment Bank (CIB) is a global leader across banking, markets and investor services.  The world’s most important corporations, governments, and institutions entrust us with their business in more than 100 countries.  With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk, and extends liquidity in markets around the world.

 

The Transaction Processing Specialist will perform day-to-day diverse tasks pertaining to Letter of Credits for bank clients as per the following requirements:

  • Under minimal supervisions perform detailed and in-depth duties related to all aspects of Letter of Credits and/or Collection
  • Serve as the main Letter of Credits operations representative providing complete customer service to clients; process includes advising, amendments, document preparation and examination, payment and all related communications under Letter of Credits.

Major functions:  Working independently and within a team, under minimal supervision, perform the following detailed and complex activities:

  • Serve as a back up to the supervisor

  • Review the work of junior staff

  • Monitor the work flow queues and assign transactions for processing to the team
  • Review documentation received to determine acceptability
  • Interpret and input information from source documents into processing system
  • Have the ability to follow complex methods and procedures in the performance of varied routine and non-routine tasks
  • Check shipping documents for conformity with terms and conditions
  • Respond to electronic and Swift correspondence
  • Resolve inquiries and on behalf of any involved party
  • Process or second check transactions based on threshold amounts determined within department
  • Identify any Red Flags/OFAC regulatory/AML & Boycott Language in the transactions
  • Perform additional responsibilities as assigned

  • Thorough knowledge of UCP 600, UCC 522, ISBP, Boycott regulations, and OFAC compliant requirements including complex processing (i.e., Transfer, Back to Back LC, USAID, EXIM, Collection, Standby L/C and Country Specific documents).
  • Extensive knowledge of all phases of Letter of Credit transactions.
  • Ability to work effectively under pressure controlled by deadlines.
  • Ability to organize and change priorities frequently within a given day, multitask, work independently and with others while demonstrating a positive attitude, and the ability to work with focus and urgency.     
  • Strong attention to detail, planning, and timeliness.
  • Good PC skills with a proficiency in Microsoft Word and Excel required.  Proficient in typing and data entry skills.
  • Excellent interpersonal skills to facilitate customer service and teamwork.
  • Strong communication skills; both written and oral.
  • Ability to follow standing procedures and understanding of clients’ instructions which may differ among transaction and client.
  • Strong ability to follow instructions as it relates to transactional processing and any other related subject.
  • Ability to make decisions and utilize all available resources and tools to minimize corporate and client risk.
  • Capable of making balanced judgment from both perspective of the bank and exporter and independent decisions within the scope of the procedure.
  • At least two years previous banking experience in Letter of Credit processing, including letter of credit document examination is required.  CDCS preferred.
  • Ability to prepare, format, and proof for accuracy of data content for internal and external reports as it relates to the data on assigned transactions.  

 Work schedule:  Monday - Friday / Flexible 8 hours between 8am - 7pm

 

JPMorgan Chase offers an exceptional benefits program and a highly competitive compensation package. 

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