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Assistant Vice President - Trade Finance Operations
Bank Of America / Merrill Lynch
August 2, 2018
About Bank of America Merrill Lynch:
Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.
Connecting Asia Pacific to the World
Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.
Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion.
Bank of America Merrill Lynch is an equal opportunities employer.
Working in Trade Finance within the Fulfillment, Service and Operations team, responsible for the End to End processing / Handling of all Trade Finance products including Supply Chain Finance, Trade Receivables Finance, Import LC with price variation, Corporate Trade loans, and Export Credit Agency Financing.
Dealing and communicating with customers/processing centre teams/business partners
Examine documents received from clients, effectively communicating to applicants in case of discrepancies.
Ensure all essential and specific quality service levels are met.
Focus on risk management to effectively mitigate operational and credit exposure and ensure adherence to all Internal Compliance/Anti-Boycott/OFAC requirements.
Establishment/amendment and monitoring of Standby Letters of Credit/Bank Guarantees.
Communications with Credit/overseas branches for SBLC/Bank Guarantee related issues and follow ups.
Documents preparation on behalf of clients for negotiation under Export L/C/Collections as per the Service Level Agreement
Export Letters of Credit /amendments and preparation of Negotiation Worksheets, scanning to Processing Centre and dispatch of documents to overseas banks and follow up acceptance/payment
Processing of Import / Export Collections
Collect fees/commissions on SBLC and Bank Guarantees.
Pro-active and effective support provided to Clients/Business Partners/overseas banks.
Ad-hoc duties assigned time to time by the Manager.
Key Skills & Preferred Experience
Strong customer service and communication skills both written and spoken
Experience in Import Documentary Collections/Import Letters of Credit/Export Documentary Collections/Export Letters of Credit/Negotiations under Export Letter of Credit in a domestic or international bank.
Working knowledge of UCP600, ISP98, URDG758, URC522, URR525, SWIFT.
Strong interpersonal, problem solving and negotiation skills.
Proficient in the use of MS Office.
Proven time management skills and flexible with hours.
Experience within a similar role with financial services
Self starter and takes personal ownership of work
Attention to detail
Thrives on challenges and development
Solid work ethics and team player
Ability to demonstrate initiative and creative thinking
Ability to work under pressure and meet deadlines
Posting Date: 01/08/2018 Location: 1 FARRER PLACE - GOVERNOR PHILLIP TOWER - Australia