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Trade Finance Servicing Manager

Company: New York Community Bancorp, Inc.
Location: Hicksville
Posted on: March 17, 2023

Job Description:

The Trade Finance Servicing Manager manages the Documentary Credit Operations. Ensures compliance with regulations and Bank's policy and procedures. Performs quarterly reviews of Sarbanes Oxley (SOX) controls, as it relates to the Trade Finance Servicing and identifies the Bank's exposure to certain risks. Coordinates the quarterly review, updates, management approval and submission of Sarbanes-Oxley Act (SOX), Enterprise Risk Management (ERM) for the all departments in the Loan Administration Group.

Letter of Credit

  • Administers the daily workflow of the Documentary Credits, Documentary/Clean Collections and Bank-to-Bank Reimbursement operations to ensure that all work is processed according to established procedures.
  • Verifies and approve input for incoming and outgoing Documentary/ Clean Collections, air-releases, SWIFT/Telex correspondence and Standby Letters of Credits on the IBSNet System to ensure accuracy and compliance to ICC Uniform Rules for, Collections (URC522), Standby Letters of Credit ISP98 and the Bank's policy and procedures.
  • Verifies and approves payments and acceptances for incoming and outgoing Documentary/Clean Collections on the IBSNet System to ensure accuracy.
  • Verifies and approves outgoing wires in the eGifts system.
  • Verifies and approves all wording for all standby letters of credit, prior to issuance, to ensure that they do not expose the Bank to additional risks.
  • Verifies and approves all WorldCheck hits on all documents processed or examined to ensure that they are not in violation of the Patriot Act, Bank Secrecy Act, US Country Sanctions Program or Anti Money Laundering laws.
  • Verifies and approves any partial "hits" by eGifts for outgoing S.W.I.F.T. messages relating to Import Letters of Credits and Documentary Collections.
  • Coordinates with the Bank Secrecy Department for the documenting and approval for any OFAC "hits" manual or automated on any outgoing or incoming document.
  • Coordinates technical support and upgrades to the IBSNet system and prepares reimbursement requests related to the maintenance and training for the IBSNet system.
  • Performs the quarterly review and updates of Sarbanes-Oxley Act (SOX) and Enterprise Risk Management (ERM) for the Trade Services Department.
  • Reviews and reconciles general Ledger accounts pertaining to department.
  • Formats and produces monthly volume statistics, revenue and Letter of Credit liability reports for Finance Department.
  • Maintains Excel spreadsheets and files of agreements pertaining to Letters of Credit and Collections.

    Loan Administration

    • Performs quarterly reviews of the Enterprise Risk Management (ERM) risks and objectives and ratings, to determine current exposure and implement changes where necessary.
    • Coordinates the quarterly review, updates, management approval and submission of Sarbanes-Oxley Act (SOX), Enterprise Risk Management (ERM) for the all departments in the Loan Administration Group.
    • Coordinates the yearly reviews and updates of various Regulatory and Compliance reports including: End User Computing, BPO Contract Reviews, Fraud Risk Assessment, etc.
    • Assists management with special projects, as assigned.
    • Performs special projects, and additional duties and responsibilities as required.
    • Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.

Keywords: New York Community Bancorp, Inc., Hicksville , Trade Finance Servicing Manager, Executive , Hicksville, New York

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