Trade Finance Servicing Manager
Company: New York Community Bancorp, Inc.
Posted on: March 17, 2023
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
- 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
- Verifies and approves outgoing wires in the eGifts
- 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
- 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
- Reviews and reconciles general Ledger accounts pertaining to
- 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.
- 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
- 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
Keywords: New York Community Bancorp, Inc., Hicksville , Trade Finance Servicing Manager, Executive , Hicksville, New York
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