Assistant Vice President, Trade Finance Operations

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us

**Responsibilities***

**Manage the R&D team to ensure all BAU tasks are carried out efficiently**:
**Advising of new LCs and amendments**:

- Make copies of SWIFT messages & Mail LCs/amendments for scanning to GBS for processing and record the document ID numbers.
- Make arrangements for LC pick-ups and dispatch via courier as necessary.
- Work with the GBS team and clients for fees collection arrangements.
- Ensure that processed LCs/amendments are attached to their cover letters, duly stamped and signed by authorized officers and dispatched to clients.
- Ensure proper filing and record maintenance of LCs to be safe kept by the Bank.
- Ensure adherence to processes and procedures for clients with special handling requests.
- Return expired LCs to client.
- ** Confirmed LCs**:

- Follow up with GBS team for credit approvals and liaise with customer on status of confirmation.
- Print and collect confirmation advice, obtain the necessary signatures and scan it to the GBS team for processing.
- Contact beneficiary and release the Confirmation Letter upon collection of all fee and charges.
- Take note of special handling for specific clients and perform / process as required.
- ** LC Transfers**:

- Work with GBS team and Trade Services team in case of clarifications required from the client.
- Collect, sort and collate LC printouts.
- Endorse master LC and indicate the balance amount after transfer effected.
- ** Export LC & Import LC Presentation**:

- Receive document, time stamp, index the documents and scan over to GBS team for processing.
- Liaise with GBS team and client on resolving discrepancy.
- Follow up with client on outstanding documents.
- Send refusal notice to client.
- Ensure documents are processed and dispatched in timely manner.
- Return exhaust LC to clients on a monthly basis.

**Bank Guarantees/SBLC/Letter of Credit issuances**:

- Handling enquiries from external clients and stakeholder.
- Liaise with GBS team and clients on guarantee text reviews.
- Answer to GBS clarifications when processing a transaction.
- Ensure timeliness in processing Guarantees.
- Monitor transactions that are due for auto renewal and seek credit officer’s approval accordingly.
- Monitor expiry date of guarantee for discharge.
- Monitor and trace unpaid issuance fees.
- Obtaining prior approvals according to desktop procedures.
- Work with stakeholder, product manager and legal team whenever is required.

**Others**:
1. Ensure coverage / back up for other desks as required.

2. Work with business partners and stakeholders to resolve operational issues.

3. Perform any ad hoc tasks as assigned by the manager.

**Required Skills***
- 3 - 5 years team manager experience.
- Good knowledge of UCP 600 and bank’s policies, compliance and audit requirements
- Good knowledge of trade flows and trade products
- Good understanding and knowledge of OFAC/Anti-boycott/Anti-Money Laundering/High Risks Transaction
- Ability to communicate effectively both orally and in writing.
- Ability to plan and prioritize the daily work to achieve efficient and effective management of time.
- Be able to work well with all associates and actively promote a cohesive working environment.
- Be client focused in providing a high level or customer service and conscientiously aware of the quick turnaround time on the checking of documents.
- Excellent presentations, communication, time management, problem solving, interpersonal and team work skills.

**Desired Skills**
- Basic PC skills (Words, Excel, PowerPoint is minimum).
- Innovative and open minded, maintaining a professional & positive attitude at all times.
- Able to work under pressure & challenges.
- Leadership skills
- Sound analytical abilities.
- Basic research abilities.

**Job Band**:
H5

**Shift**:
**Hours Per Week**:
40

**Weekly Schedule**:
**Referral Bonus Amount**:
0