OverviewCIBC Letter of Credit Officer Full Time in Montréal, QC
Branch Montréal QC CA
Letter of Credit Officer
Trade Finance customers and prospective customers to market services, provide service and solve related issues and problems….
CIBC Global Operations & Intria is committed to Partnering with Canada’s BestTM organizations. Our comprehensive approach provides industry expertise, innovative ideas and strategic solutions designed to create, protect and realize stakeholder value. Partnering with clients with annual sales of between $5.0 million to $500 million, Global Operations & Intria provides integrated financial solutions to address virtually every business requirement at every stage of a company’s development and operation, including credit, asset-based financing, subordinated debt, trade finance, cash management, franchising, foreign exchange, investments, M&A and private placements of equity and debt. Our Relationship Managers are located in regionally based centers across Canada, ensuring first hand knowledge of local market conditions.
Relevant Job Criteria:
- You must have prior legal authorization to work in the location for which you are applying.
Relocation assistance is not available with this opportunity.
Purpose of Position:
Bilingualism (French and English) is required
The Letter of Credit Officer is directly accountable for the processing of documentary or standby letter of credit/guarantee applications, amendments, drawings and/or advices, documentary collections with wide latitude and discretion under the general rules and guidelines set out by the International Chamber of Commerce, local/foreign statutory requirements, shipping/transport regulations and practices and accepted banking practices as they relate to letters of credit/guarantees. Responsible for the accurate processing of Trade Finance and Letter of Credit products as requested by our clients and within expected time frames.
- Assume responsibility for the examination, advising, acceptance, amendments and of documentary Letters of Credit, Standby Letters of Credit, Guarantees and Collections ensuring:
That the terms are clearly understandable and compatible with the broad parameters of the International Chamber of Commerce
Uniform Customs and Practice for Documentary Credits as well as international shipping terms and practices.
That the conditions of the credit/guarantee are practical.
That the Bank’s interest and our client’s interest is protected.
That documentary/standby credit/guarantee/amendment conforms to the requirements of the Bank Act.
That proper drawing instructions are given to the advising bank and reimbursing bank regarding drawings under documentary/standby credits/guarantees.
The final product is accurate and has been completed within established Service Level standards.
- Co-operate with and assist other members of the personnel with the completion of the day’s work and any other tasks that could be associated with this position.
Requirements:Knowledge and Skill Requirements:
- Certified Documentary Credit Specialist (nice to have).
- A working knowledge of the Uniform Customs and Practice for Documentary Credits, Incoterms, Uniform Rules for Collections, the Bills of Exchange Act, International Standard Banking Practice, Anti Money Laundering, Uniform Rules for Demand Guarantees, Reputation and Legal Risks Procedures.
- Demonstrated knowledge of some Trade Finance products and accompanying documentation requirements including transportation, customs tariff and clearance procedures, transport insurance and mercantile law.
- Above average written and verbal communication skills.
- Good problem solving skills sufficient to analyze problems and develop and recommend alternatives or solutions.
- Working knowledge of CIBC policies and procedures covering Reputation and Legal Risks and Anti Money Laundering/Know your Client.
- Working knowledge of internal CIBC operations.
- Good interpersonal skills including the ability to establish and maintain good working relationships both internally and externally.
- Good knowledge of Excel and Word as well as the Letter of Credit system TISA.
- Administrative, organizational and time management skills.
- Adaptable – comfortable with and responsive to change.
- Persistent – follows tasks through to conclusion.
- Trade Finance Skills, 3 years (must have)
- Various areas within CIBC generally at the Relationship Manager or Manager level
- Trade Finance customers and prospective customers to market services, provide service and solve related issues and problems.
- Corporate Credit Products – Financial Institutions and Global Transaction Banking – TF Sale and other internal partners.
Job Complexities and Challenges:
- Delivering value add service to our clients and prospects on a timely basis, while at the same time complying with regulatory requirements and internal operational procedures.
- Keeping current on industry trends with respect to Trade Finance products as a competitive advantage.
Physical Demands and Working Conditions:
- Extended exposure to Personal Computer
- Peak periods may require additional hours to be worked.
Location of Position(s):
Employment Type: Full Time
Location: Montreal, QC, CA
Posted on: 2015-03-23