MUFG Union Bank Analyst in Jersey City, New Jersey
About Mitsubishi UFJ Financial Group (MUFG)
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The incumbent is responsible for supervising all daily back office operations of the Commercial L/C Section. The Analyst is expected to: (a) ensure prompt review and monitoring of Section’s workflows, assist AVP in running daily operations and controls, and ensure timely release of transactions in Trade 360 System (b) ensure accurate processing of transactions and proper booking of liabilities and fees in Trade 360 System (c) ensure the instructions from front/middle offices and Standard Operating procedures are properly executed in accordance along with Standard Service Level Agreement.(d) enforcement of all operational procedures and controls. To assist the Section and department in achieving its goals, the incumbent is assigned the following Functions: (1) Workflow Management; (2) Verification; (3) Quality Control and Customer Service; (4) Performance and error mitigation and control (5) Compliance policies and procedures. (6) Special projects (7) Provide Operational Support for all U.S. Branches. (8) Ensure all queue verifications in Trade 360 System are performed and appropriate actions are taken.
Designated as a Business Continuity Key Staff Member in case of continuity issue.
Workflow Management: Monitor the daily operations of the Commercial L/C Section and workflow supervision. Assign work to affected staff members, setting priorities, time limits and critical task objective. Ensure output satisfies corresponding process requirements and priorities. Reconcile and account for all incoming items/work and ‘processed output’ in accordance with established procedures and controls. Review and oversee pending transactions, documents, discrepancies, overdue and/or delinquent transactions, section’s output reports, records and files. Responsible for accurate LC liability and fee collection. Ensure all standard operational and compliance procedures are updated and enforced. Provide timely support to new business initiatives of front offices particularly, commodity financing /discounted acceptances, sigh refinancing deals. Coordinate and ensure all Fronting LCs and Commodity Financing LCs are executed properly and promptly.
Verification: Review L/C and Amendment Queues in Trade 360 System and ensuring that all L/C’s are issued and amendments are processed and releases as requested. Verify and release L/Cs, amendments, drawings, payments, LC fee, and sign negotiable instruments in timely manner in accordance with the authorization limits established by the Executive Management
Quality Control and Customer Service: Provide technical support and guidance to staff members, Account Officers, Middle Office, all US branches and Customers on Standby LCs. Extensive customer contact relating to LC/amend issuances, Review LC terms and conditions and offer opinions and comments consistent with the internal/operating/Compliance procedures. Respond to inquiries received from customers, front/middle offices, internal auditors and correspondent banks, providing the accurate and timely information in resolution of such queries. Identify discrepancies and/or inefficiencies in customer support efforts and ensure that they are corrected, documented and implemented Assist the Manager (or the Management) in identifying risk areas and implement/monitor practices to reduce and/or prevent risk opportunities. Update procedures as and when changes to workflow process, system enhancements and internal controls are effected.
Compliance: Enforce bank’s compliance policies and procedures. Ensure implementation of all compliance regulations including OFAC/BSA/AML/JFEL//Anti-boycott regulations in the Section’s operations. Ensure the Staff receives proper training. in all regulatory and bank compliance issues. Enforce applicable internal and H.O operational procedures.
Special projects: Handle Special investigations, reports and assignments to support department Management’s goal.
5-7 years of experience in a banking environment with ability to supervise and guide staff, customers and relationship managers on technical and operational matters. Sound knowledge of UCP and ISBP. Ability to support and provide team work with focus on quality and prompt customer service. Strong inter-personal skills, verbal and written communication skills and ability to work in an automated system environment are required.
College Degree. Certificate or courses or any specialized training/exposure in International Trade, Trade and Commodity Financing is a plus.
Why Work for MUFG?
• We are a financially strong and stable bank.
• We value workplace diversity.
• We are committed to the training and development of our employees.
• We offer a matching 401k, a Retirement Plan, a variety of Flexible Health Benefits.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
Job: *Transaction Banking
Location: NEW JERSEY-Jersey City
Requisition ID: 10009675-WD