MUFG Union Bank Trade Service Technical Specialist in Jersey City, New Jersey

About Mitsubishi UFJ Financial Group (MUFG)

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The incumbent is responsible for processing various types of transactions related to Standby Letters of Credit operations in particular commodity financing LCs using Trade 360 System. Within this high volume, time sensitive environment, the Specialist is expected to: (1) Perform, understand and apply the internal and external guidelines/regulations of Standby Letters of Credit accurately (2) Provide prompt Customer Service (3) Effectively time manage multiple tasks and duties; and (4) Exercise ‘due care’ when executing each operation, which includes: (a) issuance (b) amendment (c) Confirmations (d) principal and interest draws (e) processing of L/C liability and fees.

To assist the Section in achieving its planned objectives, the incumbent is assigned to the following Functions: (1) Transaction Processing, (2) Transaction Control, and (3) Investigation and Customer Service. (4) Special Assignments (5) Provide Operational Support for all U.S. Branches.

Major Responsibilities

•Transaction Processing: Check terms and conditions of L/C/Amend applications or documents ensuring compliance with: (a) OFAC/AML/BSA/JFEL and Anti-Boycott regulations, (b) UCP/ISP guidelines and practices, and (c) SBLC Section/Dept. procedures and Bank policies and procedures. Contact customers and/or account officers, obtaining instructions for the timely resolution of identified issued related to L/C or amendment applications. Perform L/C and amendment entries accurately in Trade 360 System in accordance with the standard procedures and instructions under various types of LCs including, (a) Issuance; (b) Participation Sold; (c) Confirmations, (e) Transfers/Assignments, and (f) Fee processing in System. Prepare/process bills for LC fee accurately and send them in timely manner. - 60%

•Transaction Control: Ensuring that all: (a) L/C’s are issued as instructed and reconciled at EOD and My WIP queue is reconciled and all items assigned are accounted for (b) amendments are processed , as requested and reconciled. Perform reconciliation of LC fee received against the accrued amount or pending bills in the system, ensuring that fees are properly received and applied. Report and resolve any identified irregularities, in accordance with established procedures. Check L/C documents and payments for compliance and perform entries in Trade 360 system in accordance with the negotiating bank’s or beneficiary’s payment instructions or A/C Officers’ instructions. Follow-ups on unpaid bills and pending fees and tracers within prescribed time frames. - 25%

•Investigations and Customer Service: Respond to inquiries received from customers, front/middle offices, internal auditors and correspondent banks, providing the required information accurately for the timely resolution of such queries. Provide the supervisor with the status of pending inquiries. Provide prompt and reliable Customer Service support consistent with the Section’s and departmental goal of delivering quality customer service. - 10%

•Special Assignments: Assist the supervisor in preparing various reports and special projects with the required data and accurate investigations. - 5%


  • Two years banking experience of Trade LC or one year of Standby LC operational handling and processing.

  • Excellent and effective Word processing and Excel Skills. -Knowledge of International Banking or trade operations.

  • Ability to work in a team and automated system environment with good inter-personal skills.

  • Knowledge of Commodity Financing and Fronting LC processing is a plus. Knowledge of Trade 360 System and hands on processing experience is given priority.

  • High School Graduate or Equivalent Diploma. Knowledge of ISP and UCP.

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: *Operations

Title: Trade Service Technical Specialist

Location: NEW JERSEY-Jersey City

Requisition ID: 10010065-WD