BA4 Letter of Credit Analyst

Job description

Barclays moves, lends, invests and protects money for customers and clients worldwide. Please visit our website here for more information.

The Letter of Credit is part of US Global Payments Team located at 1301 Sixth Avenue, New York, New York 10019. The Department consists of 3 staff members at varying levels of knowledge and responsibility.

Overall purpose of role : To process all incoming work, LC issuance requests, amendments, payments, examination of documents under Standby and Trade Letters of Credit in an accurate and timely manner.

Key Accountabilities and Skills required:

o Key specific accountabilities.

o Timely execution of requests from clients (Internal and External) with respect to issuing, amending Letters of Credits, Including, drawdowns, extensions, wire transfers, and investigations. Clients include all Barclays Bank Plc branches and Affiliates, Beneficiaries and internal staff as appropriate.

o Second Check all incoming Trade documents. Notifying clients or agents of discrepancies and following up with appropriate action.

o Ensure compliance with all LC Industry standards UCP600, ISP98 and regulatory requirements (Sanctions, AML/Anti-Boycott/Reg W) including all KYC verifications for Letter of Credit clients.

o Processing Standby Letters of Credit draws and notifying clients if document/s not in compliance.

o Ensure the timely and accurate set-up and maintenance of static and transactional data on all Bank Systems and databases relating to client, sanction, and L/C information.

o Create and review Weekly/Monthly reconciliation and balance reports.

o Ensure that fees are collected and notification sent in a timely manner.

o Provide comments to line officers, Barclays offices and Affiliates as appropriate regarding acceptable wording of Letters of Credit (Standby and Trade).

o Assist with Adhoc projects and assignments.

o Stakeholder management and leadership.

o The team interacts with both internal and external clients on LC issuances (e.g. on LC wordings and requirements for issuances and/or amendments). Our key business partners internally are as follows:

Barclays Capital Inc., US Municipals-Liquidity Desk, UK Retail Banking, Barclays Corporate, GRCB-Western Europe, GRCB-Emerging Markets, GRCB-ABSA, Barclays Wealth UK, legal , and compliance groups.

o Risk and Control: All Barclays colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.

Your Skills and Qualifications will include

o Basic Qualifications

o 2+ years Experience in the financial services sector, or 2 year Associates Degree.

o 1 ½+ years of experience in Letter of Credit Issuances and Amendments (current Standby and Trade)

o 1+ year of Basic Microsoft Word and Excel skills

o Preferred Qualifications

o Strong Verbal and written communication skills

o Working knowledge of SWIFT Messaging

o Knowledge and understanding of Sanctions, OFAC, AML, Anti-Boycott regulations, and LC Industry standards UCP600, ISP98.

o Team player

o Strong attention to detail

o Ability to work with multiple stakeholders

o Promote and continually support the Business demonstrating a commitment to continual improvement and idea generation.

o Provide support and share best practices and knowledge across team

o Ability to adapt to changing business circumstances. Readily adapts behaviour to maintain effective performance, assessing existing/changed procedures and offering practical solutions to issues.

The Benefits: Our customers deserve the best. The same goes for our employees. That's why at Barclays you'll receive a range of benefits that include a competitive salary and all the tools, technology and support you need to succeed.

Our Culture: Everything we do is shaped by the five values of Respect, Integrity, Service, Excellence and Stewardship. The values inform the foundations of our relationships with customers and clients, but they also shape how we measure and reward the performance of our employees. Simply put, success is not just about what you achieve, but about how you achieve it.

Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.

Barclays is an equal opportunity employer and are opposed to discrimination on any grounds. For more detailed information, please visit our dedicated Diversity and Inclusion site here .

EEO statement

It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.