Letter of Credit Analyst / Associate

Position Overview

The Letter of Credit Analyst/Associate is responsible for the accurate and timely execution of a wide range of activities related to letters of credit, including the issuance, advising, confirmation, amendment, and payment processing of documentary and standby letters of credit. This role supports trade finance operations by ensuring transactions are processed efficiently, accurately, and in compliance with internal policies, regulatory requirements, and industry standards.

The Associate will manage import documentary and standby letters of credit, advise and confirm export documentary and standby letters of credit, and execute payments associated with these instruments. The role requires strong attention to detail, sound judgment, and the ability to operate effectively in a fast-paced environment with strict deadlines.

The successful candidate will perform transaction controls, including compliance reviews, regulatory checks, and coordination with Middle and Front Office teams to obtain required approvals when applicable. The Associate will also be responsible for cash reconciliation, client invoicing, fee application, and providing daily updates to clients regarding letter of credit activities.

Essential Duties and Responsibilities

• Process all letter of credit transactions accurately and within established timelines.
• Issue import documentary and standby letters of credit, process amendments, and support related operational activities.
• Advise and confirm export documentary and standby letters of credit and execute payments associated with these instruments.
• Perform transaction controls and ensure compliance with applicable policies, procedures, and regulatory requirements.
• Conduct required compliance checks, including review of anti-boycott regulations, OFAC requirements, AML controls, and red flag indicators.
• Obtain necessary approvals from Middle Office, Front Office, Compliance, and other stakeholders when required.
• Deliver high-quality service to internal and external clients while adhering to service agreements, operational procedures, and control standards.
• Perform daily reconciliation of USD and foreign currency activities, ensuring accuracy and timely resolution of discrepancies.
• Support accounting-related activities, including cash reconciliation, client invoicing, and application of received fees.
• Maintain accurate records and documentation related to letter of credit transactions.
• Provide daily updates and timely responses to clients regarding letters of credit activities and transaction status.
• Review and respond to email inquiries promptly and professionally.
• Maintain strong working relationships with Middle Office, Front Office, Compliance, Finance, and other internal stakeholders.
• Identify operational issues and escalate concerns appropriately to ensure timely resolution.

Required Qualifications and Skills

• 1–3 years of relevant experience in trade finance, banking operations, letters of credit, or a related financial services environment.
• Undergraduate degree required.
• Beginner-level experience with letters of credit preferred.
• Strong organizational skills with the ability to manage multiple priorities and meet deadlines.
• Proactive, highly motivated, and able to demonstrate professionalism in all interactions.
• Strong attention to detail and commitment to accuracy.
• Effective written and verbal communication skills.
• Ability to work independently while collaborating effectively with cross-functional teams.
• Ability to perform accurately in a high-volume, fast-paced environment, often under time constraints.

Technical Skills

• Proficiency in Microsoft Excel and Word required.
• Experience with Loan IQ and SWIFT is a significant advantage.
• Strong analytical and reconciliation skills; accounting background is highly preferred.

Industry Knowledge

Working knowledge of the following trade finance rules and regulations is preferred:

• Uniform Customs and Practice for Documentary Credits (UCP), ICC Publication No. 600.
• International Standby Practices (ISP98), ICC Publication No. 590.
• Uniform Rules for Bank-to-Bank Reimbursements, ICC Publication No. 525.
• Uniform Rules for Collections (URC), ICC Publication No. 522.

Education

• Bachelor’s degree or equivalent undergraduate degree required.

Key Competencies

• Attention to detail and accuracy.
• Client service orientation.
• Strong analytical and problem-solving abilities.
• Ability to prioritize and manage competing deadlines.
• Commitment to operational excellence and regulatory compliance.
• Strong teamwork and collaboration skills.