GTO Specialist III
United States-California-City of Industry
What sets Bank of the West apart from other banks is our team members–they embody the optimistic spirit of the West. There is a spirit here that drives us to do more. Our team of more than 10,000 employees is vital to the success of our Bank. They reflect our modern western values—straightforward, entrepreneurial and optimistic. We seek to create a corporate culture that fosters and rewards excellence, encourages creative thinking and respects diversity – an environment where team members are engaged, supportive of one another and enthusiastic about serving our customers. Bank of the West offers the stability of a company that has a 135 year history and is part of BNP Paribas, a European leader in global banking and financial services and one of the 6 strongest banks in the world. We offer opportunities across our diverse business lines – Retail Banking, Commercial Banking, and Wealth Management.
Responsible for processing various trade transactions such as: documentary collections, letter of credit, issuance, advising and/or amendments.
Moderately complex to highly complex terms and conditions and higher number of terms and conditions are typical for this level.
Essential Job Functions
1. Receives and reviews an assigned types of Letter of Credit (LC's) such as Import LC's, Export LC's or Standby LC's of moderate to high complexity and confirms that all necessary documents are presented pursuant to external/internal regulatory guidelines (i.e. ICC, UCP, and/or OFAC). Complexity is determined by the number and terms or conditions established in the transaction
2. Examines, verifies, and ensures that the documents are accurate and contain appropriate language (e.g. instructions,) and adhere to external regulatory guidelines. Specifically: requirements applicable to international trade transactions, foreign trade practices and the associated legal requirements.
3. Under minimal direction, manages all stages of the transaction processing including: logging, entry, internal file preparation, issuance, advising, amendments, negotiations (Examination of Documents), authorization to pay, transfer LC's, confirmation and settlements /payments. Able to process transactions with minimal reference based on level of knowledge of internal/external regulatory guidelines.
4. Handles complex customer or business partner inquiries regarding assigned international trade transactions. Resolves disputes or escalates to appropriate team member for resolution
5. Prepares and reviews all monetary and non-monetary entries adjustments for all product types (e.g. Import LC's, Export LC's and/or Standby LC's and Documentary Collections.)
6. Prepares, reviews and processes accounting and liability entries for settlement and payment of maturing banker’s acceptances.
Required Education or Equivalent Experience
- High School Diploma or GED required
- Bachelor’s Degree preferred
· 7 years in Trade Finance, International banking in a financial institution operations center
Administrative/Technical Skills/ Other Information
• In-depth knowledge and execution experience with documentary collections, bankers acceptances, AVAL's and settlement/payments.
• In-depth knowledge and application of international trade transactions, UCP 600, URC 522 and associated legal and regulatory issues and requirements.
• In-depth knowledge of customer service and dispute resolution. Respond to all LC & Documentary Collection inquiries of complex nature verbally and in writing without assistance.
• Prepares and reviews all monetary and non-monetary entries adjustments for all product types including Import LC's, Export LC's and/or Standby LC's and Documentary Collections.
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.
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.