Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

*To be eligible for campus recruitment program, you can only apply for 1 position within the U.S. Branches.

The incumbent will be responsible for daily operation of export Letter of Credit documents checking and discounting. The Associate will also participate in compliance and risks control as according to departmental compliance, risks control procedures, and as directed.

The Associate may be assigned to one or more of the functions below:

Operations

• Responsible for the operation of Letters of Credit (L/C) document. examination, LC discounting, Payment according to the assignment
• Conduct first or second check for L/C documents and monitoring the weekly and monthly reports as assigned. - Input into the system the document presentation, acceptance, discount, payments, etc.
• File documentations and transaction related records
• Communicate with relevant parties to resolve problems on rejected items, propose solutions
• Take appropriate follow up action to trace payment and acceptance. - Prepare daily and monthly reports for management review
• Provide L/C training to new staff on the UCP/ ISP98, ISBP, T24 and other related system operation, and skills of handling problem documents with issuing banks and customers
• Undertake related system UAT/BCP testing according to the assignment

Compliance and Major Risks Control

• Compliance
  • Conduct due diligence of daily transactions against OFAC, KYC, BSA, Anti-Boycott, EAR and any other applicable US Government Regulations to ensure compliance and escalate if there are any concerns to supervisor and Middle Desk
    
  • Support KYC and customer due diligence in accordance to the Bank and department’s policy and procedures Contact with customers and report any unusual activities observed during their interaction with customers
    
  • Complete transactional worksheets, check for red flags and, goods pricing check, customer due diligence, negative news search, vessel check, and to ensure completion of OFAC screening, etc.
    
  • Detect and escalate red flags and unusual activities to supervisor and the Middle Desk, if necessary, support Middle desk to escalate to LCD
  • Provide data to Marketing teams and Middle Desk for the purpose of customer KYC review and the preparation of various compliance and risks control reports including report to IRMs
  • Keep abreast of compliance and regulatory updates by attending compliance trainings, workshops and seminars
• Major Risk Control
  • Successfully complete all mandatory trainings on time
  • Assist with procedure updates/reviews respective to the function as needed or on an annual basis minimum.
    
  • Responsible for providing timely responses regarding internal/external Audits, assessments/Reviews, and respective remediation as needed
    
  • Report any known deficiencies in bank systems and or bank/departmental process for consideration as a Management Self-Identified Issues (MSII); suspected fraudulent activity; accounting concerns; and/or security issues
    
  • Adhere to departmental and bank wide policies and procedures and strategies in daily activity
    
  • Execute daily duties in a professional manner that would protect BOCs reputation

Customer Services

• Respond to customer inquiries in a timely manner
• Resolve any customer’s concerns and escalate when necessary
• Act as a customer contactor

• Bachelor’s degree required at the time of hiring; Master's Degree is preferred
• Internship experience in banking industry preferred
• Knowledge in regulations and compliance trade service/trade finance operations is preferred
• Certified Documentary Credit Specialists (CDCS) certification is preferred
• Bilingual abilities in Mandarin is preferred