Letter of Credit (LC) Specialist

Responsibilities

1. Document Preparation & Compliance

• Document Scrutiny: Thoroughly review shipping documents (e.g., Bills of Lading, Commercial Invoices, Certificates of Origin, and packing lists) to guarantee 100% compliance with LC terms and conditions
  
• Discrepancy Resolution: Collaborate with freight forwarders and suppliers to fix document discrepancies to avoid payment delays or banking penalties.
  
• Regulatory Adherence: Ensure all trade transactions comply with international trade regulations and the International Chamber of Commerce (ICC) rules, such as UCP 600 etc
  

2. LC Administration & Bank Coordination

• LC Issuance & Amendment: Draft, issue, and amend Letters of Credit in coordination with the company’s corporate banking partners.
  
• Negotiation & Settlement: Act as the primary point of contact for advising, confirming, and negotiating LC payments with issuing and advising banks.
  
• Record Keeping: Maintain a meticulous filing system of all LC applications, amendments, and related correspondence for corporate audits.
  

3. Risk Management & Cost Control

• Risk Mitigation: Collaborate with financial institutions to secure payment guarantees, protecting the company against buyer default or supplier nondelivery.
  
• Cost Analysis: Track LC bank fees, confirmation charges, and interest rates to optimize trade finance costs.
  

Requirements

• Education: A bachelor’s degree in finance, Accounting, International Business, or Economics.
  
• Experience: 6 – 9 years in trade operations, corporate treasury, or international Operations of any reputable banking
  
• Certifications: Specialized qualifications like the Certified Documentary Credit Specialist (CDCS) or Certificate in International Trade & Finance (CITF) are highly preferred
  
• Industry Knowledge: Deep familiarity with international trade laws and ICC rules, specifically UCP 600 (Uniform Customs and Practice for Documentary Credits) and ISP98. CBN Trad Portal, etc.
  
• Technical Skills: Proficiency in financial tracking software (e.g., Trade360, Loan IQ, AFS) and SWIFT messaging.
  
• Certifications: Professional credentials such as the Certified Documentary Credit Specialist (CDCS) are highly preferred
  

Essential Soft Skills

• Exceptional attention to detail to spot minute discrepancies in lengthy financial documents.
  
• Strong communication skills for coordinating between buyers, sellers, and advising banks across different time zones.
  
• High analytical and problem-solving abilities to navigate ambiguous or complex transaction bottlenecks.