Company
Mizuho Bank LtdLocation
USA-NY-New York CityRemuneration
65000-75000Position Type
PermanentEmployment type
Full timeUpdated
29-Oct-2013eFC Ref no
1256885
The Trade Finance Administrator will
assist the SVP/Team Leader of Risk Collateral Management (RCMG) in
monitoring the GTF NY portfolio by keeping track of outstandings,
collateral, covenant compliance, etc.
About the Company
Mizuho Bank, Ltd. provides financial and strategic solutions for the increasingly diverse and sophisticated needs of its clients. In the U.S., Mizuho and its affiliates provide comprehensive corporate and investment banking services to major corporations, financial institutions, and public sector entities. With offices in more than 30 countries, Mizuho Bank, Ltd. offers clients both localized service and the extensive reach of a global business network. Mizuho Bank, Ltd. is a subsidiary of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), one of the largest financial services companies in the world, with total assets of over $1.9 trillion as of March 31, 2013.
AFPD Division
Global Trade Finance New York (GTF NY) is part of the Americas Financial Products Division (AFPD) which is responsible for providing specialized products and services to the clients of Americas Corporate Banking Division #1, Corporate Finance Division and International Finance in the Americas. AFPD is divided into five groups - International Finance, Lease Finance, Project Finance, Syndicated Finance and Global Trade Finance.
Summary
The Trade Finance Administrator will assist the SVP/Team Leader of Risk Collateral Management (RCMG) in monitoring the GTF NY portfolio by keeping track of outstandings, collateral, covenant compliance, etc. The role requires daily contact with customers as they either borrow or issue letters of credit, setting up demand deposit accounts, and setting up customers to do interest-bearing deposits with us. The role also requires the preparation of various New York and Head Office reports for GTF NY and providing GTF Tokyo with information they require to monitor the global traders and other accounts which GTF NY manages. In addition, the role also entails processing KYC requirements for new and existing clients, and doing any other administrative tasks requested to assist the GTF team, including processing and monitoring of Mizuho Trade Line (MTL) portfolio activity.
Principal Duties and Responsibilities
Verify the exposure and collateral position for each client or facility
Update the market prices of commodities on a daily basis and monitor the resulting consequences to our collateral coverage
Verify whether financing requests from clients (loan request, LC request, payment request) can be approved within the existing credit facility terms and conditions
Prepare necessary paperwork to be circulated to supervisor / management for approval and the operations department for processing
Review weekly/monthly borrowing base reports and covenant compliance letters and update and distribute appropriate reports
Circulate, update and distribute various New York and Head Office reports for GTF NY
Report to supervisor on whether or not client is in compliance with covenants
Prepare KYC reports through the bank’s CCDB system for new and existing customers
Prepare paperwork and documentation to open Demand Deposit Accounts and set up customers to leave interest-bearing deposits with the bank
Keep up to date files and records of daily activity with the clients
Obtain reservations with Tokyo, update reports, review L/Cs, process any necessary amendments, and prepare silent confirmation agreements as required to support activity under Mizuho Trade Lines
Qualifications
Eligible to work in the US
Bachelor’s degree in Finance, Economics or Business Administration
2 years of experience doing this same job for a commodity finance bank. Otherwise, 3 years experience in another back/middle office function (Loans and letter of credit Department) at either Mizuho or another bank.
Basic understanding of banking facilities, loans and letters of credit
Word, Excel, the ability to learn bank systems or experience using bank systems for inquiry purposes. Good understanding of UCP 600 and ISP 98 will be an advantage.
Excellent interpersonal and communication skills
Strong time management and organizational skills
Detail oriented and ability to multi task under tight timelines
Mizuho Bank Ltd. offers a competitive total rewards package.
We are an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.
Mizuho Bank, Ltd. provides financial and strategic solutions for the increasingly diverse and sophisticated needs of its clients. In the U.S., Mizuho and its affiliates provide comprehensive corporate and investment banking services to major corporations, financial institutions, and public sector entities. With offices in more than 30 countries, Mizuho Bank, Ltd. offers clients both localized service and the extensive reach of a global business network. Mizuho Bank, Ltd. is a subsidiary of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), one of the largest financial services companies in the world, with total assets of over $1.9 trillion as of March 31, 2013.
AFPD Division
Global Trade Finance New York (GTF NY) is part of the Americas Financial Products Division (AFPD) which is responsible for providing specialized products and services to the clients of Americas Corporate Banking Division #1, Corporate Finance Division and International Finance in the Americas. AFPD is divided into five groups - International Finance, Lease Finance, Project Finance, Syndicated Finance and Global Trade Finance.
Summary
The Trade Finance Administrator will assist the SVP/Team Leader of Risk Collateral Management (RCMG) in monitoring the GTF NY portfolio by keeping track of outstandings, collateral, covenant compliance, etc. The role requires daily contact with customers as they either borrow or issue letters of credit, setting up demand deposit accounts, and setting up customers to do interest-bearing deposits with us. The role also requires the preparation of various New York and Head Office reports for GTF NY and providing GTF Tokyo with information they require to monitor the global traders and other accounts which GTF NY manages. In addition, the role also entails processing KYC requirements for new and existing clients, and doing any other administrative tasks requested to assist the GTF team, including processing and monitoring of Mizuho Trade Line (MTL) portfolio activity.
Principal Duties and Responsibilities
Verify the exposure and collateral position for each client or facility
Update the market prices of commodities on a daily basis and monitor the resulting consequences to our collateral coverage
Verify whether financing requests from clients (loan request, LC request, payment request) can be approved within the existing credit facility terms and conditions
Prepare necessary paperwork to be circulated to supervisor / management for approval and the operations department for processing
Review weekly/monthly borrowing base reports and covenant compliance letters and update and distribute appropriate reports
Circulate, update and distribute various New York and Head Office reports for GTF NY
Report to supervisor on whether or not client is in compliance with covenants
Prepare KYC reports through the bank’s CCDB system for new and existing customers
Prepare paperwork and documentation to open Demand Deposit Accounts and set up customers to leave interest-bearing deposits with the bank
Keep up to date files and records of daily activity with the clients
Obtain reservations with Tokyo, update reports, review L/Cs, process any necessary amendments, and prepare silent confirmation agreements as required to support activity under Mizuho Trade Lines
Qualifications
Eligible to work in the US
Bachelor’s degree in Finance, Economics or Business Administration
2 years of experience doing this same job for a commodity finance bank. Otherwise, 3 years experience in another back/middle office function (Loans and letter of credit Department) at either Mizuho or another bank.
Basic understanding of banking facilities, loans and letters of credit
Word, Excel, the ability to learn bank systems or experience using bank systems for inquiry purposes. Good understanding of UCP 600 and ISP 98 will be an advantage.
Excellent interpersonal and communication skills
Strong time management and organizational skills
Detail oriented and ability to multi task under tight timelines
Mizuho Bank Ltd. offers a competitive total rewards package.
We are an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.
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