Trade Service Specialist

Erwin Espiritu

***-** **** ****, ***. *** 917-***-****

Forest Hills, NY 11375 *************@*****.***

Objective

A position in the Financial Services industry, with a focus on Operational Management, Team

Leadership and Process Improvements.

Profile

14 years of international banking with Valley National Bank / Sterling National Bank

Committed team player with proven ability to meet expectations and deadlines

Detail-oriented with exemplary organization and project management skills

Successful in fostering and maintaining key relationships; increasing customer loyalty

Deliver clients custom tailored services of trade finance needs

Professional Experience

2005 to Present Senior Trade Service Specialist; Sterling National Bank, New York, NY

Commercial Letters of Credit: Issued, amended, and managed all correspondence between applicant and beneficiary's bank. Worked directly with client's relationship manager to obtain necessary credit approval. Reviewed accuracy of all accounting entries. Initiated payments between issuing bank and beneficiary's bank.

Standby Letters of Credit: Maintained entire Standby L/C portfolio. Accountable for receiving applications, properly executing reimbursement agreements and communicating with lending officers to provide extension of credit. Maintained monthly report ensuring proper renewal for following year. Created all amendments, amount increase/decrease, extension of dates, and closing of L/Cs

Import Documentary Collections: Responsible for processing documentary collections. Entered collection into the GTS Collection system. Reviewed collection for conformity with OFAC and Anti-Boycott Regulations. Contacted importer to determine disposition of documents, payments and obtained agreement of future payment for collections with time drafts. Responsible for securing funds and sending payment instructions via SWIFT to the beneficiary's bank.

Steamship Guarantees / Air Releases: Review accuracy of Airway/Steamship applications, verify transport document consigned accordingly. Determine if any OFAC violations have been identified. Obtain the necessary credit approvals and determined if cash collateral is required.

1998 to 2004 Import/Export Letter of Credit Analyst; Valley National Bank, New York, NY

Reviewed all import and export letters of credit thoroughly in compliance with UPC 500

Inspected all shipping documents for discrepancies against the letter of credit. Confirmed all requirements were strictly met

Primary contact maintaining communication between the importer and the beneficiary

Ensured payment upon delivery of documents

Managed negotiation process including tracking of pending payment and receipt of proceeds

Maintained funds received to confirm all bank charges were accounted for prior to the credit of beneficiary’s account

Education

1988 to 1990 New York Institute of Technology, New York, NY

Continuing Education AIB International Banking and Letter of Credit Courses

Skills

SWIFT, Cibar Global Trade Services, Cibar Internet Customer Connection, Microsoft WORD,

Excel, Outlook.

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