Paul Garcia

Letter of Credit Specialist:

• Ensured compliance with OFAC, AML and other interdiction related laws and regulations, the letter of credit terms and conditions, established letters of credit customs and practice, Florida Statutes 673, 674, 675, et al., Uniform Customs and Practice for Documentary Credits (“UCP”), International Standby Practices (“ISP98”), International Standard Banking Practice (“ISBP”).
• Assisted customers and Relationship Managers create the details for the content of the letter of credit and assist in the completion of the Letter of Credit applications.
• Drafted text for issuance/amendment of documentary Letters of Credit and input into bank’s trade finance software, Jack Henry, and other bank software applications.
• Examined documents to review for compliance with the Letter of Credit rules.
• Processed honor of documents via payment or acceptance.
• Processed amendments, transfers under a Letter of Credit, assignment of proceeds, acceptances, and letters of indemnity.
• Responsible for billing of fees and commissions for letters of credit.
• Interfaced with Clients, Relationship Managers, internal departments, and external areas, like SWIFT, DataPro, and Fedlink Anywhere.
• Depending on each task allocated, the process covers the carrying out of all documentary business processes in accordance with the rules. (US and Florida laws. FS 675 et al. Letters of Credit may be subject to the Uniform Custom and Practices for Documentary Credits or International Standby Practices).

SWIFT operative:

• Created and send SWIFT messages related to all international operations products.

Collections (bank-to-bank processing of financial and commercial documents for acceptance and or payment):

• Ensured compliance with OFAC, AML and other interdiction related laws and regulations, Florida Statutes 674, et al., Uniform Rules for Collections (ICC 522)
• Assisted customers and Relationship Managers process incoming and outgoing documents (such as Commercial Invoice, Bill of Lading, Certificate of Origin, Insurance Certificate, Certificate of Analysis, Certificate of Quality, Customs Invoice, etc.). and clean collections.
• Input collections into the bank’s trade finance application
• Reviewed documents for congruency with collections instructions and send documentation to the remitting bank.
• Traced outstanding collections.
• Processed payments and acceptance.
• Responsible for billing of fees and commissions for Collections.
• Interfaced with Clients, Relationship Managers, and other departments

AML for trade finance documents

• Comply with OFAC, AML, BSA and other applicable US laws, rules, and regulations.
• Perform careful review of all documents to make certain that the names on the documents are checked using “OFAC” software, and that no AML Red Flags appear.

Foreign Exchange Operative

• Reviewed foreign currency-denominated requests for completeness and OFAC, and the input of data by the front line into Fedlink Anywhere for accuracy.
• Obtained the rate of exchange from PCBB when the Foreign Currency wire is over USD100,000. - US equivalent.
• All transactions also include hold funds as necessary to make payments; input and process transactions to record debits and credit to JHA customers’ accounts, general ledger accounts.