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Standby Letter Of Credit Jobs in Rutherford, NJ (NOW HIRING)

Kellton Tech

Senior Credit Specialist

Jersey City, NJ · On-site

Transaction processing of all Standby letter of credit, Guarantee and Documentary letter of credit trade finance products offered by Client within the operational model in place at any given time:

BCforward

Sr Treasury Analyst

Morristown, NJ

$35/hr

At least 2 years of standby letter of credit experience with bank operations or with a corporation that is a frequent issuer of standby letters or credit. Solid understanding of standby letters of ...

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How much do standby letter of credit jobs pay per hour?

As of Aug 19, 2026, the average hourly pay for standby letter of credit in Rutherford, NJ is $20.72, according to ZipRecruiter salary data. Most workers in this role earn between $16.68 and $21.83 per hour, depending on experience, location, and employer.

What is a standby letter of credit?

A Standby Letter of Credit (SBLC) is a guarantee issued by a bank on behalf of a client, ensuring payment to a beneficiary if the client fails to fulfill contractual obligations. It is commonly used in international trade and large business transactions as a safeguard against non-payment or non-performance. The SBLC acts as a safety net, providing financial security for both parties involved in the deal. Banks typically require collateral and charge fees for issuing an SBLC.

What skills and qualifications are needed to work with standby letters of credit?

To thrive as a Standby Letter of Credit Specialist, you need a solid understanding of international trade finance, banking regulations, and documentary credit operations, typically supported by a degree in finance or business. Familiarity with SWIFT messaging systems, UCP 600/ISP98 rules, and trade finance software platforms is essential. Attention to detail, strong analytical thinking, and effective communication skills are crucial soft skills for this role. These competencies ensure accurate processing, risk mitigation, and smooth client interactions in complex financial transactions.

What challenges do professionals handling standby letters of credit face?

Professionals managing Standby Letters of Credit often encounter challenges related to strict compliance requirements and tight deadlines, as SBLCs are time-sensitive financial instruments. Ensuring accurate documentation and close coordination with legal, risk, and operations teams is crucial to avoid discrepancies that could lead to rejection or delays. Additionally, staying updated with changing international trade regulations and anti-money laundering standards is essential. Effective communication with clients and correspondent banks is also key to resolving issues promptly and maintaining smooth transactions.

What is the difference between Standby Letter Of Credit vs Bank Guarantee?

AspectStandby Letter Of CreditBank Guarantee
PurposeProvides financial assurance for contractual obligationsGuarantees repayment or performance to a third party
IssuerBank or financial institutionBank or financial institution
UsageCommon in international trade and project financeUsed for contract performance and payment guarantees
NatureContingent liability, payable upon defaultLiability of the bank to pay if conditions are met

Both Standby Letters of Credit and Bank Guarantees are financial instruments issued by banks to secure obligations. While they serve similar purposes, a Standby Letter of Credit is often used as a backup payment method in international trade, whereas a Bank Guarantee typically ensures contractual performance or payment. Understanding their differences helps businesses choose the right instrument for their needs.

How does a standby letter of credit work?

A standby letter of credit is a financial document issued by a bank on behalf of a client, guaranteeing payment to a beneficiary if the client fails to fulfill contractual obligations. It functions as a safety net, ensuring the beneficiary receives payment upon presenting specified documents that prove default. The process involves the applicant requesting the bank to issue the letter, which is then used in transactions requiring assurance of payment or performance.

Who can issue a standby letter of credit?

A standby letter of credit is typically issued by a bank or financial institution that is approved and authorized to provide such guarantees. The issuer must have a strong credit rating and sufficient financial stability to back the commitment. Issuance often requires the applicant to meet specific credit and documentation requirements, and the process may involve compliance with banking regulations and standards.

What are popular job titles related to Standby Letter Of Credit jobs in Rutherford, NJ?

For Standby Letter Of Credit jobs in Rutherford, NJ, the most frequently searched job titles are:

What cities near Rutherford, NJ are hiring for Standby Letter Of Credit jobs?

Cities near Rutherford, NJ with the most Standby Letter Of Credit job openings:

Standby Letter Of Credit jobs near you
Infographic showing various Standby Letter Of Credit job openings in Rutherford, NJ as of August 2026, with employment types broken down into 84% Full Time, 15% Part Time, and 1% Contract. Highlights an 93% Physical, 2% Hybrid, and 5% Remote job distribution, with an average salary of $43,101 per year, or $20.7 per hour.

Senior Credit Specialist

Kellton Tech

Jersey City, NJ • On-site

Contractor

Re-posted 27 days ago

Job description

Job Title : Credit Specialist
Job Location : Jersey City, NJ
 

Job Description :
Responsibilities:

  • Transaction processing of all Standby letter of credit, Guarantee and Documentary letter of credit trade finance products offered by Client within the operational model in place at any given time:
    • Issuance and maintenance of standby letters of credit
    • Advising/Confirming and maintenance of standby letters of credit
    • Examination of default drawing and direct pay presentations (includes first or second examination function)
    • Processing of written correspondence and verbal communications with internal and external customers associated with the resolution of technical letter of credit construction subject matter and other associated extraordinary processes
    • Calculating and tracking fees and commissions
    • Issuance and maintenance of Documentary Letters of credit
  • Drafting (redlining) technical terms and conditions language to ensure proper construction of standby letters of credit, guarantees and documentary letters of credit.
  • Reviewing transactions for regulatory compliance and anti-boycott violations.
  • Interacting with various parties of letter of credit transactions to resolve disputes, issuance construction, provide first and second level technical guidance, etc.
  • Perform various administration functions related to the maintenance of letter of credit files.
  • Resolution in a timely manner of inquiries received from internal and external clients. Includes escalating any potential problems or seeking clarification as appropriate.
  • Ensure that all transactions are completed within the set timeframes/deadlines established by TFO management.
  • Stay current on Trade Finance Guidelines and Regulatory/Legal requirements by reference to related publications if available, active participation in designated in house or external training, and on the job training.
  • Perform Ad-Hoc tasks as directed by Team Leader / Management


Minimum required qualifications:

  • Standby Letter of credit technical Letter of Credit experience (5-7 years) knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP98), and familiarity with Uniform Commercial Code Article 5
  • Working knowledge of AML, OFAC and U.S. Anti-boycott regulations
  • Microsoft Office Suite
  • Familiarity with bank accounting related to trade finance products


Preferred Qualifications

  • Standby and Documentary Letter of credit technical experience (10 years plus) superior knowledge of Uniform Customs and Practices for Documentary Credits (UCP 600), International Standby Practices (ISP98), and familiarity with Uniform Commercial Code Article 5
  • Exposure to an automated letter of credit processing environment
  • Good understanding of AML and OFAC Compliance regulations
  • Good understanding of Letter of credit contingent and fee accounting
  • Microsoft Office Suite
  • Good written and oral communications skills
  • Good understanding of drafting technical letter of credit terms and conditions for both standby/documentary credits.