Mohit Monga

• Experience with the Bank of America in Trade Finance product of Documentary Collections, in which we perform the function of document check, payment & acceptances as per URC-522.
• Handle regular SWIFT types for documentary collection like MT410, MT420, MT412, MT400, MT434, MT499, MT202, MT103, and MT999.
• Key Responsibilities: Processing and releasing of payments to Remitting bank on sight/maturity basis, send out MT confirmations to exporter's bank, Checking documents (Cover letter, Draft, Invoices, Bill of lading, Airway Bills and Inspection Certificates) as per URC-522 guidelines, Send MT499 to bank's SWIFT for clarification in case of any discrepancy.
• Checking compliance as per OFAC and the US Department of the Treasury, including sanctions, anti-money laundering, and boycotts.
• Key member of the SME (Subject Matter Expert) team within Trade Operations at Bank of America, leveraging specialized knowledge and experience to ensuring seamless document processing, secure payment handling, SWIFT messaging proficiency, and meticulous adherence to regulatory compliance standards.

Cross-training:

• Proficiently managed various aspects of the LIQ and GSS application, ensuring smooth operations and compliance with regulatory requirements.
• Handled various activities, including Rollover, Rate Setting, Interest Payment, and Drawdown/Principal Payment, in the Syndicate Lending process.
• Received accolades from senior management for outstanding performance in LIQ and loan servicing activities, contributing to the overall success of the department.
• Worked in LC advising process, ensuring timely and accurate dissemination of LC to beneficiaries in accordance with agreed-upon terms and conditions.
• Worked in Open Account trade operations, overseeing end-to-end processes including order processing, documentation, invoicing, and reconciliation.

• Disbursement of Business Banking Products, such as Bank Guarantee, Cash Credit, Letter of Credit, and Buyer's Credit, as per the client's portfolio within the defined TAT.
• Approaching Credit Managers for Tenor and Overriding approvals.
• Maintains daily MIS report and also handles BCPs of other regions on a regular interval as a team member to ensure transparency.