Global Banking & Markets Operations - Letters of Credit - Analyst , Dallas
About The Position
At Goldman Sachs, we connect people, capital and ideas to help solve problems for our clients. We are a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. For us, it’s all about bringing together people who are curious, collaborative and have the drive to make things possible for our clients and communities. OUR IMPACT Investment Banking Operations is a dynamic, multi-faceted business that partners with all parts of the firm to facilitate banking & financing capabilities to clients around the world. In addition, IB Operations provide essential risk management and control to preserve and enhance the firm’s assets and its reputation. IB Agency is responsible for ensuring efficient and accurate transaction processing across a broad range of products. Generally, the products supported are complex instruments that require close alignment with the business. IB Agency is at the forefront of shaping and driving change in the industry with the ultimate aim of delivering greater accuracy, control and efficiency for our clients and our business. The Letters of Credit servicing team within Investment Banking Agency is responsible for the trade finance functions as Standby Letter of Credit Issuer. YOUR IMPACT The Letters of Credit (“LC”) servicing team is seeking a standby letters of credit professional who can effectively collaborate with multiple business desks, internal and external legal counsels, as well as applicants and beneficiaries to manage all stages of the transaction, and to mitigate risks associated with the letter of credit product offering. This position requires the ability to handle complex inquiries regarding standby letters of credit from our external clients and internal business partners. Additionally, the individual we are seeking will assist in strategic projects to enhance the product and platform.
Requirements
- Bachelor's degree with 1-2 years of experience in loan operations preferred
- Ability to work in a fast paced environment with competing priorities
- Excellent communication and client service skills
- Strong organizational and analytical skills with a keen attention to detail
- Proficiency using the Microsoft Office Suite in particular Excel and PowerPoint
Nice To Haves
- Experience in loan servicing or operations
- Knowledge of ISP98/UCP 600
Responsibilities
- Review Credit Agreements and other deal documents to assist with the structuring of our obligation as issuing bank
- Prepare Letter of Credit drafts before they are shared with clients – this is for new issuance as well as for amendments.
- Prepare counter-Standby Letter of Credit drafts before they are shared with correspondent Banks.
- Respond to communications with Correspondent Banks.
- Manage communications with the different desks during the process of reviewing Letters of Credit.
- Review Reg W and Reg O Checks , OFAC checks are performed by Processor prior to LC Issuance
- Suggest process improvements and work with other teams to bring in efficiency to day to day process
Benefits
- Benefits Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Number of Employees
5,001-10,000 employees
