Letter of Credit Servicing
About The Position
We have an exciting opportunity to work with one of our prestigious clients at a Tier 1 Investment Bank. You will be working as part of their fast-paced Letters of Credits servicing function, communicating with multiple teams internally and externally to manage the full lifecycle of transactions while ensuring risks related to the product are appropriately controlled. This role requires handling complex queries related to standby letters of credit from both internal stakeholders and external clients. The successful candidate will also contribute to strategic initiatives aimed at enhancing the product offering and supporting platforms.
Requirements
- Bachelor’s degree with at least 3 years of experience in financial services
- Strong working knowledge of ISP98 and UCP 600 frameworks
- Ability to operate in a fast-paced environment with multiple competing priorities
- Excellent communication skills and a strong client service orientation
- High level of attention to detail with strong analytical and organizational capabilities
- Proficiency in Microsoft Office applications, particularly Excel and PowerPoint
- A valid work authorization for the US is mandatory.
Nice To Haves
- Prior experience in loan servicing or operations
- Familiarity with URDG 758
Responsibilities
- Analyze credit agreements and transaction documentation to support the structuring of the bank’s obligations as the issuing institution
- Review draft Letters of Credit prior to being issued to clients
- Review counter-standby Letter of Credit drafts before releasing them to correspondent banks
- Assess communications with correspondent banks to ensure accuracy and consistency
- Coordinate and manage interactions across various internal desks throughout the Letter of Credit review process
- Monitor daily reports and ensure that required actions are completed where necessary
- Conduct quality checks on Letters of Credit issued by the team
- Ensure appropriate regulatory checks are completed prior to issuance, including Reg W, Reg O, and OFAC requirements
- Identify opportunities to improve processes and enhance operational efficiency
- Act as a subject matter expert, providing guidance and training to team members when required
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
