Senior Letter of Credit Specialist

Canadian Imperial Bank of Commerce • Chicago, IL

54d • $80,000 - $100,000

About The Position

We're building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what's right for our clients. At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute. To learn more about CIBC, please visit CIBC.com What You'll Be Doing As a member of the CIBC USA Trade Operations team, you will focus on the needs of our clients and business partners and are passionate about delivering detail oriented centralized Letter of Credit and Loan operational services through our strategic pillars of Client Centricity, Innovation and Process Simplification. As a Sr. Letter of Credit Specialist you will be accountable for handling all details and day to day processing of the Core Suite of Trade Products (Import/Export/Standby Letters of Credit and Incoming/Outgoing Collections) with a primary focus on Standby Letters of Credit; including complex, high risk transactional structuring for clients as well as working with upstream and downstream correspondent bank partners. You will expedite resolution to issues using independent judgement and analytical thinking to conduct in-depth research using multiple systems/reports to determine the nature of the problem, verify work and provide solutions. You will act as a point of contact assisting the Trade Operations Team, providing support to ensure understanding of LC Products to Customers, Lines of Business and the Loan Closers. You will ensure customer satisfaction is maintained, productivity standards are achieved, and Service Level Agreements are met or exceeded.

Requirements

• You can demonstrate knowledge of Loan Presentations, Reimbursement Agreements, Participated/Syndicated deals. FIS Systems and detailed knowledge of ICC Rules governing Trade Transactions are required.
• You're a certified professional. You have current accreditation and good standing Certified Documentary Credit Specialist (CDCS).
• You put our clients first. You engage with the purpose of finding the right solutions/structure. You go the extra mile, because it's the right thing to do.
• You're goal oriented. You're motivated by accomplishing your goals and delivering your best to make a difference.
• You're passionate about people. You find meaning in relationships and surround yourself with a diverse network of partners. You connect with others through respect and authenticity.
• You love to learn. You're passionate about growing your knowledge. You have a keen sense of curiosity.
• Values matter to you. You bring your real self to work, and you live our values - trust, teamwork, and accountability.

Responsibilities

• Handling all details and day to day processing of the Core Suite of Trade Products (Import/Export/Standby Letters of Credit and Incoming/Outgoing Collections) with a primary focus on Standby Letters of Credit
• Complex, high risk transactional structuring for clients as well as working with upstream and downstream correspondent bank partners
• Expedite resolution to issues using independent judgement and analytical thinking to conduct in-depth research using multiple systems/reports to determine the nature of the problem, verify work and provide solutions
• Act as a point of contact assisting the Trade Operations Team, providing support to ensure understanding of LC Products to Customers, Lines of Business and the Loan Closers
• Ensure customer satisfaction is maintained, productivity standards are achieved, and Service Level Agreements are met or exceeded.

Benefits

• CIBC offers a competitive total rewards package.
• This role has an expected salary range of $80,000 - $100,000 for the Chicago, IL market based on experience, qualifications, and location of the position.
• The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which may also include a discretionary bonus component.
• CIBC offers a full range of benefits and programs to meet our employee's needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays and 401(k), in addition to other special perks reserved for our team members.
• banking benefits
• a benefits program
• a vacation offering
• wellbeing support
• MomentMakers, our social, points-based recognition program

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Credit Intermediation and Related Activities
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees