Senior Standby & International Letter of Credit Specialist

FitzGerald Financial Group - Division of TowneBank Mortgage•Suffolk, VA

5d•$66,500 - $85,000•Onsite

About The Position

Serves as the primary administrator and subject matter expert for the Bank's Standby and International Letter of Credit portfolio. Responsible for coordinating the documentation, issuance, amendment, renewal, and ongoing administration of all Letter of Credit transactions. Serves as the liaison between lending teams, US Bank, and internal Loan Servicing departments to ensure transactions are processed accurately, remain compliant with Bank policy and regulatory requirements, and are monitored throughout their lifecycle.

Requirements

Advanced understanding of Standby Letters of Credit (SBLCs) and Commercial/International Letters of Credit.
Comprehensive knowledge of Uniform Customs and Practice for Documentary Credits (UCP 600), International Standby Practices (ISP98), and applicable banking regulations.
Strong understanding of credit facilities, collateral documentation, and loan operations processes.
Knowledge of OFAC, BSA/AML, sanctions screening, and international trade compliance requirements.
Ability to review and interpret complex letters of credit language and supporting documentation.
Expertise in commercial loan documentation, booking, amending, renewing, and closing standby and international letters of credit.
Strong knowledge of bank core systems and operational workflows.
Ability to identify documentation deficiencies, operational risks, and compliance exceptions.
Experience coordinating multiple transactions simultaneously while meeting critical deadlines.
Strong ability to serve as the primary liaison between lenders, credit administration, operations, legal counsel, and correspondent banks.
Exceptional communication and relationship management skills.
Ability to influence and collaborate across multiple departments to ensure timely execution of transactions.
Demonstrated ability to lead process improvements and establish operational best practices.
Strong analytical and problem-solving abilities.
Ability to assess operational, documentation, regulatory, and reputational risks.
Proven attention to detail and commitment to accuracy.
Ability to analyze complex transactions and recommend appropriate solutions.
Strategic Thinking
Process Improvement
Accountability
Attention to Detail
Time Management
Collaboration and Teamwork
Written and Verbal Communication
Organization and Prioritization

Nice To Haves

5+ years of commercial banking experience with direct exposure to International or Standby Letters of Credit and Commercial Loan Documentation
Experience working with correspondent banking relationships and international trade transactions preferred.
Extensive knowledge of the Bank’s core operating system and loan serving platforms (FIS IBS, and BKR HLL UN/FY)

Responsibilities

Administer and manage the Bank's International Letter of Credit portfolio from issuance through termination.
Coordinate with lenders, Senior Credit Administrators, U.S. Bank Representative, and internal partners to facilitate the issuance of new International Letters of Credit.
Monitor upcoming maturities and proactively coordinate renewals with lending teams.
Notify lending teams in advance of maturity dates to facilitate timely renewal decisions and avoid lapses in coverage.
Prepare and coordinate amendments, renewals, reductions, cancellations, and other servicing activities as required.
Reconcile internal International Letter of Credit records with correspondent bank reports and resolve outstanding discrepancies.
Coordinate fee collection activities and work closely with the bank's accounting department to ensure accurate billing and reporting.
Facilitate the closing and cancellation of International Letters of Credit within both internal systems and correspondent bank platforms.
Maintain, update, and enhance departmental procedures, checklists, and operational controls related to International Letters of Credit.
Serve as a subject matter expert and primary point of contact for International Letter of Credit operations.
Manage the Bank's Standby Letter of Credit portfolio throughout the life cycle of each instrument.
Proactively monitor upcoming renewals, amendments, expirations, and cancellations to ensure timely servicing and minimize operational risk.
Review and approve non-standard forms, templates, and beneficiary-drafted letter of credit language prior to issuance.
Track automatic renewal provisions and ensure appropriate lender approvals are obtained.
Monitor and collect applicable fees associated with auto-renewing and amended letters of credit.
Ensure review and maturity dates are accurately updated within the Bank's systems.
Maintain accurate portfolio records, reports, and tracking systems.
Ensure compliance with internal policies, procedures, and applicable regulatory requirements.
Support audits, examinations, and internal reviews related to Letter of Credit activities.
Develop reporting metrics and portfolio monitoring tools to enhance oversight and operational effectiveness.
Provide guidance and training to internal stakeholders regarding Letter of Credit processes and requirements.
Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification.