Senior Standby Letter of Credit Specialist

US Bank • Los Angeles, CA

50d

About The Position

Responsible for providing consultation and guidance regarding standby letter of credit services provided by GTSS to GTSS staff, clients and business partners in addition to performing a variety of duties relating to the processing of transactions necessary to support the banks standby letter of credit portfolio in accordance with applicable regulations, policies and procedures. Services include issuing, amending, advising, confirming and releasing standby letters of credit accordance with organizational policies and guidelines.

Requirements

• Bachelor's degree, or equivalent work experience
• Six or more years of related experience

Nice To Haves

• In-Depth knowledge of complex Standby Letters of Credit
• Thorough knowledge of policies, plans, procedures, products and regulatory requirements for assigned business unit
• Ability to conduct an analysis of a business need, including scheduling meetings, planning agendas and conferring with business line leaders
• Strong understanding of project management and testing methodology and procedures
• Ability to develop test schedules, review testing plans, track test issues and report on test results
• Strong analytical and forecasting skills
• Ability to manage multiple tasks/projects and deadlines simultaneously
• Ability to work as part of a project team

Responsibilities

• Structure Standby Letter of Credit terms and text to meet the needs of specific client transactions.
• Capable of drafting the more complex Standby Letters of Credit including Syndicated Letters of Credit, Direct-Pay Letters of Credit supporting Industrial Revenue Bonds, Counter and Counter-Counter Standby Letters or Credit. Ensures needed regulatory compliance and credit approvals are obtained prior to issuing and/or releasing Standby LCs.
• Examines documents for payment under Standby Letters of Credit for compliance with Letter of Credit terms.
• Works closely with Relationship Managers, clients, beneficiaries, internal and external Counsel as needed to structure and finalize complex Standby Letters of Credit
• Advises management on developments that impact the department

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Number of Employees: 5,001-10,000 employees