Letter of Credit Servicing

About the Role

Join a Tier 1 Investment Bank’s fast-paced Letters of Credit servicing function. You will manage the full lifecycle of transactions, communicate with multiple internal and external teams, and ensure risks related to the product are appropriately controlled. The role involves handling complex queries related to standby letters of credit from both internal stakeholders and external clients, as well as contributing to strategic initiatives aimed at enhancing the product offering and supporting platforms.

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.

Requirements

• Bachelor’s degree with at least 1 year 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.

Preferred Qualifications

• Prior experience in loan servicing or operations.
• Familiarity with URDG 758.

Schedule

This role requires 5 days per week in the office, as mandated by the client.