Job Description
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 Credit 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.
Key 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