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Investment Banking Operations is a dynamic, multi-faceted business that partners with all parts of the firm to facilitate banking & financing capabilities to clients around the world. In addition, IB Operations provide essential risk management and control to preserve and enhance the firm’s assets and its reputation. IB Agency is responsible for ensuring efficient and accurate transaction processing across a broad range of products. Generally, the products supported are complex instruments that require close alignment with the business. IB Agency is at the forefront of shaping and driving change in the industry with the ultimate aim of delivering greater accuracy, control and efficiency for our clients and our business. The Letters of Credit servicing team within IB Agency is responsible for the trade finance functions as Standby Letter of Credit Issuer. The Letters of Credit servicing team is seeking a standby letter of credit professional who can effectively collaborate with multiple business desks, internal and external legal counsels, as well as applicants and beneficiaries to manage all stages of the transaction, and to mitigate risks associated with the letter of credit product offering. This position requires the ability to handle complex inquiries regarding standby letters of credit from our external clients and internal business partners. Additionally, the individual we are seeking will assist in strategic projects to enhance the product and platform.
Responsibilities
Review Credit Agreements and other deal documents to assist with the structuring of our obligation as issuing bank
Review Letter of Credit drafts before they are shared with clients.
Review counter-Standby Letter of Credit drafts before they are shared with correspondent Banks.
Review communications with Correspondent Banks.
Manage communications with the different desks during the process of reviewing Letters of Credit.
Review daily reports to ensure appropriate action has been taken if applicable.
Review Letter of Credit Issuances processed by the Team.
Review Reg W and Reg O Checks , OFAC checks are performed by Processor prior to LC Issuance
Suggest process improvements.
Leverage your knowledge and expertise as a subject matter expert in all aspects of the business and to help train other colleagues, as needed
Requirements
Bachelor's degree with financial services experience of more than 3 years
In-depth knowledge of ISP98/UCP 600
Ability to work in a fast paced environment with competing priorities
Excellent communication and client service skills
Strong organizational and analytical skills with a keen attention to detail
Proficiency using the Microsoft Office Suite in particular Excel and PowerPoint
