Letter of Credit AVP
Salary Dental +Vision+Heath
Location New York
Consultant Lindsey Squillante
Date posted June 11, 20187 Times Square New York NY 10036 Robert Walters United States of America
AVP role with a prestigious investment bank.
Overall Purpose of role
The Letter of Credit (“LC”) specialist will have responsibility and ownership for proactively managing a portfolio of domestic and international Letter of Credit and guarantee product cases from submission to issuance. This specialist will act as the direct liaison between the clients, US LC Team, UK LC Team and correspondent banks on complex foreign exchange Standby LC’s / bank guarantees issued by the clients of Bank Debt Management. The role requires tact and sensitivity to handle conflict, objections and resistance whilst retaining the requirement to ensure the Bank’s risk position is acceptable.
Your Role (Key Accountabilities)
- Manage all complex LC related referrals from colleagues, stakeholders and clients, making decisions on complex transactions where needed.
- Ability to review legal loan documentation and ensure it meets operational Standby LC requirements for agented and participation transactions.
- Ensure Facility Letter documentation and necessary security documentation is completed in a timely manner and drawdown/issuance is achieved within client’s expected timescales.
- Ensure that the Bank’s KYC and Sanctions policies are strictly adhered to.
- Review / Prepare LC Applications with the client for submission to LC department for processing.
- Review / Negotiate LC Language with the client, taking into consideration the terms of the applicable credit agreement.
- Interact with the client, deal teams and LC teams from start to close to final execution of product.
- Communicate the invoicing of LC Fees to client / escalation to Leveraged Finance /Portfolio if fee discrepancy exists.
- Bachelor’s Degree
- 5+ years LC experience including a strong knowledge of the Letter of Credit product, particularly bank guarantees, and ability to review loan documentation
- 3+ years of experience in loan operations
- 3+ years of banking/finance industry experience