Global Banking & Markets Operations - Loan Management, Letters of Credit, Associate, Dallas/New York

About the position

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

Nice-to-haves

  • Experience in loan servicing or operations
  • Knowledge of URDG 758

Benefits

  • Discretionary bonus
  • Training and development opportunities
  • Firmwide networks
  • Wellness offerings
  • Personal finance offerings
  • Mindfulness programs
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Common Interview Questions And Answers

1. HOW DO YOU PLAN YOUR DAY?

This is what this question poses: When do you focus and start working seriously? What are the hours you work optimally? Are you a night owl? A morning bird? Remote teams can be made up of people working on different shifts and around the world, so you won't necessarily be stuck in the 9-5 schedule if it's not for you...

2. HOW DO YOU USE THE DIFFERENT COMMUNICATION TOOLS IN DIFFERENT SITUATIONS?

When you're working on a remote team, there's no way to chat in the hallway between meetings or catch up on the latest project during an office carpool. Therefore, virtual communication will be absolutely essential to get your work done...

3. WHAT IS "WORKING REMOTE" REALLY FOR YOU?

Many people want to work remotely because of the flexibility it allows. You can work anywhere and at any time of the day...

4. WHAT DO YOU NEED IN YOUR PHYSICAL WORKSPACE TO SUCCEED IN YOUR WORK?

With this question, companies are looking to see what equipment they may need to provide you with and to verify how aware you are of what remote working could mean for you physically and logistically...

5. HOW DO YOU PROCESS INFORMATION?

Several years ago, I was working in a team to plan a big event. My supervisor made us all work as a team before the big day. One of our activities has been to find out how each of us processes information...

6. HOW DO YOU MANAGE THE CALENDAR AND THE PROGRAM? WHICH APPLICATIONS / SYSTEM DO YOU USE?

Or you may receive even more specific questions, such as: What's on your calendar? Do you plan blocks of time to do certain types of work? Do you have an open calendar that everyone can see?...

7. HOW DO YOU ORGANIZE FILES, LINKS, AND TABS ON YOUR COMPUTER?

Just like your schedule, how you track files and other information is very important. After all, everything is digital!...

8. HOW TO PRIORITIZE WORK?

The day I watched Marie Forleo's film separating the important from the urgent, my life changed. Not all remote jobs start fast, but most of them are...

9. HOW DO YOU PREPARE FOR A MEETING AND PREPARE A MEETING? WHAT DO YOU SEE HAPPENING DURING THE MEETING?

Just as communication is essential when working remotely, so is organization. Because you won't have those opportunities in the elevator or a casual conversation in the lunchroom, you should take advantage of the little time you have in a video or phone conference...

10. HOW DO YOU USE TECHNOLOGY ON A DAILY BASIS, IN YOUR WORK AND FOR YOUR PLEASURE?

This is a great question because it shows your comfort level with technology, which is very important for a remote worker because you will be working with technology over time...

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