Letter of Credit Officer obtains necessary information to process and complete letters of credit and related financial transactions. Verifies all documentation for accuracy and completeness. Being a Letter of Credit Officer ensures all credit data is evaluated and adheres to bank policies and procedures in order to approve or deny applications. Provides support to lending officers and trade specialists. Additionally, Letter of Credit Officer may require a bachelor's degree. Typically reports to a manager or head of a unit/department. The Letter of Credit Officer gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. To be a Letter of Credit Officer typically requires 2 to 4 years of related experience. (Copyright 2024 Salary.com)
Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description:
The AB Sr. Portfolio Specialist is responsible for actively monitoring financial and collateral trends and recommending appropriate action.
Job Responsibilities
Responsibilities also include reviewing requests for loan modifications, analyzing financial performance, negotiating terms, drafting proposals, reviewing documents, and preparing recommendations for approval.
The AB Sr. Portfolio Specialist is an active member of the client team and interfaces directly with the client and participates in building the client relationship. Generally capable of handling the most sensitive accounts.
Skills:
Attention to Detail
Client Management
Decision Making
Underwriting
Credit Documentation Requirements
Critical Thinking
Portfolio Management
Problem Solving
Written Communications
Financial Analysis
Negotiation
5 years’ experience in asset-based lending, cash flow lending, and/or relationship management
Sound understanding of commercial credit, transaction structuring, and financial and collateral analysis
Detailed understanding of legal documentation
Proactive and confident communication skills (both verbal and written) to interact with senior management, clients, attorneys, and financial sponsors
Ability to thrive in a fast-paced business environment with strong time management skills
Minimum Education Requirement: Bachelor's or Master’s degree
Shift:
1st shift (United States of America)Hours Per Week:
40