Letter of Credit Officer jobs in Michigan

JOB DESCRIPTION

STANDBY Letter of Credit Operations Specialist I

The STANDBY Letter of Credit Operations Specialist I is responsible for supporting all functional activities in the creation, maintenance, review, examination, and payment of Standby Letters of Credit; and any related documents presented under these instruments. This role will support the domestic and international commercial lending product offerings within all designated commercial, retail, and wealth business lines; including by not limited to participated and syndicated loans.

Position Competencies

Successful incumbents possess proven ability to work independently, drive for results, effective, team player, interpersonal savvy, political savvy, conflict resolution, customer focus, effectively deal with ambiguity, decision quality, effective time management and organization skills, and comfort around higher management.

Position Responsibilities:

Execute and drive operational excellence

Perform services activities to achieve established operation, executive and client target metrics that include:

• Issue, advise, and amend Standby Letters of Credit.
• Examine Standby Letters of Credit documents presented for payment in accordance with global/standard banking rules of practice and law to determine payment or refusal.
• Process payments for Standby Letters of Credit.
• Support all activities relative to Standby Letter of Credit fees: setup, processing, reconcilement, and research to ensure compliance with accounting and financial policies.
• Verify and release transactions in accordance with department procedure and within limited approved authority.
• Support activities relative to work item statuses, document safekeeping, imaging, and update and clear status notes.
• Image incoming documents and create work item in the Letter of Credit system.
• Complete work assignments within established service level standards for timeliness and quality.

Enhance the Experience

• Maintain and continually Improve business partner service and customer experience satisfaction for services delivered.
• Answer clearly and concisely all email and phone inquiries within established service levels.
• Meet with key clients and customers when assistance is requested.

Risk Management

• Ensure compliance with all respective regulatory requirements and guidelines.
• Ensure all activities are completed according to established policy and procedures.
• Ensure adherence to all customer authentication and release of sensitive information policies and procedures in hybrid/remote working environment.

Position Qualification

• Degree in Business, Finance or International Studies, or 4 Years of Commercial Lending, International Finance, Letters of Credit or Commercial Trade Operations experience
• 2 years of experience with Commercial Lending knowledge including lending documentation
• 2 years of experience commercial trade or commercial lending systems
• 2 years of experience with accounting and balancing
• 2 years of experience customer service and resolution handling
• 2 years of experience utilizing Microsoft Office products