AVP Letters of Credit
: Job Details :

1 day ago Be among the first 25 applicants

Gibel & Associates Inc. provided pay range

This range is provided by Gibel & Associates Inc.. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$125,000.00/yr - $150,000.00/yr

Leading Global European Banking group active in a broad range of financial products including banking, capital markets, asset management, insurance, and private equity seeks a “AVP of Letters of Credit” to be responsible for the Timely and accurate processing of Letters of Credit to include drafts, issuances, amendments, drawings, bank to bank backstops to cover overseas Guarantee issuances, risk participations taken under Letters of Credits including associated changes and fees and billing. The selected candidate will manage the L/C department workflow ensure that timely, accurate records/information and that all relevant controls & procedures are followed.

Position Description:

The AVP of Letters of Credit will have 5 to 10 years “hands on” experience working with Letters of Credit issuances, amendments, drawings, assignments of proceeds & transfers, Risk participations under letters of credits, and Interest and Fees. Proficiency with products, systems and processes related to system input, maintaining files of related documents, and the follow up on pending items is necessary.

Primary Expectations include the following:

• Review customers' L/C requests & texts for consistency, compliance with prelevant rules & regulations

• Draft, review & issue Standby Letters of Credits & amendments

• Process L/C drawings- examine documents for approval to pay; Prepare payment instructions.

• Prepare & enter transactions in Midas for L/C activities: issuances, amendments, cancellations, extensions, fees, CA's.

• Monitor Accounts receivable/payable and L/C Transit accounts.

• Ability to Monitor L/C “Evergreen” report; process/send reminder & non-renewal notices and prepare and send out quarterly fee invoice for issued LCs.

Required Knowledge/Skills

• 5 to 10 years “hands on” experience working with Letters of Credit issuances, amendments, drawings, assignments of proceeds & transfers, Risk participations under letters of credits, and Interest and Fees. Proficiency with products, systems and processes related to system input, maintaining files of related documents, and follow up on pending items is necessary.

• Knowledge of UCP 500, UCP 600, ISP 98, OFAC, & International Standard Banking Practice

• Fusion Midas (or comparable system), knowledge of Actimize (a plus), SWIFT, or Alliance preferred.

• Regulatory and compliance rules & regulations (OFAC, USA Patriot Act, AML, Anti-Boycott, Restrictive Trade Practices, etc.

• Commercial loans/loan participations processing knowledge a plus.

• Ability to multi-task & prioritize in a fast-paced environment, and when working under pressure.

• Perform responsibilities in accordance with BSA/AML guidelines and perform manual OFAC screening for (a) Letters of Credit texts & requests for issuances/amendments, drawings; (b) assist in screening of P&R Items when needed.

• College Degree and ability to demonstrate accuracy & attention to detail, have above average skills in communication, analytical, organizational, math, and people skills and able to relate to people at all levels. Good PC skills (Excel & Word) desired.

This is an excellent opportunity to learn, intern, and grow in a professional working environment and growing global firm. Good communication, organizational and good system skills are necessary.

Excellent Salary, Bonus and Benefits including Pension Plan

Our client, a well-managed global Banking and Finance institution, has a history of rewarding employees with growth, opportunity, and stability. EOE.

Seniority level

• Seniority levelMid-Senior level

Employment type

• Employment typeFull-time

Job function

• Job functionAccounting/Auditing, Finance, and Analyst
• IndustriesCapital Markets, Banking, and Financial Services

Referrals increase your chances of interviewing at Gibel & Associates Inc. by 2x

Inferred from the description for this job

Medical insurance

Pension plan

Disability insurance

Student loan assistance

Vision insurance

Child care support

Paid maternity leave

401(k)

Paid paternity leave

Tuition assistance

Get notified when a new job is posted.

Sign in to set job alerts for “Vice President of Credit” roles.

New York, NY $160,500.00-$191,600.00 2 weeks ago

New York, NY $250,000.00-$285,000.00 2 days ago

New York, NY $250,000.00-$275,000.00 2 weeks ago

New York, NY $190,000.00-$340,000.00 1 week ago

New York, NY $135,000.00-$203,000.00 2 months ago

New York City Metropolitan Area $185,000.00-$240,000.00 3 weeks ago

MSIM PC&E - Private Credit- Senior Associate/ Vice PresidentAVP, Credit Portfolio Analytics and Strategy

New York City Metropolitan Area $90,000.00-$120,000.00 1 week ago

Investor Relations - Credit, VP/Principal

New York City Metropolitan Area $200,000.00-$300,000.00 19 hours ago

Investment Banking Vice President (or Senior Associate) Restructuring

New York, NY $225,000.00-$275,000.00 12 hours ago

New York City Metropolitan Area $150,000.00-$190,000.00 2 weeks ago

Vice President, Structured & Asset Backed Credit

New York, NY $150,000.00-$265,000.00 2 weeks ago

SVP, Credit Reserve and Basel Advanced Approaches Oversight (Hybrid)

New York, NY $163,600.00-$245,400.00 5 days ago

New York, NY $150,000.00-$200,000.00 3 months ago

Vice President, Consumer Products and Processing

Purchase, NY $223,000.00-$357,000.00 1 week ago

New York, NY $180,000.00-$275,000.00 6 days ago

Vice President, Enterprise Non-Financial Risk Program Strategy Lead

New York, NY $120,000.00-$205,000.00 1 week ago

Citi Wealth Lending – Business Strategy Vice President / Senior Vice President

New York, NY $176,720.00-$265,080.00 6 days ago

New York, NY $180,000.00-$225,000.00 1 week ago

Senior Vice President, Asset Managers & Insurance Lending

New York, NY $102,000.00-$190,000.00 6 days ago

New York, NY $120,000.00-$205,000.00 3 months ago

Vice President, Valuations - Alternative Credit

New York, NY $178,000.00-$280,000.00 4 days ago

Senior Vice President, Asset Managers & Insurance Lending

New York, NY $102,000.00-$190,000.00 58 minutes ago

Vice President - Credit Underwriting and Portfolio Management, Diversified Industrials

New York, NY $170,000.00-$190,000.00 1 month ago

New York City Metropolitan Area $155,000.00-$195,000.00 1 month ago

New York, NY $122,000.00-$164,000.00 1 month ago

New York, NY $120,000.00-$200,000.00 1 week ago

We're unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.

#J-18808-Ljbffr