Standby Letter of Credit Operations Associate

Goldman Sachs Bank AG; New York (NY); On-site; USD 80,000 - 135,000; Full time

Benefits offered by this job

Healthcare

Vacation

Financial Wellness

Job summary

Goldman Sachs in New York seeks a standby letter of credit professional to manage LC transactions, collaborate with multiple desks, and mitigate risks. You will engage with applicants, beneficiaries, and external counsel, while supporting strategic projects to enhance products and platforms.

You will review agreements, LC drafts, and communications, ensuring accuracy and compliance, and contribute to process improvements and SME training as needed.

Qualifications

• 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.

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

Education

Bachelor's degree with financial services experience

Tools

Microsoft Excel

PowerPoint

Job description

Goldman Sachs in New York seeks a standby letter of credit professional to manage LC transactions, collaborate with multiple desks, and mitigate risks. You will engage with applicants, beneficiaries, and external counsel, while supporting strategic projects to enhance products and platforms.

You will review agreements, LC drafts, and communications, ensuring accuracy and compliance, and contribute to process improvements and SME training as needed.