Standby Letter of Credit Operations Specialist

The Goldman Sachs Group

New York (NY)

On-site

USD 80,000 - 135,000

Full time

14 days+

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Job summary

Goldman Sachs seeks a standby letter of credit professional within Investment Banking Operations in New York, NY to manage LC transactions, review agreements, drafts and communications with banks and clients, and support process improvements. You will partner with multiple desks and legal counsels to ensure accuracy and risk controls across high-value deals.

Ideal candidates have a Bachelor's degree with 3+ years in financial services, knowledge of ISP98/UCP 600 and URDG 758, and strong

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