We are seeking a Letter of Credit AVP that will join our team to manage the Letter of Credit process for the Servicing Operations Team. A Letter of Credit AVP plays a critical role in Loan Operations by ensuring the accuracy and compliance of letters of credit (LCs) issued by banks. This position involves meticulous attention to detail, thorough knowledge of Letters of Credit and regulations, and excellent communication skills. Reporting to VP of Servicing Operations within the group, the role offers the opportunity to independently
direct and manage this critical function within a supportive and dynamic team environment. The successful candidate will have the chance to contribute to the ongoing success and growth of our organization.
RESPONSIBILITIES
- .Oversee and manage the Letter of Credit wing to wing process.
- Ensure timely and accurate processing related to issuing, entering, and reconciling balances, amending
- Letters of Credits, including drawdowns, extensions, fee payments and investigations.
- Risk Assessment: Identify and assess potential risks associated with LCs and recommend solutions to mitigate these risks.
- Coordination with Banks: Liaise with issuing and advising banks to resolve any discrepancies or issues
- found in LCs. Communicate effectively with banking partners to ensure smooth processing.
- Client Communication: Maintain regular contact with clients to provide updates on LC status, address concerns, and offer guidance throughout the LC process.
- Professionally interact with Credit Team and outside parties, responding to questions and engaging in independent problem solving as necessary.
- Record Keeping: Maintain meticulous records of all LC transactions, including documents reviewed, communications with banks and clients, and any issues encountered.
- Responsible for booking and managing the Letter of Credit balances in the subledger, including amendments, modifications, and related activity, with strong attention to detail.
- Reconciling internal LC reports with issuing bank reports on a weekly basis to ensure accuracy and alignment.
- Training and Development: Provide training to junior staff members on LC processes and compliance requirements.
- Assist with other operational activities as directed by VP of Servicing Operations.
QUALIFICATIONS
- Education: Bachelor’s degree in finance, Business Administration, or related field.
- Experience: Minimum of 3-5 years of experience or a related field, with specific expertise in letters of credit.
- Analytical Skills: Ability to analyze complex documents and identify discrepanies or compliance issues.
- Communication Skills: Excellent verbal and written communication skills, with the ability to work effectively with clients, banks, and internal teams.
- Attention to Detail: Meticulous attention to detail to ensure the accuracy and compliance of all LCs.
- Problem-Solving: Strong problem-solving skills to identify and mitigate risks associated with LCs.
- Organizational Skills: Excellent organizational skills to manage multiple LC transactions and maintain comprehensive records.
THE FINE PRINT
- Must have unrestricted authorization to work in the United States.
- Must be willing to comply with pre-employment screening, including but not limited to drug testing, reference verification, and background check.
- Must be willing to work hybrid from the Chicago office.
Antares is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability, protected veteran status or other characteristics protected by law.
A reasonable estimate of the current base salary range at the time of posting is below. Base salary does not include other forms of compensation or benefits. Actual base salary within the specified range is comprised of several components, including but not limited to applicant's skill, prior relevant experience, specific degrees and certifications, job responsibilities, market considerations and the location of the position.
This role is eligible for a discretionary annual bonus (based on company, business unit and individual performance).
Our benefit offerings include medical, dental and vision coverage, employer paid short & long-term disability and life insurance, 401(k), profit sharing, paid time off, Maven family & fertility benefit, parental leave (including adoption, surrogacy, and foster placement), as well as other voluntary benefits.
Salary Range
$110,000 - $125,000
To learn more, visit www.antares.com. Antares is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability, protected veteran status or other characteristics protected by law.
