Standby Letter of Credit Specialist - Associate

Job Description:

Job Title Standby Letter of Credit Specialist

Corporate Title Associate

Location Jacksonville, FL

Overview

This role supports the Leveraged Debt Capital Markets (LDCM) Standby Letter of Credit platform. You will be responsible for supporting the Relationship Manager with their client’s request to issue and amend Standby Letters of Credit. The role will include working closely with Beneficiaries and internal business partners to ensure our client’s needs are met.

What We Offer You

• A diverse and inclusive environment that embraces change, innovation, and collaboration

• A hybrid working model, allowing for in-office / work from home flexibility, generous vacation, personal and volunteer days

• Employee Resource Groups support an inclusive workplace for everyone and promote community engagement

• Competitive compensation packages including health and wellbeing benefits, retirement savings plans, parental leave, and family building benefits

• Educational resources, matching gift, and volunteer programs

What You’ll Do

• Issue and amend of Standby Letters of Credit as requested by our clients and in accordance with their governing rules, ISP98 or UCP600, as applicable

• Ensure a clear understanding of the underlying transaction as it relates to the purpose of the Standby Letter of Credit and the roles of the parties involved; review and provide comments on Credit Agreements as they relate to Standby Letters of Credit

• Process incoming claims for correspondent bank fees, invoice the client and follow up on any past due payments; respond to inquiries from clients and internal business partners on their Standby Letter of Credit transactions

• Review any documents presented for payment under a Standby Letter of Credit to ensure they comply with its terms and conditions; ensure strict compliance with all policies and procedures in place for Standby Letters of Credit

• Adhere to all Office of Foreign Assets Control, Anti-Money Laundering, and other U.S. Federal Regulatory compliance regulations

• Collaborate in the development and implementation of new processes and systems in order to drive changes and improvements; working closely with both the Agented and Non-Agented teams to ensure timely and accurate servicing on Standby Letter of Credit matters

Skills You’ll Need

• Extensive Standby Letter of Credit experience

• Extensive knowledge of the UCP600 and ISP98

• Knowledge of the swift processing system, MT760’s, MT767’s, etc.

• Strong background in reviewing Credit Agreements as they relate to Standby Letters of Credit

• Strong Microsoft Word, Excel, PowerPoint, and Outlook skills

Skills That Will Help You Excel

• Bachelor’s degree in accounting, finance, economics, or related discipline preferred

• Confident, articulate, and able to build rapport and strong relationships; reliable team player with strong communication skills

• Client service oriented with strong sense of accountability and ownership

• Ability to rapidly learn and apply complex requirements; numerate and analytical with a high attention to detail; ability to multi-task and prioritize workflow

• Collaborative in a fast paced, team-oriented environment and solution oriented

Expectations

It is the Bank’s expectation that employees hired into this role will work in the Jacksonville, FL office in accordance with the Bank’s hybrid working model.

Deutsche Bank provides reasonable accommodations to candidates and employees with a substantiated need based on disability and/or religion.

The salary range for this position in Jacksonville, FL is $50K to$100K. Actual salaries may be based on a number of factors including, but not limited to, a candidate’s skill set, experience, education, work location and other qualifications. Posted salary ranges do not include incentive compensation or any other type of remuneration.

Deutsche Bank Benefits

At Deutsche Bank, we recognize that our benefit programs have a profound impact on our colleagues. That’s why we are focused on providing benefits and perks that enable our colleagues to live authenti­cally and be their whole selves, at every stage of life. We provide access to physical, emotional, and financial wellness benefits that allow our colleagues to stay financially secure and strike balance between work and home. Click here to learn more!

Learn more about your life at Deutsche Bank through the eyes of our current employees: https://careers.db.com/life

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We welcome applications from all people and promote a positive, fair and inclusive work environment.

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