Senior Standby Letter of Credit Specialist

Standby Letter of Credit Services Consultant

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.

Job Description

Responsible for providing consultation and guidance regarding standby letter of credit services provided by GTSS to GTSS staff, clients and business partners in addition to performing a variety of duties relating to the processing of transactions necessary to support the banks standby letter of credit portfolio in accordance with applicable regulations, policies and procedures. Services include issuing, amending, advising, confirming and releasing standby letters of credit accordance with organizational policies and guidelines.

Key Responsibilities :

Structure standby letter of credit terms and text to meet the needs of specific client transactions.

Capable of drafting the more complex Standby Letters of Credit including Syndicated Letters of Credit, Direct-Pay Letters of Credit supporting Industrial Revenue Bonds, Counter and Counter-Counter Standby Letters or Credit. Ensures needed regulatory compliance and credit approvals are obtained prior to issuing and / or releasing Standby LCs.

Examines documents for payment under Standby Letters of Credit for compliance with Letter of Credit terms.

Works closely with Relationship Managers, clients, beneficiaries, internal and external Counsel as needed to structure and finalize complex Standby Letters of Credit

Advises management on developments that impact the department

Basic Qualifications

Bachelor's degree, or equivalent work experience

Six or more years of related experience

Preferred Skills / Experience

In-Depth knowledge of complex Standby Letters of Credit

Thorough knowledge of policies, plans, procedures, products and regulatory requirements for assigned business unit

Ability to conduct an analysis of a business need, including scheduling meetings, planning agendas and conferring with business line leaders

Strong understanding of project management and testing methodology and procedures

Ability to develop test schedules, review testing plans, track test issues and report on test results

Strong analytical and forecasting skills

Ability to manage multiple tasks / projects and deadlines simultaneously

Ability to work as part of a project team

Benefits :

Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours) :

Healthcare (medical, dental, vision)

Basic term and optional term life insurance

Short-term and long-term disability

Pregnancy disability and parental leave

401(k) and employer-funded retirement plan

Paid vacation (from two to five weeks depending on salary grade and tenure)

Up to 11 paid holiday opportunities

Adoption assistance

Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range : $81,515.00 - $95,900.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.