Letter of Credit & Specialty Coordinator

Description

Job Summary

This individual will be responsible for supporting all functional activities of the Letter of Credit portfolios for Commercial and Small Business Lending across the Northwest Bank footprint. This role will prepare all associated applications, reimbursement agreements, guarantees, pledge and security agreements, etc. necessary to support the underwriting requirements defined in Credit memo. Issue, amend, renew, examine draws, and process maintenance activities for standby Letters of Credit and conduct international trade transactions for import and export Letters of Credit.

Individual will also assist the Specialty Loan Operations, which currently includes deals originated via Corporate Finance, Sponsor Finance, Sports Finance, Restaurant Franchise and Secondary Market lending areas. Such tasks may include administrative support transactions associated with participated, syndicated, and indirect commercial and/or Small Business loans.

This individual must be able to adhere to several different process flows and multifarious documentation and be responsible to mitigate operational risks. Must manage time constraints and meet both internal and external customer expectations while applying superior analytical skills and advanced Letter of Credit and loan documentation knowledge to each transaction.

Essential Functions

Issue and amend all Letters of Credit in accordance with Northwest policies, procedures, and industry standards. Structure the terms and conditions of each Letter of Credit and amendment while preparing all required operations' checklists, system forms and instruction for proper compliance, legal, and core system risk mitigation. Coordinate and curative actions required by independent review

Examine standby Letter of Credit documents presented for payment in accordance with global/standard banking rules of practice and law to determine payment or refusal. Complete all processing for honored payments across multiple systems and applications

Prepare and review all Letter of Credit documentation from numerous origination sources, such as LaserPro, Global Trade, SyndTrak, LaswyerPro and other utilized sources. Interpreting complex credit agreements and related documents working with business partners in commercial lending, portfolio management and closing desk

Review and understand thoroughly approved credit memos defining the terms and conditions for issuance and amending of Letters of Credit; coordinate and confirm due diligence activities

Initiate auto extension notifications, requests for credit approvals for satisfaction of all SOX controls and processing of Letters of Credit with auto extension provisions adhering to all commercial credit policies

Process all early cancellations, expirations and associated collateral release functions for Letter of Credit

Perform activities related to Letter of Credit core system set-up, fee payment, calculation, reconcilement, etc. to ensure accurate reporting of data

Act as point of contact between lender, underwriter, portfolio manager, client and closing desk to provide clear guidance and transparency for each Letter of Credit process. Conduct and participate in collaborative calls as an essential Northwest team member for the product

Understand the application of International Chamber of Commerce publications ISP98, UCP600, URC522, ISBP to Letters of Credit and other trade service products

Transact import and export Letter of Credit and documentary collection processing utilizing the banks correspondent partner Global Trade application system. Provide all necessary on-boarding data, forms, certifications necessary for new client compliance adherence

Support requested loan advances received from lead banks under participation and syndicated loan facilities. Process maintenance transactions such as annual review date, maturity dates, etc. and other tasks as assigned

Coordinate the