Global Banking & Markets Operations, Letters of Credit Specialist - Associate - Dallas

At Goldman Sachs, we connect people, capital and ideas to help solve problems for our clients. We are a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. For us, it's all about bringing together people who are curious, collaborative and have the drive to make things possible for our clients and communities.

OUR IMPACT

Investment Banking Operations is a dynamic, multi-faceted business that partners with all parts of the firm to facilitate banking & financing capabilities to clients around the world. In addition, IB Operations provide essential risk management and control to preserve and enhance the firm's assets and its reputation. IB Agency is responsible for ensuring efficient and accurate transaction processing across a broad range of products. Generally, the products supported are complex instruments that require close alignment with the business. IB Agency is at the forefront of shaping and driving change in the industry with the ultimate aim of delivering greater accuracy, control and efficiency for our clients and our business. The Letters of Credit servicing team within IB Agency is responsible for the trade finance functions as Standby Letter of Credit Issuer.

YOUR IMPACT

The Letters of Credit servicing team is seeking a standby letters of credit professional who can effectively collaborate with multiple business desks, internal and external legal counsels, as well as applicants and beneficiaries to manage all stages of the transaction, and to mitigate risks associated with the letter of credit product offering. This position requires the ability to handle complex inquiries regarding standby letters of credit from our external clients and internal business partners. Additionally, the individual we are seeking will assist in strategic projects to enhance the product and platform.

HOW YOU WILL FULFILL YOUR POTENTIAL

• 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

SKILLS & EXPERIENCE WE'RE LOOKING FOR

BASIC 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

PREFERRED QUALIFICATIONS

• Experience in loan servicing or operations
• Knowledge of URDG 758

ABOUT GOLDMAN SACHS

At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.

We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.

We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html

Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.