Trade Credit Services Vice President
Jersey City, NJ
Full Time
POSTED ON 6/2/2022
CLOSED ON 10/6/2022
Job Posting for Trade Credit Services Vice President at Sumitomo Mitsui Banking Corporation
Overview:
Trade Credit Services is a part of the BCDAD group and is responsible for organizing and managing loan processes on committed deals where the bank is the administrative, collateral and/or depository agent. SMBC is seeking a Trade Credit Services VP to support a middle office function by actively supporting the invoicing and billing and application of fees related to standby letters of credit in bi-lateral and syndicated transactions. Able to read and interpret credit agreements, support software processes, has an understanding of Loan IQ (the Bank’s loan booking system), and can communicate via telephone with a variety of people including customers, banks, and client executives. The TCSD VP oversees and directs the workflow of the people and operations that process the bank's syndicated and bilateral loan portfolio transactions. This individual reviews and approves the work of the loan processors and ensures all daily duties are completed. This is a tactical and transactional role that focuses on day-to-day operational execution, and frequently contributes to broader strategic planning within the area of agency, syndicated and bilateral loan administration.
Responsibilities:
- Sets policies within the purview of bank and statutory requirements as well as government regulations.
- Provides day-to-day operational support of existing and new departmental processes and enterprises initiatives.
- Administers the appraisal/performance process per the performance evaluation standards set by the bank.
- Supervises and provides technical guidance to the staff, ensuring that all tasks are carried out appropriately, in a timely manner, in accordance with the bank's governance structure, and with minimal risk to the organization.
- Identifies areas for process improvements and/or value-added functionality, evaluates alternatives and presents options to senior management.
- Manages special projects, both cross-functional and internal, tied to the bank and/or the loan department's strategy.
- As one of the key business leads will provide input and feedback for the development of a new databases or functions, inclusive of enforcing procedures in accordance with the bank's and department's governance.
- Participates in Business Continuity exercises to ensure smooth recovery of applications in the event of unplanned business disruption.
- 5-7 years' experience managing a Back Office Operations, Accounting and/or Loan Administration team preferred.
- Extensive experience in and expert knowledge of letter of credit servicing activities and related loan documentation.
- Expert understanding of LIQ system and terminology.
- Ability to manage a staff in the invoicing and billing of standby letters of credit and complete to collections from clients.
- Proficiency in customer service and analythical skills.
- Excellent mentoring and management proficiency with demonstrated ability to delegate and influence others.
- Ability to set priorities, develop a work schedule, monitor progress towards goals and track activities
- Communicates well orally and in writing
- Experienced in effective communication with external and internal customers; has experience interfacing with agent banks, relationship managers and treasury personne
- Experiencing managing a loan documentation team in an international bank or financial services institution.
- MS Word, MS Excel, MS Access, Lotus Notes, Loan IQ,
- Education: Preferred BA / BS (or equivalent experience)
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Salary.com Estimation for Trade Credit Services Vice President in Jersey City, NJ
$55,833 to $71,250
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