Letter of Credit Officer obtains necessary information to process and complete letters of credit and related financial transactions. Verifies all documentation for accuracy and completeness. Being a Letter of Credit Officer ensures all credit data is evaluated and adheres to bank policies and procedures in order to approve or deny applications. Provides support to lending officers and trade specialists. Additionally, Letter of Credit Officer may require a bachelor's degree. Typically reports to a manager or head of a unit/department. The Letter of Credit Officer gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. To be a Letter of Credit Officer typically requires 2 to 4 years of related experience. (Copyright 2024 Salary.com)
PRIMARY OBJECTIVE OF POSITION
The primary objective of this position is commercial business credit underwriting, documentation, monitoring, and detailed evaluation of applicants’ financial histories, projections, and statements. Tasks include analyzing applicant’s business plan(s), financial information, and credit worthiness which directly impacts lending decisions.
ESSENTIAL JOB FUNCTIONS
RELATIONSHIPS AND CONTACTS
Supervise Approximately: None
Reports To: Vice President of Credit
EDUCATION
EXPERIENCE
PHYSICAL REQUIREMENTS
Position involves wrist/hand manipulation; frequent viewing of computer monitor; restriction to workstation for extended periods of time. Ability to work extended hours as required.
EQUIPMENT SKILLS
Personal computer with Windows operating system, scanner(s), calculator(s), copy machine, and general office equipment.
The above statements reflect the general details considered necessary to decide the principal functions of the job identified and shall not be construed as detailed description of all work requirements that may be inherent in the job.
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