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Credit Admin Officer · New York, NY
PURPOSE:
To support Credit Administration in processing of Letters of Credit and related transactions.
Key Accountabilities:
KEY RESULT AREAS:
• Issuance of Standby Letters of Credit (LCs), amendments thereto, examination of documents presented under the LCs and decision payments, all in accordance with the international standard banking practices and RBC policy and procedure.
• Report to Agency Services LC activities under syndicated facilities.
• Prepare Fax/email LC Fee invoices to clients and follow up on payments.
• Verify the accuracy of Fees payments received from Agency Services on Fronted LCs.
• Verify the transactions listed above processed by associates.
• Review and promptly act on the Daily Fees Due Today Report, Auto Renewal Report and Loan Fee Delinquency Report.
• Ensure that any adjustments to fee accrual and P&L are properly authorized and reported to comptroller’s office.
• Maintain accurate record of fronted LCs and make prompt and timely adjustments to the spreadsheet tracking mitigated risk.
• Ensure that all transactions processed comply with KYC and AML guidelines, Anti-boycott compliance, OFAC, FinCEN, USA Patriot ACT and other sanctions imposed from...
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