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Letters of Credit Specialist I
Detroit, MI
Job Description
Lending and Trade Services Operations Specialist
The Operations Specialist role will be responsible for supporting all functional and workflow activities in the creation and review of our Letters of Credit and Documentary Collection files. These include but not limited to Standby Letters of Credit, Commercial letters of credit for Import and Export, Documentary and Direct Send Collections and Bankers' Acceptances. This role will collaborate with various internal and external partners to respond to inquiries and resolution of documentation exceptions. LTS support the global and commercial lending product offerings within all designated commercial, retail, and wealth business lines.
Please Note: This is a hybrid position; 3 days/week onsite per manager discretion.
Position Competencies
Please Note: This is a hybrid position; 3 days/week onsite per manager discretion.
Position Competencies
- Successful incumbents must possess strong communication, interpersonal, time management, critical thinking and problem-solving skills. The candidate must have proven ability to work independently, customer focus, political savvy, drive for result and effectively deal with ambiguity and decision quality.
Position Responsibilities:
Execute and drive operational excellence - Perform services activities to achieve established operation, executive and client target metrics that include:
- Monitor, create, assign, and distribute work and requests received.
- Conduct comprehensive analysis of Documentary Collection, Export, Import and Standby Letter of Credit transactions.
- Validate data on Letter of Credit application, agreements and credit approval documentation for completeness and adherence to banking policies/regulations.
- Perform Customer Onboarding Activities Perform all required document safekeeping, mailing and imaging activities.
- Develop and update policies and procedures related to support responsibilities.
Enhance the Experience
- Maintain and continually improve business partner service and customer experience satisfaction for services delivered.
- Answer clearly and concisely all email and phone inquiries within established service levels.
- Handle and resolve complex customer inquiries and/or processing issues.
- Meet with business partners when assistance is requested.
- Identify areas of improvement or objective for enhancing customer experience.
Risk Management
- Ensure compliance with all respective regulatory requirements and guidelines.
- Ensure all activities are completed according to established policy and procedures.
- Ensure adherence to all customer authentication and release of sensitive information
policies and procedures in hybrid/remote working environment.
Position Qualifications:
- Associate's Degree, Business Administration, or 4 Years of experience in Financial Services or Commercial Lending or International Finance or Letters of Credit or International Trade
- 4 years of experience in utilizing Microsoft Office products
- 3 years of experience with Commercial Lending knowledge including lending documentation
- 3 years of experience in commercial lending systems
- 3 years of experience in customer service and resolution handling
- 3 years of experience in identifying, evaluating, and determining risks and consequences for decision making (with consultation as necessary)
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
Job Summary
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
Associate Degree
Required Experience
4+ years
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