Director Trade Finance Operations - Southington, United States - Webster Bank

Webster Bank Southington, United States

4 weeks ago

Description

If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935, our focus has always been to put people firstdoing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster's values, these set us apart as a bank and as an employer.

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work

Director of Trade Finance Operations is the manager, operational leader, and driver for the development of trade services. The primary objective of this role will be to manage the Trade Finance operations team, including all activities pertaining to structuring, issuance, administration, and risk management related to letters of credit and trade solutions. This role will collaborate with various internal and external partners to respond to inquiries and resolution of documentation exceptions. Work closely with Trade Sales, risk, compliance, credit teams and all designated commercial business lines to effectively identify, manage, and execute on trade finance opportunities. Ensure observance of policy and procedure guidelines while adhering to all internal controls. Director will lead, coach, and motivate employees through encouragement and reinforcement, to create a work environment that fosters teamwork, high morale, and retention.

Manage the day-to-day operational activities
Monitor daily Service Level Agreements and Productivity
Reasonable understanding of operational risks and related controls, audit and internal control framework
Interact with the client, deal teams and LC teams from start to close to final execution of product
Manage all complex LC related referrals from colleagues, stakeholders, and clients
Ability to review legal documentation and ensure it meets operational Standby LC requirements
Ensure that the Bank's KYC, compliance with all respective regulatory requirements and guidelines are strictly adhered
Ensure necessary Letter of credit documentation is completed in a timely manner and drawdown/issuance is achieved within client's expected timescales
Coach and develop direct reports to build effective teams and develop team members
Hold career and individual development plan discussions with all direct reports on an annual basis; provide candid and constructive feedback
Services include issuing, amending, guiding, and releasing letters of credit in accordance with organizational policies and guidelines.
Create and review Standby Letters of Credit, Commercial letters of credit for Import and Export, Documentary and Direct Send Collections and Bankers' Acceptances
Validate data on Letter of Credit application, agreements and credit approval documentation for completeness and adherence to banking policies/regulations
This role will collaborate with various internal and external partners to respond to inquiries and resolution of documentation exceptions
Monitor, create, assign, and distribute work and requests received
Conduct comprehensive analysis of Documentary Collection, Export, Import and Standby Letter of Credit transactions
Perform Customer Onboarding Activities Perform all required document safekeeping, mailing and imaging activities
Develop and update policies and procedures related to support responsibilities
Handle and resolve complex customer inquiries and/or processing issues
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

Experience:

Strong communication, interpersonal, time management, critical thinking, and problem-solving skills.
Ability to manage team, customer focus, drive for result and effectively deal with ambiguity and decision quality.
Bachelor's Degree, Business Administration or preferred.
5+ Years of experience in managing Financial Services or Commercial Lending or International Finance or Letters of Credit or International Trade.
5+ years of knowledge of the guidelines or governing principles of Standby Letters of Credit, Commercial Letters of Credit and Trade Finance.
4+ years of experience with fee or loan accounting and balancing.
4+ years of experience with Commercial Lending knowledge including lending documentation.
4+ years of experience in customer service and resolution handling.

The estimated salary range for this position is $105,000.00 to $115,000.00 USD annually. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

#LI-MM1

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

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