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PURPOSE
- To support Global Loan Administration with the end to end processing of Guarantees/Standby Letters of Credit (SBLC) under syndicated and bilateral credit facilities in T360 from draft to issuance to payment or cancellation.
- The competence with which the incumbent’s duties are carried out has a major impact on the credibility of the department, both within and outside the Bank. Failure to perform in an efficient and competent manner can not only jeopardize the Bank’s reputation, but can also result in significant material losses.
- The incumbent must display a clear understanding of the technical and administrative aspects of all guarantee and SBLC applications and amendments in order to resolve the various requests for interpretation and action that arise daily.
PRIMARY RESPONSIBILITIES
- Counsel and advise clients on transactional issues, risk mitigation, document preparation and international rules and regulations
- Provide structuring and co-ordination including liaising with 3rd parties as required
- Provide draft language for Guarantees/SBLC’s as required
- Responsible for the text of all instruments issued and thereto amended and their issuance in accordance with the applicable rules and standard banking practices
- Ensure that all transactions processed comply with KYC and AML guidelines, Anti-boycott compliance, OFAC, FinCEN, USA Patriot Act and other sanctions imposed from time to time by various government/regulatory agencies.
- Provide post transactional service to clients
- Exercise due diligence by following operational risk policies, procedures, standards and guidelines
- Ensure all fee income on guarantees/SBLC’s is received and correctly accounted and reported
- Act as a backup to other Administrators on the team
- Acts as verification officer for all ACBS two touch transactions
AUTHORITIES, IMPACT, RISK
- Heavy reliance is placed on the incumbent’s knowledge, skills and judgment in trade documentation, settlement and structuring of Guarantees. Errors could result in substantial operating loss to the bank.
- Authority to proof other Administrator’s related activities such as release of payments
KEY RELATIONSHIPS
- GTS (Global Transaction Solutions)
- Borrowers’ credit officers and administrative staff
- RBC Agency Services and other Admin Agents
- RBC Capital Markets group including Corporate Credit and CTM
- Other RBC units and service partners
- Internal and external legal counsel
JOB SPECIFICATIONS
Required:
- Good knowledge of all aspects of guarantees/SBLC’s and ability to interpret and apply various related rules, regulations and applicable law.
- Fully conversant with all ICC rules, regulations and circulars relative to guarantees
- Proficiency in Excel, Word, ACBS, and T360
- Ability to work effectively both independently and within a team environment
- Ability to prioritize, work under pressure and meet time sensitive deadlines
- Strong organizational skills; detail oriented
- Excellent written and oral communication skills
- Ability to identify and eliminate/reduce risk associated with guarantees
Preferred:
- Bi-lingual (English and French)
- Certified Documentary Credit Specialist (CDCS)
About RBC
Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We have over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 37 other countries. For more information, please visit rbc.com.
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Inclusion and Equal Opportunity Employment
RBC is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veterans status, Aboriginal/Native American status or any other legally-protected factors. Disability-related accommodations during the application process are available upon request.