Analyst , Operations - Letters of Credit

General information

# 22767

Remote? No

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Ally Financial only succeeds when its people do - and that’s more than some cliché people put on job postings. We live this stuff! We see our people as, well, people - with interests, families, friends, dreams, and causes that are all important to them. Our focus is on the health and safety of our teammates as well as work-life balance and diversity and inclusion.

From generous benefits to a variety of employee resource groups, we strive to build paths that encourage employees to stretch themselves professionally. We want to help you grow, develop, and learn new things. You’re constantly evolving, so shouldn’t your opportunities be, too?

This role is based out of our NYC office.

The Operations Analyst - Letters of Credit (LC) has LC experience handling irrevocable standby LCs for middle-market leveraged deal structures, servicing agented or non-agented deals.

Individuals at this level can perform and coordinate all LC activities. Primary responsibilities include the direct handling of the LC process, specializing in standby LCs.

In addition, this position includes the administration of key segregated duties, including wire instruction setup for clients, co-lenders, and agents, and performing OFAC screening. The individual has a working knowledge of operational procedures, Sarbanes-Oxley (SOX), and risk frameworks and controls. Operations personnel at this level can handle their assigned workload with minimal supervision.

The Operations Analyst - LC should have experience working on the Loan IQ system or other commercial lending loan systems.

• The Operations Analyst is well-versed in all letters of credit activities and can perform, coordinate, and administer the following responsibilities:
• Letter of credit applications, approvals, issuance, and amendments for direct deals as the issuing bank (Ally Bank) and on behalf of other issuing banks.
• Monitor evergreen LCs with sufficient time to address renewal dates.
• Outbound wire setup, OFAC screening, and daily funding activities to support new business and daily servicing requirements.
• Operations control responsibilities, including the reconciliation of letter of credit activities and various month-end reporting activities. Actively prepare for and participate in the month-end and quarter-end closing processes to ensure letters of credit processing activities are completed on a timely basis.
• Participate in disaster recovery activities and readiness, including key information archival and work-from-home testing.

Minimum Qualifications:

• 1 year of experience
• High School Diploma or GED Equivalent

Preferred Qualifications:

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1 year of operational experience handling standby letters of credit in the role of the LC issuing bank ;3 years of LC experience is highly preferred.
* Operational control experience handling LC reconciliation activities.
* Excellent communication, verbal, written, interpersonal, and organizational skills.
* Highly analytical and detail-oriented, with problem-solving capability.
* Ability to work independently with demonstrated time management skills.
* High level of accountability and the ability to effectively prioritize tasks.
* Highly motivated self-starter.
* Must have MS Word and Excel experience .
* Knowledge of Loan IQ or related systems, with 5+ years of hands‑on operations processing experience preferred.

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Ally's compensation program offers market‑competitive base pay and pay‑for‑performance incentives (bonuses) based on achieving personal and company goals. But Ally’s total compensation - or total rewards - extends beyond your paycheck and is designed to support and enrich your personal and professional life, including:
* Time Away: competitive holiday and flexible paid‑time‑off, including time off for volunteering and voting.
* Planning for the Future: plan for the near and long term with an industry‑leading 401K retirement savings plan with matching and company contributions, student loan and 529 educational assistance programs, tuition reimbursement, and other financial well‑being programs.
* Supporting your…