Head of Letter of Credit Management
AIG, New York, NY, United States
Role Overview
The Head of Letter of Credit Management leads the end-to-end governance, administration, and oversight of the organization’s Global Letter of Credit (LOC) portfolio. The role ensures accurate execution of LOC transactions, compliance with statutory and contractual requirements, and strong operational controls across treasury LOC activities.
Key Responsibilities
Lead and oversee the Global LOC management function, ensuring effective governance of statutory and non‑statutory Letters of Credit.
Define the operating framework, policies, and controls for LOC administration.
Drive continuous improvement initiatives to strengthen process efficiency, documentation, and risk controls.
Oversee lifecycle management of LOC transactions including issuance, amendments and increases, decreases, cancellations, and expiry monitoring and renewals.
Ensure accurate validation of LOCs with external banking partners and financial institutions.
Monitor timely execution of LOC transactions and ensure all documentation requirements are satisfied.
Maintain integrity of internal databases and LOC tracking systems.
Establish and maintain strong internal controls and audit‑ready documentation for LOC activities.
Ensure compliance with internal treasury policies and regulatory requirements.
Partner with Risk, Compliance, and Audit teams to address governance requirements and operational reviews.
Identify potential operational or counterparty risks within the LOC portfolio and implement mitigation measures.
Oversee preparation and review of monthly statutory LOC inventory, non‑statutory LOC, audit and regulatory reporting requests.
Coordinate resolution of transaction discrepancies and documentation issues.
Lead and mentor a team of treasury analysts responsible for LOC administration.
Define roles, responsibilities, and operational workflows across the team.
Ensure effective workload allocation, cross‑training, and continuity of operations.
Location & Compensation
Positions based in New York: base salary range $83,000‑$103,000. Competitive benefits, including health, wellness, and professional development packages, are available.
Equal Opportunity Employer
AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please contact candidatecare@aig.com.
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The Head of Letter of Credit Management leads the end-to-end governance, administration, and oversight of the organization’s Global Letter of Credit (LOC) portfolio. The role ensures accurate execution of LOC transactions, compliance with statutory and contractual requirements, and strong operational controls across treasury LOC activities.
Key Responsibilities
Lead and oversee the Global LOC management function, ensuring effective governance of statutory and non‑statutory Letters of Credit.
Define the operating framework, policies, and controls for LOC administration.
Drive continuous improvement initiatives to strengthen process efficiency, documentation, and risk controls.
Oversee lifecycle management of LOC transactions including issuance, amendments and increases, decreases, cancellations, and expiry monitoring and renewals.
Ensure accurate validation of LOCs with external banking partners and financial institutions.
Monitor timely execution of LOC transactions and ensure all documentation requirements are satisfied.
Maintain integrity of internal databases and LOC tracking systems.
Establish and maintain strong internal controls and audit‑ready documentation for LOC activities.
Ensure compliance with internal treasury policies and regulatory requirements.
Partner with Risk, Compliance, and Audit teams to address governance requirements and operational reviews.
Identify potential operational or counterparty risks within the LOC portfolio and implement mitigation measures.
Oversee preparation and review of monthly statutory LOC inventory, non‑statutory LOC, audit and regulatory reporting requests.
Coordinate resolution of transaction discrepancies and documentation issues.
Lead and mentor a team of treasury analysts responsible for LOC administration.
Define roles, responsibilities, and operational workflows across the team.
Ensure effective workload allocation, cross‑training, and continuity of operations.
Location & Compensation
Positions based in New York: base salary range $83,000‑$103,000. Competitive benefits, including health, wellness, and professional development packages, are available.
Equal Opportunity Employer
AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please contact candidatecare@aig.com.
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