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.

• 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.

Ally's compensation program offers market-competitive base pay and pay-for-performance incentives (bonuses) based on achieving personal and company goals. Our Total Rewards program includes industry-leading compensation and benefits plus additional incentives that are designed to meet your needs and those of your family so you can get the most out of your career and your life, including:

• Time Away: Program starts at 20 paid time off days in addition to 11 paid holidays and 8 hours of volunteer time off yearly (time off days are prorated based on start date and program varies based on full or part-time status and management level).
• 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 pay downs and 529 educational save up assistance programs, tuition reimbursement, employee stock purchase plan, and financial learning center and financial coach access.
• Supporting your Health & Well-being: flexible health and insurance options including medical, dental and vision, employee, spouse and child life insurance, short- and long-term disability, pre-tax Health Savings Account with employer contributions, Healthcare FSA, critical illness, accident & hospital indemnity insurance, and a total well-being program that helps you and your family stay on track physically, socially, emotionally, and financially.
• Building a Family: adoption, surrogacy and fertility assistance as well as paid parental and caregiver leave, Dependent Day Care FSA back-up child and adult/elder care days and childcare discounts.
• Work-Life Integration: other benefits including Mentally Fit Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs.
• Other compensations: depending on the role for which you are considered, you may be eligible for travel allowances, relocation assistance, a signing bonus and/or equity.
• To view more detailed information about Ally’s Total Rewards, please visit this link: https://www.ally.com/content/dam/pdf/corporate/ally-total-rewards-snapshot.pdf

Who We Are:

Ally Financial is a customer-centric, leading digital financial services company with passionate customer service and innovative financial solutions. We are relentlessly focused on "Doing it Right" and being a trusted financial-services provider to our consumer, commercial, and corporate customers. For more information, visit www.ally.com.

Ally is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to age, race, color, sex, religion, national origin, disability, sexual orientation, gender identity or expression, pregnancy status, marital status, military or veteran status, genetic disposition or any other reason protected by law.

We are committed to working with and providing reasonable accommodation to applicants with physical or mental disabilities. For accommodation requests, email us at hrpolicy@ally.com. Ally will not discriminate against any qualified individual who is capable of performing the essential functions of the job with or without reasonable accommodation.