Contract Manager- Trade Finance

1 month ago

Chicago, Illinois, United States Bank of America Full time

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us

Job Description:

Prepares, reviews, drafts, negotiates agreements including master agreements and supporting documentation for account opening, treasury management, with a particular emphasis on Trade Finance products and services notably supply chain finance, traditional trade and risk participation. Applies experience, industry standards and knowledge of trade finance products and services mechanism and specific rules and regulations and Bank of America policies to address related credit, risk compliance, legal, operational and business issues. Facilitates communications among sales, implementation, product, operations, compliance, risk, credit officers, legal staff, and client managers to promptly resolve documentation issues. Capable of organizing and prioritizing a large number of competing, complex documentation assignments to meet customer needs. Has excellent analytical, verbal and written communications skills and is comfortable representing Bank of America in communications with associates, clients and internal/external counsel at all levels of management. Advises and educates internal associates about documentation standards and options, policies and procedures.

Contract Manager efficiently and proactively negotiates and drafts complex, high-value, multifaceted Trade Finance contracts (mainly supply chain, traditional trade, risk participations and NDAs) by working closely with business stakeholders and external clients to assist the business to generate revenues while remaining within the risk framework of the Bank and managing all risks associated with trade contracts appropriately.

Contract Manger is also responsible for managing the repository of standard 400+ trade templates and keeping those trade templates secure, consistent and while overseeing updates and amendments and for managing projects within & outside Contract Management team with an aim to streamline documentation and improve client experience while ensuring compliance with the requirements of the operational risk framework and contractual risk appetite of Bank of America.

In particular Contract manager will

Act always with high integrity and ethic and within the risk framework of the BankPerform analytic, legal and business reviews of contractual language in contracts, schedules and amendments and develop general, special and operational provisions in contracts to ensure maximum benefit to the company and to limit risk.Apply strong verbal and written communications skills to represent Bank of America in negotiations and communications with clients, stakeholders and internal/external counsel at all levels of management.Develop strategies to resolve and manage potential problems on major contracts to effectively meet organizational goals and objectives.Assess and advise on contractual issues and business risks associated with contracts to eliminate unnecessary liability, ensure compliance and reduce legal entanglements.Maintain objectivity in identifying legal/risk issues, weighing risks and balancing competing objectives of bank risks with client needs and satisfaction to achieve optimal results by escalating material risks to senior leadership team.Serve as an expert resource, reinforcing, advising and instructing company personnel on corporate policy, compliance and legal requirements, documentation standards and options and procedures related to developing contractual arrangements.Requirements:Postgraduate legal degree (Juris Doctorate) required with paralegal/technical contract training or equivalent work experience preferred (minimum five years)Previous banking and financial services industry experiencePrevious legal background/experience as a qualified lawyer a plusExperience in conducting negotiation effectively in a customer facing roleBroad understanding of trade finance products and/or lending documentation Ability to develop effective and positive client relationships, adapting to changing needs of internal stakeholders and external customers.Desired Skills:Understanding of regulatory and compliance requirements across the regions.Strong attention to detail.An independent leader who is a collaborative and proactive team player that is able to influence and is a solution driven strategic forward thinker with a can-do attitude.Knowledge of company legal structures, e.g., sole proprietorships, partnerships, limited partnerships, LLCs, corporations, trusts, etc.Shift:1st shift (United States of America)Hours Per Week: 40

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