Contract Manager- Trade Finance (CM)

Unclassified - Chicago, IL

Full-time - Mid Level

Chicago, IL

About the position

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!

Responsibilities

• Prepares, reviews, drafts, and negotiates agreements including master agreements and supporting documentation for account opening and treasury management, with a particular emphasis on Trade Finance products and services.
• Applies experience, industry standards, and knowledge of trade finance products and services mechanisms and specific rules and regulations 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.
• Organizes and prioritizes a large number of competing, complex documentation assignments to meet customer needs.
• Advises and educates internal associates about documentation standards and options, policies, and procedures.
• Negotiates and drafts complex, high-value, multifaceted Trade Finance contracts by working closely with business stakeholders and external clients.
• Manages the repository of standard 400+ trade templates, ensuring they are secure, consistent, and updated as necessary.
• Manages projects within and outside the Contract Management team to streamline documentation and improve client experience while ensuring compliance with operational risk framework and contractual risk appetite.
• Performs analytic, legal, and business reviews of contractual language in contracts, schedules, and amendments to ensure maximum benefit to the company and limit risk.
• Develops strategies to resolve and manage potential problems on major contracts to effectively meet organizational goals and objectives.
• Assesses and advises on contractual issues and business risks associated with contracts to eliminate unnecessary liability, ensure compliance, and reduce legal entanglements.
• Maintains objectivity in identifying legal/risk issues, weighing risks, and balancing competing objectives of bank risks with client needs and satisfaction.
• Serves as an expert resource, reinforcing, advising, and instructing company personnel on corporate policy, compliance, and legal requirements.

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 experience.
• Previous legal background/experience as a qualified lawyer is a plus.
• Experience in conducting negotiations effectively in a customer-facing role.
• Broad 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.

Nice-to-haves

• 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.

Benefits

• Competitive benefits to support physical, emotional, and financial well-being.