Head of Letter of Credit Management

Role Overview:

The Head of Letter of Credit Management is responsible for leading 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 Letter of Credit 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 and 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, 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.

For positions based in New York, the base salary range is $83,000-103,000. We are proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits.

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what's most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security-as well as your professional development-to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world's most far-reaching property casualty networks. It is an exciting time to join us - across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of inclusion

We're committed to creating a culture that truly respects and celebrates each other's talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG's greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

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 send an email to [email protected].

Functional Area:

FA - Finance

AIG Employee Services, Inc.