Escrow Product Specialist
Citigroup Inc.
Dallas, Texas
escrow
escrow
transactions
team
legal
private bank
calls
accounts
counsel
compliance
coordinate
closings
management
November 27, 2022
Citigroup Inc.
Dallas, Texas
- The Escrow and Paying Agent Services team has an immediate opening for an Escrow Product Specialist in its NYC / CHICAGO / SAN FRANCISCO offices.
- Work closely with all members of the Escrow Team and the Escrow Business Development Team to assist with the marketing, delivery and servicing of the Escrow Agent Product to Private Bank clients nationwide.
- Negotiate escrow agreements for new transactions, adhering closely to Citi legal requirements and client timeframes.
- Understand and minimize the risks of escrow agent transactions when negotiating agreements.
- Involve internal Citi Legal Counsel when / as needed to ensure compliance with Citi requirements.
- Involve internal partners such as foreign exchange specialists, equity specialists, etc.
- Work closely with Private Bankers / Banker Associates to obtain all required Know Your Customer / AML / Patriot Act and related account opening documentation.
- Coordinate deal closings with clients - attend and/or participate in closing calls as necessary.
- Participate in sales calls, client presentations and conference calls as necessary.
- Oversee account openings, funding and closings with junior team member(s); review documentation provided for completeness and accuracy.
- Identify deficiencies and coordinate with banking team and/or clients to cure deficiencies.
- Review of escrow agreements / contracts as necessary to determine if client requests / instructions provided are permissible.
- Understand requirements and monitor activity for specific Escrow accounts to ensure Citibank's contractual duties and responsibilities are strictly followed.
- Prepare, maintain and update spreadsheets, calculations, reports and/or special documentation required for specific transactions (complexity can vary from deal to deal).
- Manage / oversee all "tickler" items - payments or actions that Citi as Escrow Agent is contractually and legally bound to deliver on specific dates or when specific conditions are satisfied.
- Manage / oversee all claim submissions.
- Ensure claim procedures and deadlines are strictly followed to avoid breach of contract issues.
- Liaise with Citi legal counsel as / when needed.
- Ensure compliance with all legal and regulatory policies and requirements of the Citi Private Bank.
- Resolve client inquiries and issues on a timely basis and as accurately as possible through effective and efficient use of Private Bank resources.
- Domestic travel when / as required.
- Bachelor's degree required; Masters degree preferred.
- Approximately 7 to 10 years' experience working with escrow transactions and/or settlement funds.
- Through understanding of and experience with discussing and negotiating escrow agent transactions is essential.
- Strategic focus: strong candidates will exhibit an ability to proactively think "out of the box" and to creatively craft solutions to meet client needs.
- All transactions are different and clients constantly seek a "Citi solution" for their endeavors.
- Technical skills: thorough knowledge and familiarity with Microsoft Word, Excel and Outlook is mandatory.
- Project management skills: candidate must be highly organized and efficient; ability to effectively multi-task and adhere to daily time sensitive deadlines is critical.
- Analytical skills: the ability to read, comprehend and interpret legal documents and contracts governing escrow accounts is required.
- Negotiating skills: experience with negotiating contracts or documents related to escrow accounts.
- This position requires heavy client contact; strong interpersonal and client relationship management skills are essential.
- Excellent oral and written communication skills.
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