Lead Trade Servicing Specialist

Benefits Overview

A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. In order to be the best, we hire the best!

Benefits Offered by Co Bank

* Careers with a purpose

* Time-Off Packages, 15 days of vacation, 10 paid sick days and 11 paid holidays

* Competitive Compensation & Incentive

* Hybrid work model: flexible arrangements for most positions

* Benefits Packages, including Medical, Dental and Vision coverage, Disability, AD&D, and Life Insurance

* Robust associate training and development with CoBank University

* Tuition reimbursement for higher education

* Outstanding 401k: up to 6% matching and additional 3% non-elective contribution & Student Loan Match

* Community Impact:
United Way Angel Day, Volunteer Day and Associate Directed Contribution

* Associate Resource Groups: creating a culture of respect and inclusion

* Recognize a fellow associate through our GEM awards

Job Description

Possesses subject matter expertise and understanding of Trade Services Products and Services such as Import, Export, and Standby Letter of Credit Letters of Credit, GSM, Supply Chain Finance, and Direct Collections. Performs technical transaction processing related to examining and paying standby and export letters of credit including reviewing and releasing transactions for other document specialists. Provides high-level customer service with particular emphasis on processing documents promptly and without exposure to the bank.

Facilitates international trade transactions related to Commodity Credit Corporation programs.

Essential Functions

* Reviews letters of credit issued by foreign correspondent banks and interprets requirements. Resolves inconsistencies with the issuers, and provides advice to beneficiaries on alternatives. Enters information in the letter of credit system, and provides customer with formal advice.

* Examines commercial documents for accuracy and compliance with letter of credit terms and conditions and can assists peers in complex language review in relation to Trade rules and regulations

* Resolves discrepancies with customers, including offering alternatives for facilitating payments.

* Examines documentation for compliance to USDA programs and policies, and submits required documents and reports to government agencies.

* Processes payments under letters of credit and bankers' acceptances.

* Responds to customers' routine inquiries on technical questions regarding preparation of documents and/or mechanics of government program.

* Initiates loan advances for Trade Services related transactions.

* Accepts, secures, and monitors loan documentation.

* Process Supply Chain transactions. Enters information in Cync and ACBS to create funding and payment batches.

* Supports Direct Loan processing. Applies acquired knowledge of ACBS and ability to process loans and payments on ACBS Loan System.

* Documentary Collections, entry and payments. Process documentary collections (direct, import and export). Respond to foreign bank correspondents related to documentary collections. Enters information in the letter of credit system and provides customer with formal advice.

* Approves and releases transactions for section team members for all Trade Services products.

* Performs routine departmental audits and physical inventories of documents.

* Assists Trade Servicing leadership with mentoring, training and continuous improvement opportunities, including writing and maintaining procedures.

* Can effectively manage escalated customer and/or system matters in partnership with the Leadership Team.

* Serves as a backup resource to Trade Services Analyst in reconciliation and control reports review management.

* Provides support to other associates in completing assignments as required.

Education

* High school diploma or GED required

Work Experience

* 6 years of experience, preferably in the banking or financial services industry. required

* Subject matter expert knowledge from a banking operations perspective on letters of credit examination and payment processing in accordance with current ICC Uniform Customs and Practice for Documentary, International Standard…