Trade Servicing Specialist III

Job Title

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 fundamental 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 import and export letters of credit including reviewing and releasing transactions for other document specialists, as assigned. Performs tasks related to Documentary Collections, Supply Chain and Direct Financing.

Transacts international loans and monitors related loan documentation.

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.

Responds to customer inquiries and resolves problems through research and analysis; reconciles discrepancies, including offering alternatives for facilitating payments.

Processes payments under letters of credit and bankers' acceptances.

Responds to customers' routine inquiries on technical questions regarding letters of credit, documentary collections and supply chain transactions.

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, as assigned.

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.

Provides support to other associates in completing assignments as required.

Education

High school diploma or GED required

Work Experience

3 years of experience preferably in the banking or financial services industry; or appropriate combination of education and experience required

Intermediate 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 Banking Practice (ISBP) and CoBank's international banking standard.

Knowledge of USDA programs such as General Sales Manager (GSM) and EXIM programs and regulations.

Basic knowledge of principles of accounting preferred.

Fundamental knowledge of ICC Uniform Rules for bank-to-bank reimbursement.

Ability to solve problems and identify when to escalate issues.

Demonstrated tact, persuasiveness and interpersonal skills, with the ability to communicate effectively with foreign and domestic customers, borrowers and financial institutions.

Ability to work independently as well as collaboratively in a team environment.

Strong organizational skills and detail orientation, with demonstrated ability to multi-task and work effectively under time constraints and changing priorities in order to meet deadlines

Developed customer service, verbal and written communication skills, with the ability to interact with and engage others appropriately at all levels in the organization.

Demonstrated skills in Microsoft Office applications (Outlook, Word and Excel)

Travel Requirement Details

Occasional Travel occurs infrequently (typically, once a month or less).

About Co Bank

The typical base pay range for this role is between $62,200 - $71,100. Compensation may vary based on individual job-related knowledge, skills, expertise,…