Trade Servicing Specialist III

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!

• 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.

• 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. 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. Processes documentary collections (direct, import and export). Responds 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 & Work Experience

High school diploma or GED required

• 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
• Demonstrated 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)

About CoBank

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, and experience.

Reasonable Accommodation

We are committed to ensuring that our online application process provides an equal employment opportunity to all applicants, including qualified individuals with disabilities. If you are an applicant with a disability, or are assisting an applicant with a disability, and require accessibility assistance or would like to request a reasonable accommodation for any aspect of the application process, please submit a request by emailing recruiting@cobank.com. Include your contact information and specific details about your requested accommodation. Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment visa at this time.

Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.