Trade Servicing Specialist IV

Job Description

Possesses in-depth 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.
• Solves 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.
• 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.
• Supports 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. 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 for all Trade Services Products.
• Performs routine departmental audits and physical inventories of documents.
• Affords support to other associates in completing assignments as required.

Education

High school diploma or GED required

Work Experience

5 years of experience, preferably in the banking or financial services industry.

Knowledge

• 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.
• Knowledge of principles of accounting preferred.
• In-depth 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).

  Physical Exertion

  Sedentary Exerting up to 10 pounds of force occasionally (Occasionally: activity or condition exists up to 1/3 of the time) and/or a negligible amount of force frequently (Frequently: activity or condition exists from 1/3 to 2/3 of the time) to lift, carry, push, pull, or otherwise move objects, including the human body. Sedentary work involves sitting most of the time, but may involve walking or standing for brief periods of time.

  Travel Requirement

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

  About CoBank

  The typical base pay range for this role is between $71,200 - $81,400. Compensation may vary based on individual job-related knowledge, skills, expertise, and experience. This position is eligible for a discretionary annual incentive program driven by organization and individual performance.

  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.