A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. When you choose a career with CoBank, you make a difference by standing for something that matters. In order to be the best, we hire the best!
Remarkable Benefits Offered by CoBank
Provides strategic leadership and advanced technical expertise in overseeing the Trade Services processing team. Manages complex transaction processing related to the issuance of standby and import letters of credit, advising and confirming export letters of credit, all aspects of documentary collection processing, and negotiation/payment of standby draws. Ensures high-level customer service with particular emphasis on efficient processing and minimizing exposure to the bank. Responsible for safeguarding the bank's interests and assets associated with processing these types of transactions.
1. Develops strategic priorities, manages the overall activities of the Trade Services processing team, and facilitate/drive organizational alignment. Coordinates workflows to ensure that operating schedules are met and that processes align with organizational goals. Delegates responsibilities to staff and reviews results to ensure customer satisfaction.
2. Oversees the review process for applications submitted by customers for import and standby letters of credit and issues accordingly. Coordinates processes with customers, relationship managers, and legal counsel as needed.
3. Oversees the processing of letter of credit fees for standby and import credits, billings, and monitors and traces outstanding accounts receivable. Analyzes billing processes to ensure fees are billed correctly and performs testing of the billing module on L/C system version updates.
4. Manages the payment of standby and import letter of credit draws, documentary collections, acceptance of drafts/documents to facilitate proper document disposition, and funds management for customers and foreign correspondent banks.
5. Provides strategic back-up support to export supervisors for managing activities related to export letters of credit. Oversees the negotiation of documents presented under letters of credit (import, export, and standby) and verifies their correctness and conformity to determine compliance with credit terms and conditions. Ensures all documents are thoroughly examined for discrepancies and advises customers/foreign banks promptly.
6. Ensures accurate data entry into the automated transaction processing system for trade transactions, which creates the transaction record, calculates fees, and interfaces with the bank’s general ledger and telecommunication system (SWIFT).
7. Serves as the highest escalation point for internal and external customer inquiries. Responds to technical questions regarding import, export, and standby letters of credit and documentary collections. Consults with internal and external customers for proper letter of credit language/structure and resolves complex issues.
8. Approves and releases transactions for team members. Reviews outputs to reduce errors and prevent losses, ensuring compliance with internal controls and regulatory requirements.
9. Monitors and corrects credit management out-of-balances and clears accounts receivables. Ensures that established lines of credit in the letter of credit system are accurate as per Loan Committee approvals.
10. Manages monthly reporting of team key indicators, department statistics, and quality review. Analyzes data to ensure continuous improvement in performance.
11. Conducts regular departmental audits and identifies shortcomings in adherence to policy. Develops and monitors qualitative and quantitative standards for the team. Implements and reviews processes and internal controls, ensuring security procedures are followed for all systems.
12. Analyzes existing procedures and recommends changes to improve quality and efficiency. Updates policies and processing procedures to reflect best practices and regulatory changes.
13. Leads staff management efforts. Sets performance standards, manages workflow, grants authorities, evaluates performance, and recommends personnel actions within delegated authorities. Consults with Human Resources as appropriate.
14. Identifies department resources for training requirements and technology support. Ensures team members receive adequate training and resources to perform their roles effectively.
8 years of experience in international banking operations, with product related experience (i.e. letters of credit, banker’s acceptances and documentary collections) preferred
8 years of experience in Financial Services/FinTech Industry required
3 years of experience working in a Digital Agile Product delivery organization required
5 years of management/supervisory experience required
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. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.
Occasional Travel occurs infrequently (typically, once a month or less).
The typical base pay range for this role is between $131,100-161,300. 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.
The listed salary, other compensation and benefits information is accurate as of the date of this posting. This job will be posted for a minimum of five (5) business days or until the position is filled. CoBank reserves the right to adjust compensation for all positions and to modify or discontinue benefits programs at any time in its sole discretion, subject to applicable law.
CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 76,000 farmers, ranchers and other rural borrowers in 23 states around the country. CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.
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, including completing an application, interviewing, or otherwise participating in the employee selection 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.
CoBank is an 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.
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