Trade Finance Services Specialist II (Standby Letter of Credit) - Scranton, PA
Scranton, Pennsylvania
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Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
This job is responsible for performing a variety of technical and analytical functions related to trade financing and servicing. Key responsibilities include researching, analyzing, auditing, tracing, and resolving trade documents that require specialized, sensitive, or exception handling. Job expectations include evaluating acceptances, issuances, amendments, and negotiations for import and export, standby and government letters of credit, and bankers acceptances related to trade financing.
Responsibilities:
Performs a variety of technical and analytical functions related to trade financing and servicing. Responsibilities include researching, analyzing, and resolving trade documents that require specialized, sensitive, and/or exception handling; evaluating acceptances, issuances, amendments, and negotiations for import/export, standby and government letters of credit and bankers acceptances; reviewing, analyzing and negotiating letters of credit documents; issuing commercial and stand-by letters of credit, amendments, transfers and requests to pay; approving payments, collections and reimbursements. Works under established operating procedures and precedents. Requires a full working knowledge of trade finance operations and documentation. Individuals typically have 3-5 years of experience with 1-3 years Trade experience preferred. Additional responsibilities can include but not limited to:
Processes transactions related to various Trade Finance products and performs support and servicing functions, such as problem resolution and exception handling for clients and business partners
Communicates complex data and information clearly and effectively to clients and business partners
Performs a variety of technical and analytical functions related to trade financing and servicing including researching, analyzing, auditing, tracing, and resolving Trade Finance documents that require specialized, sensitive, or exception handling
Manages risk by ensuring transactions are handled efficiently and proactively, identifying and escalating potential risks
Develops capabilities and competencies through self-study or participation in trainings on system enhancements
Required Skills and Experience:
Effective written and verbal communication skills
Detail-oriented with strong organization skills
Good team player, enthusiastic, flexible and committed
Ability to work under pressure, meet deadlines and navigate change and prioritize daily
Proactive approach to problem resolution
Desired Skills and Experience:
Some experience as a letter of credit or trade specialist familiar with ISP 98 and/or UCP 600, and legal and compliance regulations
Knowledge of SWIFT, wire transfers and accounting entries
College degree or comparable banking experience
Skills:
Attention to Detail
Customer and Client Focus
Adaptability
Collaboration
Prioritization
Recording/Organizing Information
Analytical Thinking
Oral Communications
Problem Solving
Research
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "Know your Rights" poster, CLICK HERE (https://www.eeoc.gov/sites/default/files/2023-06/22-088\EEOC\KnowYourRights6.12.pdf) .
View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
