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Trade Finance Services Specialist
2 weeks ago
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. In Canada, Bank of America has a strong market position on which to continue to build, as well as a clear commitment to the market.
'The Canada Trade Finance Operations team performs a variety of support functions related to Trade Finance servicing by following established practices and procedures. The team handles all instruments in support of Trade Finance transactions across all products along with outreach to clients, as required. Products supported include Import/ Export Letters of Credit, Standby Letters of Credit/Guarantee, Documentary Collections, Supply Chain Finance. In addition, the team provides guidance and support to Sales, Clients, Credit, Product and Global Trade Partners. The incumbent is mainly responsible for supporting the end to end processing of Trade Finance products/transactions, servicing for products supported and ad hoc requests from business partners providing a high level of internal and external collaboration across groups. May be required to support ad-hoc requests, projects and initiatives as required and support User Acceptance testing. May be required to work weekends in support of production check out requirements. Ability to support cross functional departments in Treasury operations.
**Responsibilities**:
- Adhere to Service level objectives for Global Trade Operations in processing trade transactions related to Standby Letter of Credit /Guarantee, Import/Export Letter of Credit, Supply Chain Finance, Prime Revenue and Collections including billing and receipt of fees in accordance with established timeframes and transaction limits.
- Must display initiative, be highly customer oriented, be a team player, flexible and committed to the success of the team.
- Ability to work effectively supporting multiple products daily across multiple time lines.
- Provide value-added, effective and efficient operational support to clients, and business partners.
- Participate in client/new business conference meetings and provide expertise and recommendations on trade instrument structure and processing procedures.
- Complete transactions with accuracy and efficiency.
- Support other team members, as required.
- Meet tight deadlines on deliverables.
**Requirements for the role**:
- Minimum 5 years of experience working in Trade Finance with proven results handling Standby Letter of Credit/Guarantee, Import and Export Letter of Credit and Supply Chain Finance.
- Working knowledge of trade related products, services, processes and the Bank’s Anti-Money Laundering and compliance policies and procedures
- Thorough knowledge and understanding of UCP600, URR725, ISBP745, ISP98, URDG758 and other related ICC Rules and publications governing Letters of Credit
- Strong interpersonal, superior customer service, communication, time management and problem solving skills
- Willingness to learn and take on new tasks, as required
- Complete transactions with accuracy and efficiency.
**Other Qualifications**:
- Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
- Excels in working among diverse viewpoints to determine the best path forward
- Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner
- Commitment to challenging the status quo and promoting positive change.
- Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
- Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world
- Demonstrated initiative and the ability to work with mínimal supervision
- CDCS (Certified Documentary Credit Specialist) designation preferred.
**What Bank of America Offers**
Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.
Bank of America places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.
**Bank of America is an Equal Opportunity Employer.**
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