Trade Finance Services Specialist II (Standby Letter of Credit) - Scranton, PA

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

• 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

• 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

• Attention to Detail
• Customer and Client Focus
• Adaptability
• Collaboration
• Prioritization
• Recording/Organizing Information
• Analytical Thinking
• Oral Communications
• Problem Solving
• Research