Trade Finance Services Representative – Bank of America


  • Full Time
  • Anywhere

Company: Bank of America

Position: Trade Finance Services Representative

Location: Toronto, ON

Description: The Trade Finance Services Representative of the Canada Trade Operations team performs a variety of typically non-routine support functions related to trade finance servicing by following established practices and procedures.

Typical job activities include: reviewing, tracing, processing and researching trade finance documents, outstanding payments, amount discrepancies, unpaid items and Letters of Credit renewal/maturity files; investigating and resolving customer inquires; processing specialized trade finance transactions such as letters of credit for Import, Export, Standby/Guarantees and Documentary Collections, amendments, acceptances, reimbursements and advises, processing payments; reconciling and balancing letters of credit fees, liabilities, posted items; preparing and recording issuances, amendments, stand-by letters of credit, negotiations, and related trade finance correspondence.

Problems encountered are of substantial variety and complexity requiring research to resolve. The successful candidate will ensure client expectations are met at all times. This position will potentially be required to work some weekends, as required.

Key Responsibilities:

  • Adhere to service level objectives for Global Trade Operations in processing trade transactions (Import Issuance/Acceptance/Payment; Export LC Advising/Confirmation/Acceptance/Payment; Process Documentary Collections/Payment, related fees for services)
  • Main input processor for inputting names into database tool for screening against AML Compliance requirements for Trade Finance transactions. Monitor the mailbox related to the database process.
  • Liaise between other dept/unit leaders and employees as required in processing transactions
  • Remove LC transactions off the system promptly after expiry.
  • Complete transactions with accuracy and efficiency
  • Prepare courier and mail packages
  • Scan all documents related to job functions promptly, as required.
  • Support other team employees as required
  • Solid working knowledge of UCP600 and other related publications governing letters of credit preferred.
  • May help with processing fees and booked into revenue
  • Meet deadlines on deliverables
  • Monitor email on a regular basis throughout the day and acknowledge receipt, providing periodic updates until resolved
  • Complete deposit of cheques/funds received and process entries timely
  • File, and send files to offsite storage and maintain storage records

Skills and Qualifications:

  • One to three years of experience working in Trade Finance Operations with a financial institution with main responsibilities supporting Import Issuance/Acceptance/Payments and Export LC
  • Advising/Confirmation/Acceptance/Payment, Standby LC knowledge an asset and related billing of services.
  • Working knowledge of GBS (Global Banking System) an asset
  • Working knowledge and understanding of the Uniform Customs and Practices for Trade Finance processing UCP600 and other related publications governing letters of credit
  • Strong accounting skills
  • Strong people and customer service skills
  • Proven track record in independent handling of initiatives or ad hoc tasks (Assisting with User Acceptance testing for any changes that require testing prior to production roll out)
  • Proficiency with Excel, Word, GMX/SWIFT Alliance systems with strong keyboarding skills
  • Excellent communication and problem solving skills
  • Demonstrated initiative and the ability to work with minimal supervision
  • Team player with demonstrated leadership skills
  • Ability to meet established deadlines in a fast paced environment
  • Willingness to learn and take on new tasks, as required
  • Availability to work some weekends for user acceptance testing or contingency check out testing, as required
  • Post-secondary education an asset

Apply now


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