Summary of Position: The Farm Credit East Career Development Program is designed to prepare trainees for positions in one of three different career tracks within our associations. In the credit track, trainees learn how to analyze the financial needs and requests of borrowers, assess financial position and make appropriate lending decisions. In the financial services track, trainees develop a comprehensive knowledge of agricultural financial services, while helping to provide record-keeping, payroll and tax services to our customers. The third opportunity is a career with the Crop Insurance business. Trainees work with seasoned loan officers, financial service and crop insurance representatives as they progress through their training schedule.
In the first months of their development, trainees will become thoroughly familiar with all phases of our business. As training progresses, trainees may target one track or the other as a particular interest develops. In the credit track, trainees work toward becoming an analyst, credit representative or loan officer. Following the financial services track could lead a trainee to a variety of positions that may include: farm accounting representative, farm accounting officer, tax specialist, appraiser or farm business advisor/consultant.
B.S. in agri-economics or related course of study with basic accounting credits, or a B.S./B.A. with strong farm background.
Career development trainees report to a mentor who teaches them how to develop new business, analyze customers’ financial status and repayment ability, make loan or tax decisions, determine crop insurance coverage levels with customers, close real estate and commercial loans and deliver loans and other financial services. Trainees learn to understand the importance of marketing and providing exceptional customer service to our customers – farmers, fishermen, rural residents and other agribusinesses.
The curriculum of the credit track provides trainees with an opportunity to learn a wide range of technical skills such as how to establish collection plans, develop foreclosure actions or sell acquired properties. They also learn about current land values, livestock and commodity prices, farm methods and machinery, lending and property laws, agribusiness trends and farm and rural home construction. Appraising real estate and personal property, maintaining sales registers and obtaining liens on property are included in the training curriculum. Communication and negotiating skills and new business development techniques are also an important part of the trainee’s development.
Training in the financial services track provides trainees with the opportunity to learn how to market and service financial record-keeping and tax accounts of participating customers.
Trainees will study the record-keeping training manual, work closely with a financial services mentor, market services to customers and prospects, process farm records, prepare monthly and annual reports for customers, write checks for customers and reconcile their bank statements.
In addition, trainees complete the tax correspondence course, attend tax follow-up training sessions, and take the Tax Exam. They assist with the preparation of tax returns and learn to provide other tax management services to customers. Trainees accompany their mentors on consulting visits and develop a basic understanding of credit life insurance and business consulting.
While developing their credit and financial services skills, trainees may partner with outside financial services resources such as the Internal Revenue Service, County Extension Agents, Farm Bureau, FSA, local banks and feed and machinery dealers.
Principal Accountabilities: Under full supervision, trainees learn the principles of credit analysis and the delivery of credit and financial services. They are accountable for learning the following skill sets:
· Lending: Analyzing applicants’ financial conditions, management ability, and economic trends. Trainees will also obtain accurate appraisals and security liens.
· Loan servicing: Minimizing losses through sound and timely servicing, collection efforts and timely sale of acquired property.
· Marketing: Increasing business through promotional activities and outstanding customer service. Participating in marketing activities as appropriate.
· Financial services: Delivering accurate and timely financial services including records, tax preparation, consulting and credit life insurance.
– Redwing and other accounting software: Providing accurate and timely monthly and annual reports to program participants.
– Taxes: Promoting and providing accurate and timely tax reporting and consulting for tax management and planning.
– Consulting and insurance: Counseling members on the management of their businesses and uses of insurance.
· Relationship Management: Working one on one with customers both in the office and in the field to help build and maintain strong customer relationships.
· Member relations: Delivering outstanding customer service through prompt delivery of high quality service, knowledge of farm business management and participation in farm, agribusiness and community organizations.
Students should also apply via Farm Credit East’s website: https://www.farmcrediteast.com/about-us/Careers