SQL Agent unable to create unc directories

Hi,

So, I am running into a snafu for the shared folder. The user has full rights on the share, I even logged onto a computer with that user and tried doing folder manipulations

If I launch a command line as the replication user, and try to run the snapshot, it works, it creates the folder and the snapshot:

C:\Windows>set u
USERDNSDOMAIN=DOMAIN.LOCAL
USERDOMAIN=DOMAIN
USERNAME=sqlrepltest
USERPROFILE=C:\Users\sqlrepltest

C:\Windows>"C:\Program Files\Microsoft SQL Server\110\COM\snapshot.exe" -Publish
er [DT-SVT-SQL-02] -PublisherDB [iTRANS] -Distributor [DT-SVT-SQL-02] -Publicati
on [ITRANS] -ReplicationType 2 -DistributorSecurityMode 1
2015-05-19 19:05:14.30
2015-05-19 19:05:14.30 Microsoft (R) SQL Server Snapshot Agent
2015-05-19 19:05:14.30 [Assembly Version = 11.0.0.0, File Version = 11.0.5058.0
((SQL11_PCU_Main).140514-1820 )]
2015-05-19 19:05:14.30 Copyright (c) 2008 Microsoft Corporation.
2015-05-19 19:05:14.30 The timestamps prepended to the output lines are expresse
d in terms of UTC time.
2015-05-19 19:05:14.31 User-specified agent parameter values:
2015-05-19 19:05:14.31 --------------------------------------
2015-05-19 19:05:14.31 -Publisher DT-SVT-SQL-02
2015-05-19 19:05:14.31 -PublisherDB iTRANS
2015-05-19 19:05:14.31 -Publication ITRANS
2015-05-19 19:05:14.31 -ReplicationType 2
2015-05-19 19:05:14.31 -Distributor DT-SVT-SQL-02
2015-05-19 19:05:14.31 -DistributorSecurityMode 1
2015-05-19 19:05:14.31 --------------------------------------
2015-05-19 19:05:14.31 Connecting to Distributor 'DT-SVT-SQL-02'
2015-05-19 19:05:14.47 Parameter values obtained from agent profile:
2015-05-19 19:05:14.47 ---------------------------------------------
2015-05-19 19:05:14.47 -BcpBatchSize 100000
2015-05-19 19:05:14.48 -HistoryVerboseLevel 2
2015-05-19 19:05:14.48 -LoginTimeout 15
2015-05-19 19:05:14.48 -QueryTimeout 1800
2015-05-19 19:05:14.48 ---------------------------------------------
2015-05-19 19:05:14.48 Validating Publisher
2015-05-19 19:05:14.50 Connecting to Publisher 'DT-SVT-SQL-02'
2015-05-19 19:05:14.53 Publisher database compatibility level is set to 110.
2015-05-19 19:05:14.53 Retrieving publication and article information from the p
ublisher database 'DT-SVT-SQL-02.iTRANS'
2015-05-19 19:05:15.16 [0%] Preparing table '[dbo].[cert_issuer]' for merge repl
ication
...
...

Now, if I try the same thing from SSMS:

Executed as user: domain\sqlrepltest. The replication agent encountered a failure. See the previous job step history message or Replication Monitor for more information.  The step failed.

previous step:
2015-05-19 19:03:05.02 Source: Replication
2015-05-19 19:03:05.02 Exception Type: Microsoft.SqlServer.Replication.ReplicationAgentException
2015-05-19 19:03:05.02 Exception Message: The replication agent failed to create the directory '\\domain.local\GlobalShares\ReplData\Test\unc\DT-SVT-SQL-02_ITRANS_ITRANS\20150519150243\'.
2015-05-19 19:03:05.02 Message Code: 52026

The user domain\sqlrepltest has:

* db_owner on distribution and the aimed database

* ability to trace

What did I miss ?

Best regards,

Olivier