Job description
Position type: Full-time
Location: Wayne, PA
Schedule: Monday – Friday
Hybrid/Onsite
Description:
At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it’s our mission and our purpose.
The Trade Finance Associate will contribute to the development and execution of Letters of Credit and the Trade Finance line of business. The Trade Finance Associate will be responsible for developing, structuring, and executing solutions for prospects and clients by overseeing and supporting the origination, preparation, and administration of domestic letters of credit and global trade transactions on behalf of the organization’s customers.
Job Responsibilities (but not limited to):
- Assist clients and Relationship Managers on product advisory and execution whilst liaising with operations.
- Execute standby letter of credit transactions from inception to completion.
- Serve in a supporting capacity to bank customers undertaking international trade with respect to standard practices, methods of payment/collection, and required import/export and standby letter of credit documentation.
- Anticipate and identify potential risks with deal structuring, documentation, transaction geography, and in-country political climates.
- Monitor and negotiate optimal retail pricing levels with customers as well as wholesale sourcing costs with correspondent banks.
- Report regularly to the Letter of Credit Manager on the progress, potential, risks, and performance of the organization’s trade finance and letter of credit services.
- Demonstrate leadership and resourcefulness in all interactions with employees, colleagues, and internal and external customers.
- Satisfies the information requests from customers, senior management, and internal business partners in an accurate and timely manner.
- Serves as liaison with external and internal customers to increase awareness of the Trade Finance product offering and ensure understanding of the intricacies and complexities of those products.
- Works with external customers to minimize transaction risk by serving in a consultative role in recommending the appropriate Trade Finance product and deal structuring whenever possible.
- Mandate to drive and grow revenue and to build a consultative-based culture as part of the broader International Services value proposition at the Bank.
- Fulfills daily transaction processing, documentation, reporting, and administrative requirements associated with all Trade Finance and Letter of Credit products.
- Works with Relationship Managers to ensure appropriate product pricing.
- Serve as liaison with upstream correspondent banks on behalf of Bank customers.
- Maintain reporting related to standby portfolio, billing, revenue, and evergreen management. *
- Subject matter expert for the organization on Trade Finance and all associated regulatory and compliance provisions.
- Engage with bank Accounting, Credit, and Operations teams to ensure well-managed servicing and maintenance of the Trade Finance product portfolio.
Minimum Qualifications:
- Bachelor’s Degree in a related discipline with three years or more experience in the field. (Preferred)
- Experience in letter of credit structuring, international banking, working capital, cross-border supply chain optimization, and/or any related industry designations desired.
- Maintain continuous education through seminars, web events, and industry conferences to stay abreast of ever-changing industry products, strategies, trends, and regulations.
- Knowledge and understanding of trade finance and letter of credit products sold by a financial institution.
- Strong knowledge of Standby Letters of Credit-related governing rules, regulations, and standards.
- Experience with Microsoft Office Products Suite, including Excel and PowerPoint.
- Recognize, identify, and apply the appropriate product solution for letter of credit and trade finance transaction opportunities.
- Communicate effectively with Senior Management, Relationship Managers, and their customers who require Trade Finance product support.
- Work independently with minimal supervision and with minimal errors on all assigned duties.
- Prioritize assigned tasks to accommodate changing departmental needs and meet established turn-around times for all transactions.
- A big part of this role is communicating your ideas to others. You are comfortable writing and presenting your ideas.
WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at careers@ wsfsbank.com. Our Mission and Values serve as essential reminders about who we are and how we do business. WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.
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