Description:
The Director of Trade Finance leads the Trade Finance line of business within the Capital Markets department for WSFS Bank. This includes all activities pertaining to sales, structuring, operations, administration, risk management, and reporting related to the delivery of letters of credit and trade finance solutions to customers. Your primary objective will be to develop the organizational capabilities to deploy the full suite of Trade Finance products and services that differentiates the bank from its competitors in market. You will be expected to identify customers' letter of credit and trade finance needs, provide suitable solutions, and drive revenue growth for the organization. This position is expected to be the subject matter expert for the organization on Trade Finance and all associated regulatory and compliance provisions pertaining to letter of credit products and international trade practices.
Job Responsibilities:
- Oversees the development and leadership of the Trade Finance line of business to include sales, operations, administration, risk management, and reporting related to the delivery of letters of credit and trade finance solutions to customers.
- Works closely with various internal teams – bank relationship managers, wealth advisors, credit risk officers, back-office operations, finance personnel, etc. – to effectively identify, manage, and execute trade finance opportunities.
- Leads the development of policies and procedures and their subsequent implementation.
- Responsible for developing the Trade Finance line of business budget and revenue forecast on an annual basis and achieving P&L objectives for the organization.
- Reports regularly to the Managing Director of Capital Markets on the progress, potential, performance, and optimization of the organization’s opportunities with Trade Finance.
- Leads, coaches, and motivates employees through encouragement and reinforcement, to create a work environment that fosters teamwork, high morale, and retention.
- Promotes accountability with staff by conducting performance reviews, communicating expectations, and giving constructive feedback.
- Demonstrates an excellent ability to explain complex products simply to internal and external customers alike, with an emphasis on always outlining the risks, opportunities, constraints, and flexibility of those offerings.
- Participates in industry events, conferences, and networking activities to enhance brand awareness and expand professional network.
- Maintains continuous education through seminars, web events, and industry conferences to stay abreast of ever-changing industry products, strategies, trends, and regulations.
Minimum Qualifications:
- Knowledge and Experience:
- Deep expertise with international trade financing, collection instruments, and commercial documentation combined with a strong understanding of UCP600, ISP98, ISBP, URDG758 and INCOTERMS 2010 regulations and standards.
- Broad experience with all front-, middle-, and back-office requirements necessary to implement and operate a Trade Finance program, including mastery of the policy and procedure framework for the BSA/AML, Credit, Finance, and Operations functions.
- Strong knowledge of general ledger system functionality and basic accounting principles related to letters of credit.
- Proficiency in using sales CRM systems, Excel, PowerPoint and other relevant software.
- Bachelor’s Degree with seven years or more of experience in the field.
- Demonstrated life experience as a unique leader of individuals and teams.
- Comfortable growing a new business, with a proactive and entrepreneurial mindset.
- Relationship Builder - You enjoy building professional relationships. You are a great communicator - open to both learning and teaching others in order to help the business grow and do what is right for the customer.
- Must be highly ethical, positive, and intellectually curious, with strong oral and written communication skills. The ability to remain calm and operate effectively under pressure, and a high degree of organization and attention to detail are imperative.