About this role:
Wells Fargo is seeking a Senior Trade Services Processor
In this role, you will:
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Provide support for processing new collections, payments, trade acceptances and tracing outstanding items
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Support performance of less experienced staff and overall effectiveness of team
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Provide all letter of credit services to customers
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Perform complex services including opening letter of credits, processing payments and informing customers of discrepancies
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Assist with distributing, reviewing work, training and guiding less experienced staff
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Provide subject matter expertise and interpretation of procedures to less experienced individuals
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Process complex, non-standard and time sensitive letter of credits
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Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals
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Interact with internal customers
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Receive direction from leaders and exercise independent judgement while developing the knowledge to understand function, policies, procedures, and compliance requirements
Required Qualifications:
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4+ years of Trade Services experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
In this role, you will:
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Responsible for supporting all Letter of Credit related transactions backed by ABL booked on Lucas and Choice SORs.
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Review incoming import letters of credit applications of ABL & Factoring customers, ensuring accuracy, credit criteria are met and adherence to established guidelines.
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Verify the authenticity and completeness of letter of credit documents and related information.
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Review and prepare documents for new issuances and amendments, process Import LC discrepancy notices, perform reconciliations.
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Prepare manual Journal Vouchers for accounting entries as applicable.
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Post L/C details in ledger and expiry dates for L/Cs issued in our favor.
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Review cash clearing open items and resolution within corporate policy.
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Support performance of less experienced staff and overall effectiveness of team
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Provide feedback and present ideas for improving or implementing processes and tools within Loan Servicing functional area
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Perform administrative, transactional, operational, or customer support tasks
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Resolve complex client problems and inquiries
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Provide subject matter expertise and interpretation of procedures to less experienced staff
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Use independent judgment to review and file claims while ensuring compliance with all federal, state, client and company policies, procedures, and regulations
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Participate in regional or team meetings, and provide guidance and training to less experienced individuals
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Assure compliance with contractual obligations regarding reporting and other aspects
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Ability to process the request within established deadlines as per the procedures and without errors
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Flexibility towards contributing on different processes & assignments
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Collaborate effectively with various teams as required and be an active participant
Job expectations:
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Shift timing: 6.30 PM - 3.30 AM OR 8.30 PM - 5.30 PM OR 1.30 - 10.30 PM
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Should be fine with Rotational Shift if required. Yes
Posting End Date:
9 Mar 2025
*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
