Trade Finance Associate - Hybrid/Remote
Trade Finance Associate - Hybrid/Remote
Org Structure : Job Posting Location
Elk Grove Village, IL - 1650 Louis Ave
First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.
This hourly (non-exempt) position is responsible for processing all archiving functions, OFAC review, as well as other tasks as assigned relating to collections, import, export, and standby letters of credits, as well as purchase orders and accounts receivable financing based on approved government programs.
DUTIES & RESPONSIBILITES
- Verify transactions to comply with Bank policy related to Trade and Compliance, and compliance with the U.S. Treasury (including OFAC) and U.S. Commerce Departments' regulations.
- Follow up and resolve pending tickler items.
- Audit files.
- Handle incoming queries and communications from both internal and external clients.
- Send and release payment tracers, and with granted authority, approve/release the transactions.
- Retrieve, create, send, and release messages using the bank’s SWIFT system. (Upon satisfactory completion of in-house training)
- Assist team members with issuing, amending, accepting, and paying incoming and outgoing documentary collections using the Trade Operations software and following the Uniform Rules for Collections, Publication 522 (URC522).
- Assist team members with: Process advances and settlements under the CPO (Confirmed Purchase Orders), SBA (Small Business Administration) and Exim Guaranteed EWCP.
- Process air releases, collections, and steamship guarantees using the Bank’s Trade Operations software.
- Update and prepare procedure policies and job aides, as necessary.
- Conduct and complete additional assignments/projects as designated by management.
- Prior experience working with International Trade (such as banking, freight forwarder, customs house broker, or credit insurance underwriting) a plus.
- Freight forwarding experience or knowledge a plus.
- A history of academic and/or professional success with a persistent desire for professional development and a proven history of achieving results.
- Demonstrated ability to simplify sophisticated problems to identify the appropriate solution.
- Military experience preferred.
- Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to tailor the message appropriately to the audience and situation effectively.
- Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.
- Bilingual in English and another language a plus.
- Maintain credibility through professional demeanor, appearance, and presence by modeling standards appropriate to our environment and industry.
- Maintain good working relationships with internal partners by exhibiting exemplary interpersonal skills, adopting a constructive, solutions-focused approach.
- Use sound professional judgment to balance the interests of the organization and customer, understanding and using available resources to mitigate risks.
- Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.
- Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows because of system upgrades.
- Evening and weekend hours will be necessary one to two times a month, as some tasks require completion outside of normal production.