When position brings advantage (5)
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I believe the answer is:
asset
'advantage' is the definition.
(I've seen this before)
'when position' is the wordplay.
'when' becomes 'as' (eg 'when I walked' means 'as I walked').
'position' becomes 'set' (set is a kind of position).
'as'+'set'='ASSET'
'brings' acts as a link.
(Other definitions for asset that I've seen before include "Someone or something of value" , "Plus point" , "Something of value, worth having" , "Item conferring advantage" , "Boon" .)