Forex Manager

Responsibilities

• Currency Trading: Conduct trades in the foreign exchange market to purchase and sell currencies for the organization or clients. This includes analyzing market trends, economic indicators, and geopolitical events to make well-informed trading decisions.
• Risk Management: Develop and implement strategies to manage risks associated with currency fluctuations and reduce potential losses. This may involve utilizing derivatives like forwards, options, and swaps to safeguard against unfavorable exchange rate movements.
• Liquidity Management: Monitor liquidity requirements and ensure sufficient funds are accessible in different currencies to sustain the organization's activities and financial commitments.
• Compliance: Keep up to date with regulatory standards and guarantee that all foreign exchange transactions adhere to applicable laws and regulations, including anti-money laundering (AML) and know-your-customer (KYC) protocols.
• Client Management: Establish and sustain relationships with clients, offering them advice and assistance on foreign exchange issues. This may involve presenting tailored solutions to meet their specific currency risk management requirements.
• Reporting and Analysis: Generate regular reports on foreign exchange positions, trading operations, and performance indicators. Conduct comprehensive analysis to detect trends, evaluate risk exposures, and assess the effectiveness of trading strategies.
• Team Leadership: Supervise and guide a team of forex traders and analysts, giving direction on trading tactics, risk management methods, and market advancements. Cultivate a cooperative and high-performance atmosphere within the team.
• Technology Utilization: Harness technology tools and trading platforms to execute trades efficiently, monitor real-time market shifts, and access pertinent market information and analysis.
• Continuous Learning: Stay informed about developments in the foreign exchange market, including currency rate variations, central bank policies, and global economic trends. Persistently refine trading approaches and adapt to evolving market conditions.
• Communication: Effectively communicate with internal stakeholders, such as senior management, finance teams, and other departments, to provide updates on foreign exchange activities, risk exposures, and performance.

Role Overview

In this position, your main responsibilities involve executing FX Confirmations and Settlements according to outlined SLAs. The role also encompasses risk management, addressing escalations, resolving queries from reconciliation and investigation teams, and updating static information.

Key Duties

• Providing Subject Matter Expertise (SME) Support to team members
• Managing a team of approximately 8-10 associates
• Conducting monthly one-on-one sessions with associates
• Performing semi-annual and annual performance evaluations of associates
• Ensuring procedural compliance in transaction processing
• Achieving targets in alignment with SLAs
• Ensuring transaction quality meets predefined standards
• Identifying and implementing process enhancements
• Generating daily process reports
• Creating process dashboards and MIS reports
• Adhering to process governance procedures
• Complying with internal and external risk protocols
• Providing process training to enhance team performance
• Collaborating with Static data team, Settlements, Traders, and clients to maintain accurate processing information
• Resolving daily exception accounting report items
• Demonstrating strong organizational skills to manage daily tasks efficiently and accurately under pressure
• Effective communication and timely escalation to local and onshore teams

Qualifications

• Education: B.Com / MBA (Finance)
• Certifications: NCFM certification is advantageous
• Experience: Minimum 1-3 years of team management experience, 12-13 years in investment banking or financial services

Essential Skills

• Effective people management capabilities
• Proficiency in Investment Banking operations, FX, and Derivatives
• Thorough understanding of trade life cycle processes
• Excellent verbal and written communication skills with strong interpersonal abilities
• Demonstrated leadership, operations management, and people management proficiencies
• Ability to work with precision under pressure and prioritize tasks
• Experience in liaising with Clients, Front Office, and trading desk
• Familiarity with derivative products in capital markets and prior exposure in derivatives settlement
• Prompt escalation of critical risks and non-compliance against policies

Desired Skills

• Familiarity with various market products across multiple asset classes
• Sound knowledge of FX, Money Market, and Derivatives Products. Acquainted with FX, OTC trade processing and associated risks and controls
• Proven track record in execution and timely delivery
• Ability to work collaboratively across teams and locations to achieve objectives efficiently