Tm Forex

**Designation**:Staff

**Updated**:January 08, 2025

**Location**:Maharashtra, India

**Organization**:Cement

**Job Purpose**:
Booking Currency Forward Contract with Banks as per the given mandate.

Contract utilization and fixing spot prices for payment of imports, services and receipt of export proceeds.

Tracking technical charts and daily movement calls by forex dealers and accordingly framing daily coverage strategy / order levels.

Preparing various daily, weekly and monthly hedging status reports and coordinating with back office for position reconciliations and counter confirmations with banks.

**Job Context & Major Challenges**:
Job Context:
Forex dealing is a dynamic work area with multiple volatile currencies to track and end number of global and domestic factors affecting the movement. Every effort and even small improvements in deal levels, adds to the bottomline of the organisation. The Dealer is expected to be dynamic and sharp while tracking markets and booking forward contracts with Banks Forex desk.

Job Challenge:
In a fluctuating market of currencies, deciding the strike levels for daily hedges is the biggest challenge for any Forex Dealer. One always runs a risk that even intra day movement may turn his deals bad on the same day of execution, while reviewer will be judging the performance in hindsight against day end benchmark.

Market always have some imperfections in the forward premia curve, bid-ask range and spot settlement references (TOM / NXT). The incumbent is expected to be sharp in identifying the best alternate and opportunity offered by the market.

**Key Result Areas**:
**KRA (Accountabilities) (Max 1325 Characters)**

**Supporting Actions (Max 1325 Characters)**
- KRA1
- Booking Currency Forward Contracts with Banks as per the given mandate.
- Booking Forward Contracts in Dollars, Euro and other exposure currencies to cover imports and exports.
- Ensuring coverage within the mandated range on a daily basis. Endavouring for best optimization from the mandated levels.
- Negotiating on Forward premia for best strike in the bid -ask range.
- KRA2
- Contract utilization and fixing spot prices
- Taking reporting of daily payment of Imports, services and exports realisation from Trade Finance team, Accounts team and Exports department.
- Identying earmarked forward covers, advising bank for utilisation against reported payments and negotiationg early delivery premia refunds.
- Fixing spot prices for immediate reportings and small value payments, against which no contracts are there. Negotiating on Spot-Tom and Tom-Next levels and optimizing from bid-ask range.
- KRA3
- Tracking markets and getting updates from Bank Analysts, Forex Dealers
- Reading daily updates, Views and technical charts from Banks and Analysts, speaking daily to Forex dealers for taking updates on market and key events.
- Filter inputs, frame a view on expected daily movement range, discuss with the manager and obtain mandates for open position coverage.
- KRA4
- Prepare reports and reconciling with Back office
- Preparing daily dashboards of coverage and open positions, preparing weekly and monthly MIS reports.
- Banks independently report booked contracts to back office. Forex dealer has to submit transactions from his side. Back office will be doing the reconciliation and issuing counter confirmations to Bank.
- Resolving any discrepancies with the Bank.

**Qualifications**:
Bcom Accounts - Honours

**Minimum Experience Level**:
3-6 Years

**Report to**:
Manager