Purpose of the Role:
The Senior Analyst, Foreign Exchange Sales supports the Director / Senior Manager / Manager in the overall running of foreign exchange (FX) sales and trading for the Bank’s clients (inclusive of FX settlement account) across relevant entities and strategic business units (SBUs). The incumbent works closely with Corporate & Investment Banking, Retail & Business Banking and Wealth Management to strategically and proactively market FX products and cover client transactions. The incumbent assists with client cold calling activities to originate new business and promote forex and derivative products. The incumbent provides functional support to the SBUs for client activities, proactively covering existing clients, attending scheduled regular (monthly) client visits where applicable and managing and developing client relationships across all industries for both onshore and offshore businesses. The incumbent provides rapid and competitive FX quotes to execute clients’ FX transactions. Complies with all applicable regulatory requirements and commitments including Bank policies, requirements and practices. Ensures all deals are within approved risk limits and captured on trading platform. Monitors and manages daily and monthly FX position, working with Treasury and Middle Office to ensure that internal and regulatory liquidity requirements are met. Provides remote coverage / support within the regional team in the event of heavy workflow, vacations, and absenteeism. Complies with all applicable regulatory requirements and commitments including FirstCaribbean policies and practices for compliance, market risk and credit risk ensuring they are adhered to at all times. Works closely with Corporate & Investment Banking team to assist with on-boarding new clients by engaging the client.
Buys and sells currency to meet clients’ demands and profit objectives. Grows the Bank’s client base via marketing / origination of new clients through cold calling of prospects and new client visits. Solicits new FX business to increase FX revenue and trading volumes. Ensures service level standards are maintained. Acts as a primary contact for FX enquiries in the country assigned / located.Delivers effective customer service, directly or through functional support of the branch network. This involves handling foreign exchange issues (resolving customer complaints) with internal and external customers; dealing effectively with customer complaints, ensuring that permanent corrective action is put in place to remove the underlying cause of each customer dissatisfaction; and providing remote coverage support within the team in the event of heavy workflow, vacations, and other absenteeism reasons.Develops aggressive marketing campaigns to grow FX market share and promotes the Bank’s forex products through synergies and alliances across business lines by working collaboratively with:The wider Forex & Derivatives Sales team and parent company, Corporate & Investment Banking partners to generate structured solutions / investments and hedging products for distribution to existing and prospective clients and to expand the Bank’s product offering in the Caribbean marketplace.Corporate & Investment Banking relationship managers in identifying FX product sales opportunities and incorporate into effective client coverage plans and strategies and in identifying prospective clients and developing new relationships to cross-sell FX and capital market products.Keeps abreast of market developments in jurisdiction located / assigned and supports the preparation of market commentary for edification of clients and members of other SBUs within the BankPrepares monthly FX income report from source and manages FX positions:Publishes reports to show income generated by FX on a monthly basis.Prepares and monitors the financial budget for FX.Provides monthly plan and variance tracking for FX.Works with Treasury to ensure that clients’ transactions can be covered and are aligned with short / long FX trading views.Tracks FX market share for the assigned OpCo(s).Monitors and manages daily and monthly FX reports.Coordinates with Market Risk and Treasury to consolidate positions and resolve discrepancies.
Critical Knowledge & Skills Required:
- Degree in finance or economics / accounting or related field (or 3yrs working experience in the business / financial world).
- Knowledge and understanding of FX products and hedging solutions.
- Problem solving skills.
- Good communications skills.
- Understanding of local markets, competition, geographic, macro-economic and global factors impacting trading activities.
- Experience dealing with customers in a financial markets.
- 2 years’ experience in sales / marketing activities preferably in a financial institution.
Position reports to: Director / Senior Manager, Forex & Derivatives Sales / Manager, Foreign Exchange Sales
Expiry Date: 10-10-2022