A Fantastic Opportunity for ...
The Head of FX Solutions is a senior leadership position within Yoma Bank, focusing on foreign exchange (FX) solutions for clients. The successful candidate will need to grow the FX business by strengthening the FX Sales team capabilities and establish a strong working collaboration with Major Major Client Group, Corporate Banking, Commercial Banking, SME Banking and Trade Finance Services to constantly identify opportunities, by being adept in structuring mutually profitable FX deals for customers. The successful candidate will need to have a strong grasp of local and global FX markets with ability to bank’s top management on FX market outlook.
The individual should be able to think strategically and creatively to help increase new client acquisition, to retain existing clients and to stay competitive. Own the overall vision, strategy, roadmap, profitability, and revenue growth for the FX business.
As part of the role function, the individual is required to:
- Evolve the FX business into a fully integrated end-to-end business at the heart of clients' market risk management and business expansion activities. This includes client solutioning, settlement, and ongoing monitoring of the FX portfolio.
- Promote client first mentality to capture the clients voice and translate client and stakeholder needs into innovative and scalable client solutions. Drive client centric and differentiated acquisition and retention strategy by delivering a proposition that meets the unique requirements of businesses.
- Represent FX business in customer, prospect, and partner conversations.
- Follow market trends, competitor landscape, industry, and regulatory changes to ensure that Yoma Bank has a competitive set of market and client-facing solutions and capabilities, that are scalable and grow in sophistication as our client base expands
- Build a strong central team capable of supporting and managing the risks associated with a high growth, dynamic FX business. This includes Product and Business Management, Middle Office, liquidity, and risk management under a three line of defense model.
- Manage the FX business in full compliance with all regulations.
KEY ACCOUNTABILITIES:
Strategic Planning
Develop and execute a strategic plan for the FX solutions department, aligning with the overall goals and objectives of Yoma Bank. This involves identifying market opportunities, setting business targets, and implementing strategies to drive growth and profitability in FX-related products and services.
FX Product Development
Lead the development and enhancement of FX products and services to meet the evolving needs of our Corporate, Commercial and SME clients. This includes collaborating with internal stakeholders such as sales, trading, and technology teams to design innovative FX solutions that address client requirements and market trends.
Client Relationship Management
Cultivate and maintain relationships with key clients, including corporate clients, commercial clients, SME clients, financial institutions, and other institutions. Understand their FX needs, provide expert advice, and offer customized solutions to help clients manage FX risks, optimize liquidity, and execute FX trades efficiently.
Risk Management
Oversee FX risk management practices and ensure compliance with regulatory requirements. This involves monitoring market risks, credit risks, and operational risks associated with FX activities. Develop and implement risk mitigation strategies and frameworks to safeguard the organization's FX business.
Market Analysis
Stay updated on market trends, geopolitical events, and regulatory changes that impact the FX markets. Conduct comprehensive market analysis to identify trading opportunities, develop market views, and provide insights to clients and internal teams.
Team Management
Provide leadership and guidance to the FX solutions team, including sales professionals, traders, analysts, and support staff. Foster a high-performance culture, set performance targets, and provide coaching and development opportunities to enhance team capabilities.
Compliance and Governance
Ensure compliance with relevant laws, regulations, and internal policies. Maintain strong governance practices, oversee internal controls, and participate in audits and examinations as required.
Technology and Innovation
Collaborate with technology teams to leverage technological advancements in FX trading platforms, algorithms, and data analytics. Identify opportunities to automate processes, enhance efficiency, and improve client experience through innovative solutions.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.