Assistant Manager - Forex Trade - CA

Position: Forex Trade Assistant

Reports to: Forex Head

Base location: Bangalore, India

Job Description:

- Forex Trade Assistant is required to work on mainly Forex Hedging related activities and is a part of Global Forex desk of ETG. This role requires close working with the all Treasury teams, Country Finance Controllers spread across various geographies. The profile requires sound knowledge of Financial Markets, ability to execute trades at best available prices, information about markets movements and ability to take FX covers sometimes in highly volatile environment

- The ideal candidate should have prior exposure to markets in terms of dealing in various currencies and commodities, ability to identify FX exposure from different components and take prompt action. The candidate need to have good understanding of Marco economic factors like GDP, Interest rate movement, Inflation, Current Account flows and how these factors affect Currencies, Equities commodities markets. He needs to keep himself abreast with latest global developments by reading various research reports published by banks.

- The candidate is required to develop robust mid-office and back-office reporting sheets for all FX transactions. He/She should provide timeline reports to various internal stakeholders such as Risk, Commodity desks and Finance teams.

Primary responsibilities:

DAILY:

1. Tracking Forex exposure from countries/ERP/Treasury

2. Arriving at hedge-able versus non-hedge able exposure.

3. Discuss with Trader/Country F.C. to arrive at net amount and tenor for FX covers

4. Checking rates with banks, negotiating hard for competitive pricing and then close at the best price available

5. Deal on Online Trading platforms, wherever possible

6. Updating Outstanding hedges file on Real time basis

7. See if any hedge is maturing. Discuss with stake holders on delivery/Cancellation/Roll-over of the hedge

8. Prepare and circulate summary report of all deals concluded during the day

WEEKLY:

9. Weekly exposure tracking country-wise from Risk packs

10. All hedges taken versus exposure check - every Friday

MONTHLY:

9. Monthly exposure tracking from country MMRs

10. Getting MTM reports from banks for open hedges

11. Prepare MIS reports for management

Education qualification and desired experience:

Probationary Officer Bank / CA

2-6 years of experience in Forex Markets (working in Banks/Corporates)

Skills required:

o Fundamental and Technical knowledge about Currency market

o Managing foreign currency exposure risks of the bank/corporate

o Implementation of Risk management policies for foreign exchange related risks

o Knowledge and understanding of International Foreign Exchange market

o Knowledge of Exposure Tracking and maintaining prescribed hedge ratio as per Fx policies

o Knowledge about FX instruments like Spot, Forwards, Options, Swap and their pricing

o In-depth knowledge about Macro economic factors like GDP, Inflation, Capital flows, Unemployment rate, Forex Reserves etc.

o Negotiation Skills for improved rates from banks

o Ability to use Reuters/Bloomberg/Ticker and Online Trading platforms

Behavioural competencies:

- Strong analytical and rational skills

- Positive attitude and ability to understand complex transactions

- Quick learner and able to grasp business knowledge

- Good communication skills and a team player

Travel:

- Only at initial stage, later infrequently

Compensation:

Competitive (depending on the level of experience)