Head of FX Sales

Role       : Head of FX Sales
Location : Dubai                            
Role Purpose:
To achieve Business Banking FX revenue targets through cross selling to existing relationships as well as to solicit new to bank customers requiring majorly foreign exchange services while ensuing service delivery to these clients through liaising with various intra-organizational departments.

• To manage a team of FX Mangers who are engaged in management of a portfolio of the designated clients & RMs.

    
Key Accountabilities of the role      
Key Result Area:

• Drive FX revenue via cross selling to existing the new-to-Bank customers in the Business Banking
• Formulate business plans and key initiatives of the department to ensure that business goals and set targets are met.
• Deliver agreed revenue umbers through ensuring extension of funded / non-funded based facilities, FX / remittance transactional volume, Margin trading, Forward contracts, Futures and options and exchange.
• Work with Analytics & Develop and implement client campaigns to drive tressury sales. 
• Work with finance to ensure end of month financial reports are accurate and complete.
• To work closely with all product and channel partners from RBG & TCM so as to maximize opportunities provided through regular contacts, feedback and coordination and cross referrals.
• Ensure professional growth and support of the FX specialist team.
• Develop systems and channels that proactively solicit / manage businesses which meet agreed risk-reward parameters of the unit.
• Implement governance system to monitor all outstanding dals on Spot and Cash transactions to ensure intra day risk is managed within the set limits.
• Write and follow up on credit proposals for all forward deals.
• Ensure product profitability via spread maintenance and volume growth across Business Banking

• Operating Environment, Framework and Boundaries, Working Relationships:
• TCM
• Operations
• Risk Review
• Area Manager & Segment Heads

External:

• Direct customer contact for FX transactions
• Constant information to keep track of market situation.

Problem Solving:

• Day to day focus on training, mentoring to BBD Frontline. 
• Understand and analyze customer behavior / needs from market data and competition.
• Manage employee engagement, motivation, and attrition issues.
• Provide overall direction, guidance, and support to Liabilities & Cash Management teams.
• Ensure intersegment RM disputes related to the product and mediated.
• Ensure customer penetration and product diversification is effective and appropriate for the strategic goals of the segment and product.

Decision Making Authority & Responsibility

• Judgement is exercised daily on credit assessments, which would impact revenues / credit losses for the Bank.
• Ability to supervise, direct and motivate the FX Manager  team to ensure optimal productivity and performance.
• Ability to immediately make decision on urgent customer request based on the current facts at hand.
• To oversee the relevant facility approvals submitted by FX specialist as the client’s Forex needs and worthiness.
• To ensure compliance requirements are adhered to by the FX specialist team, in line with KYC, AML, and account reviews high value transaction monitoring, STR escalation.
• Ensure all procedures and SOP’s are effective in servicing customers and management of product risk.
• Recommend and finalize training documents.
• Pricing delegation as per agreed matrix for customer pricing.

Previous experience:

• At least fifteen (15) years' post qualification experience in the Financial Industry
• A minimum of five (5) years' experience in a senior management role in a banking institution.
• A deep understanding and knowledge of the UAE market.