Foreign Exchange (FX) Officer at Stanbic IBTC Bank

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.

The Operations division of Standard Bank is at the very centre of all the bank’s procedures, enabling and optimising our Corporate and Investment Banking activities. We develop prototype concepts into robust, reliable solutions, constantly evolving our existing product range to help the bank maintain a competitive lead with our global clients. We are also in demand as internal consultants to the business, helping to manage the Bank’s assets through effective risk management and control systems. As part of this role we now seek an experienced professional, who will help guide our work to fulfill our ambitious growth strategy

We are recruiting to fill the vacant position:

Job Title: Foreign Exchange (FX) Officer

Job ID: 12602
Location: Nigeria

Position Description
To support the FX Processing Manager and Head, Investor Services operations, in providing quality service to clients under custody in the areas of FX processing and Repatriations.

Accountabilities/KRA:

• Iaise with Global Market to procure FX in line with clients’ instruction to fund their account for settlement of trades
• Poactively manage clients expectations in Pocessing their FX transactions.
• Enure that the confirmation of FX processed for clients are sent in line with SLA with clients
• Prepare CCI issuance instructions on T+4 by 10:00 hours and submit to IBC
• Follow up with IBC to collect hard copy of CCIs issued and file accordingly
• Regularly update and maintain the CCI register
• Escalate late and non receipt of funds, post settlement.
• Liaise with Global Market to procure FX and timely repatriate same in line with clients’ instruction
• Proper filing of documents and general administration
• Daily reconciliations of clients’ CCIs issued and utilized.
• Markdown of CCIs for utilization during FX repatriations by clients
• Timely response to all service and operational issues/queries relating to FX processing and CCI administration
• Daily call over of all FX inflows by clients and ensure that CCIs are issued to cover the inflows
• Daily call over of all FX outflows by clients and ensure that the related CCIs are properly and correctly marked down
• Prepare and submit weekly and monthly reports on all outstanding FX issues
• Prepare and submit weekly and monthly reports on all outstanding CCI issues and their status
• Daily monitor of clients account for re-investments and proper updating of clients’ CCI.

Required Skills and Qualifications
Qualifications

• University degree
• Market Relevant Qualifications

Required Competencies
Thinking Requirement/
Work Complexity:

• Ability to understand the Nigerian stock market
• Capacity to deal with diverse mix of clients
• Provide clients with prompt response to their queries
• The essential requirement of this job function is timeliness. Clients must be kept happy with timely service.
• Prompt, efficient and effective customer service cannot be compromised.
• Understanding the settlement mechanism
• Must have the ability to work under pressure

Personal Competencies:

• Must be able to analyze issues and make sound /rational decisions
• Must be able to discharge duties with due diligence and care

Interpersonal Competencies:

• Must have good listening skills
• Must have ability to effectively communicate, both verbally and in writing

Application Closing Date
24th April, 2014

Method of Application
Interested and qualified candidates should:
Click here to apply online