FX Trader Associate at Fairmoney Microfinance Bank (Remote)

FairMoney is the leading digital lending platform in Nigeria. In 2020, we disbursed 40% more than the next competitor. We have continued to scale quickly and prudently culminating in our closing of our $42 million Series B Equity round.Due to our growth, we are scaling our Capital Markets team to further drive an ambitious local currency debt fundraising program. You will be joining an innovative and ambitious team that recently closed a Fintech Private Note with leading investment banks acting as Arrangers to the offer. We have plans to continue to offer debt investors a range of innovative solutions to enable them to provide FairMoney, a fast-growing yet prudent fintech with debt funds. This is where you come in.

We are recruiting to fill the position below:

Job Title: FX Trader Associate

Location: Remote
Job type: Full-time

About the role

• As an FX Trade Associate at Fairmoney, you will be responsible for managing FX margins and rates for our B2B Cross-Border Payments trades. 
• This role involves overseeing positive positions and maximizing trade margins, contributing to the overall profitability of the business. 
• The ideal candidate will have a strong understanding of Fintechs, treasury management, FX rates, and currency risk management tools, alongside a proven ability to handle large block trades and collaborate effectively with internal and external stakeholders.

Key Responsibilities
Execute and Match Trades:

• Handle large block trades within the market, ensuring efficient execution and matching with clients' needs

Develop and Contribute to OTC Sales Strategies:

• Play an active role in developing OTC sales strategies, guiding and driving the team on the best approach to implementing these strategies

Regulatory Knowledge and Compliance:

• Bring familiarity with deliverable FX market regulations and compliance requirements (preferred), ensuring all activities are in line with regulatory standards

Foreign Exchange Market Expertise:

• Demonstrate a strong understanding of foreign exchange markets and trading platforms (preferred), applying this knowledge to optimise trade execution

Market and Pricing Information:

• Provide internal stakeholders with daily market updates, pricing information, and forecasts to support decision-making and trading activities

Collaborate with Sales Teams and Clients:

• Work closely with Sales teams, clients, and other internal stakeholders to ensure accurate trade capture, manage risk, and provide excellent client servicing

Booking and Managing Trades:

• Accurately book trades and ensure positions are correctly reflected, ensuring minimal discrepancies in all trade processes

Discrepancy Resolution:

• Address any discrepancies related to trade bookings in a timely and effective manner, working in collaboration with the sales team and clients

Reconcile Trades:

• Reconcile the present value of trades daily with the sales team, ensuring accurate accounting for all outstanding and unprocessed trades

Compliance and Control Processes:

• Ensure compliance with trade booking, verification, and reconciliation controls, while enhancing processes for better accuracy and efficiency

Drive Scalable Growth:

• Focus on generating scalable, repeatable, and predictable trade volume, net revenue, and gross profit to support the company's growth goals

Reporting and Data Analysis:

• Analyze and present market and trade data to key internal stakeholders, informing impactful business decisions and helping adapt strategies to drive profitable growth in the region

Requirements

• Experience: Previous experience in FX trading, treasury management, or working with Fintechs is preferred
• Technical Skills: Strong understanding of FX rates, currency risk management tools, and foreign exchange market dynamics
• Knowledge: Familiarity with deliverable FX market regulations and compliance requirements (preferred), as well as knowledge of trading platforms
• Analytical Skills: Strong ability to analyze and report market data to inform business decisions and optimize trading strategies
• Collaboration: Proven experience working closely with internal teams (Sales, Treasury) and external clients to ensure accurate trade capture and risk management
• Attention to Detail: Excellent attention to detail with a focus on accuracy in trade execution, booking, and reconciliation
• Strong Communicator: Ability to communicate effectively with both internal stakeholders and clients, ensuring clear and timely information flow
• Problem-Solver: Strong problem-solving skills, with the ability to resolve discrepancies and trade issues quickly and effectively
• Results-Driven: A focus on achieving high trade margins, revenue growth, and operational efficiency, contributing to the overall profitability of the business
• Adaptable: Ability to work in a fast-paced environment with evolving business needs, market conditions, and regulations.

Benefits

• Competitive salary
• Remote work
• Training & Development
• Paid Time Off.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Recruitment Process

• A screening call with a member of the recruitment team for 30 minutes
• Technical interview with the hiring manager for 30 to 60 minutes.