Associate Forex & Derivatives Sales
- Recruiter
- CIBC FirstCaribbean International Bank
- Location
- Barbados (BB)
- Salary
- Competitive
- Posted
- 04 Apr 2019
- Closes
- 24 May 2019
- Ref
- 100773
- Job role
- Accountant
- Sector
- Accounting - Public practice
Associate Forex & Derivatives Sales Purpose of the Role: The Associate, Forex & Derivatives Sales is responsible for assisting the Executive Director in providing derivatives products and solutions for CIBC FirstCaribbean's clients (across all entities and Strategy Business Units (SBU). Work closely with Corporate & Investment Banking, Retail & Business Banking and Wealth Management to strategically and proactively identify opportunities and market all Forex & Derivatives Sales products (including FX, Derivatives and Structured Products) as outlined on the CIBC Capital Markets Approved product list or created by CIBC FirstCaribbean, and cover client transactions. In addition, has FX responsibility including direct management of FX sales team members (analysts) and responsibility for spot FX positions of the Bank in assigned jurisdictions and will work closely with CIBC FirstCaribbean Treasury to ensure adequate liquidity within the FX position is maintained. Provide functional support to the SBU for client activities, proactively cover existing clients, schedule regular (monthly) client visits and to manage and develop client relationship across all industries for both onshore and offshore businesses. Provide rapid and competitive pricing to Institutional, Corporate & Investment Banking, Retail & Business Banking and Wealth Management clients. Ensure all deals are within approved risk limits and captured on trading platform and working with Treasury to ensure that regulatory liquidity requirements are met. Provide remote coverage support within the regional team in the event of heavy workflow, vacations, and absenteeism. The Associate will work closely with the Director to champion new investment products and their implementation through the Material Risk Assessment Process (MRAP) to the required stakeholders and leverage CIBC's expertise where applicable. Comply with all applicable regulatory requirements and commitments including CIBC FirstCaribbean policies and practices for Compliance, Market Risk and Credit Risk ensuring they are adhered to at all times. Work closely with RMs to assist with on-boarding new clients by engaging the client. Maintain the Forex & Derivatives Sales Policies and Procedures manual ensuring that it is compliant with the Bank's guidelines. The Associate is expected to help mentor / train and develop the Analyst and Senior Analyst. Key Accountabilities: Buys and sells currency to meet client's demand and profit objectives. Solicits new business for all Forex & Derivatives Sales products to increase revenue and trading volumes. Ensures service level standards are maintained. Acts as the primary contact for all enquiries. Ensures the delivery of effective customer service, directly or through functional support of the branch network. This involves handling foreign exchange issues (resolving customer complaints) with internal and external customers; dealing effectively with customer complaints, ensuring that permanent corrective action is put in place to remove the underlying cause of each customer dissatisfaction; and providing remote coverage support within the team in the event of heavy workflow, vacations, and other absenteeism reasons. Responsible for developing aggressive marketing campaigns to grow capital market share and promote the Bank's Forex & Derivatives Sales products through synergies and alliances across business lines by working collaboratively with: The senior Forex & Derivatives Sales team and CIBC CMT partners to generate structured solutions / investments and hedging products for distribution to existing and prospective clients. CIBC FirstCaribbean's Corporate and Investment Banking Relationship Managers in identifying Forex & Derivatives Sales product sales opportunities and incorporate into effective client coverage plans and strategies. CIBC FirstCaribbean's Corporate and Investment Banking Relationship Managers identifying prospective clients and developing new relationships. Prepares monthly FX income report from source and manage FX positions: Publishes reports to show income generated by FX on a monthly basis. Preparing and monitoring the financial budget for FX. Provides monthly plan and variance tracking for FX. Continuously works with Treasury to ensure that client transactions can be covered / directionally align with short / long FX trading views. Tracks FX market share for the OpCo. Monitor and manage daily and monthly FX reports. Coordinates with Market Risk and Treasury to consolidate positions and resolve discrepancies. Works under the leadership / direction of the Director to collaborative and engage with: CIBC's Structuring Group to generate structured products for distribution to existing and prospective clients. CIBC's CSG, trading and other internal partners to generate innovative hedging solutions for existing and prospective clients and to expand CIBC FirstCaribbean's product offering in the Caribbean marketplace. CIBC's Capital Markets Group in the delivery of new capital market products and services to clients. CIBC FirstCaribbean's WB and WM Relationship Managers in identifying capital market product sales opportunities and incorporating capital market products into effective client coverage plans and strategies for both existing and prospective clients. Critical Knowledge & Skills Required: Degree in Finance or Economics / Accounting or related. Excellent knowledge and understanding of the suite of FX products and hedging solutions. Excellent analytical capabilities. Good knowledge of policies, processes and requirements of the Bank relevant to Forex & Derivatives Sales operations and compliance issues. Good problem solving, negotiating and conflict management skills. Exceptional communications skills. Naturally oriented to strive for high performance and results by being highly motivated, and goal delivery focused. Excellent interpersonal skills - can easily have a rapport with internal and external customers. Proven coaching and mentoring skills. Excellent presentation and negotiation skills to actively participate in developing and maintaining client relationships and executing transactions. Excellent organisational skills to respond to shifting priorities on different projects simultaneously. Strong mathematical, analytical and quantitative skills. Experience Required: Excellent understanding of local markets, competition, geographic, macro-economic and global factors impacting Trading activities. Operational experience 3-6 years in a trading and a sales environment. Minimum experience 3 years in a financial market. Proven experience dealing with customers in a financial market Position reports to: Executive Director, Forex & Derivatives Sales
To see the full job description please click apply.
To see the full job description please click apply.