Forex Specialist
Listing reference: capbw_000044
Listing status: Closed
Apply by: 25 January 2022
Position summary
Industry: Banking
Job category: Banking, Finance, Insurance. Stockbroking
Location: Windhoek
Contract: Permanent
Remuneration: TBA
EE position: No
Introduction
Responsible to closely work with Wealth Mangers, be up to date with and be able to provide client investment advice. Responsible for providing a relationship based on forex products to high net worth affluent individuals with day-to-day foreign exchange/Excon related matters.
Job description
Key Performance Areas (KPAs)
Market new International business for CPW by ensuring that the actions mentioned below are followed:
· Market services and products of IBS by contacting existing and potential clients at times in conjunction with the relevant Private Banker(s) and wealth managers.
· Ensure that proper Excon procedures are followed (Specialist)
· Establish and build knowledge and understanding of forex product processes to ensure acceptable turnaround times. (Specialist)
· Interact frequently and build strong internal working relationships with fulfilment colleagues, treasury, IBS and the forex branches.
· Keep Private bankers/wealth managers informed on progress made on forex matters
· Follow through promptly on instructions given by private bankers and wealth managers
Problem Solving and Decision making
· Identify potential forex challenges and opportunities and generate possible solutions within the Excon guidelines
· Research total potential customer relationship with bank, CAM as well as the value sphere of influence of the high net worth individual when solving problems and suggesting solutions.
· Asses situations quickly and take initiatives within limits of authority and seek assistance from treasury timeously.
· Monitor forex trends /changes in local and international markets and changes in customers behaviour to identify opportunities and potential challenges that require a rapid response.
Administration Part
· Handling applications related to Outward Payments, etc. with subsequent following up where necessary.
· Screening of all prospective clients before subsequent opening of accounts
· Handling applications for CFC / OFC accounts and the opening BG accounts
· Scrutinising applications for correctness and compliance to Excon.
· Responsible to assist the other CPW branches with their Forex/Excon related enquiries Negotiation of exchange rates with clients/ Treasury – where applicable
· Ensure that applications are processed on date of receipt
· Maintaining and updating records of CPW Contract Workers
· Sending out and follow-up CPW import letters
· Handling of queries relating to foreign transfers
· Ensure all current and new CFC / OFC accounts are FIA compliant.
· Monitor Discretionary allowances on CPW clients
· Assisting clients with endorsement of F178’s
· Assisting CPW clients with form NEP’s
Minimum requirements
Skills and Knowledge required:
- 4 Years’ experience in an international commercial environment
- Extensive Sound knowledge of all international products and exchange control
- Extensive Selling and marketing skills
- Self-confidence and interpersonal skills
- Computer literate
- Understanding high net worth individual culture, profile and forex needs.
- Understanding which trade product will mostly be required by the client which will be beneficial for the client and profitable for the bank.
- Fully conversant with Exchange Control Rulings / Regulations
- FIA Compliance
Qualifications
- Grade12
- Diploma or Bachelors Degree in Business Administration/ Finance
