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
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

  • Grade12
  • Diploma or Bachelors Degree in Business Administration/ Finance

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