The ForEx Division Head is responsible for building, managing and growing the company's foreign exchange business by driving transaction volume, revenue, profitability through effective FX pricing, currency sourcing, distribution channels and customer solutions.
The position is responsible for leading and overseeing the overall ForEx trading operations of the company, including the strategic management of ForEx buying and selling activities, trading performance, market risk exposure, and partner relationship management. The position is also responsible for ensuring effective execution of trading strategies, compliance with regulatory and internal controls, optimization of foreign exchange opportunities, and sustainable growth of the company's Forex business operations and partnerships.
The role owns end-to-end ForEx business performance ensuring competitive rates, strong customer experience, operational excellence, regulatory compliance and sustainable growth.
Duties & Responsibilities
A. Business Strategy & P&L Ownership
- Develop and execute the forex business-to-customer and business-to-business strategy that aligns with company growth objective
- Own ForEx revenue, transaction volume, gross margin and profitability targets.
- Identify growth opportunities across retails, corporate, digital and partnership channels
- Establish business plans, budgets and performance metrics.
B. Forex Trading and Market Operations
- Leads and oversees the overall ForEx trading operations covering buying and selling desk activities of the company, including the management of all
- Formulates and implements trading strategies aligned with market trends, liquidity requirements, profitability objectives, and approved risk appetite.
- Monitors global foreign exchange markets, economic indicators, geopolitical developments, and financial trends affecting currency movements and trading opportunities.
- Reviews and valuates technical analysis, market research, trading signals, and currency position recommendations prepared by the trading desks.
- Ensures compliance with company trading policies, approved trading limits, regulatory requirements, and internal control standards.
- Oversees trading exposure, currency positions, spreads, and profitability to minimize risks and optimize returns.
- Reviews and approves significant trading activities, escalated transactions, and strategic currency positions within authorized limits.
- Ensures timely and accurate generation, consolidation, and submission of ForEx trading reports, market updates, and management reports.
- Coordinates with treasury operations, ForEx back-office support, compliance units, and partner institutions to ensure smooth execution and settlement of transactions.
- Identifies opportunities for process improvements, trading efficiency enhancement, and automation of ForEx trading operations.
- Keeps abreast with developments in foreign exchange markets, trading technologies, regulatory issuances, and industry best practices.
C. Partnership and Business Management
- Develops and executes strategic initiatives to expand the company's ForEx trading business, partner network, and client base.
- Oversees the sourcing, accreditation, onboarding, and relationship management of local and international ForEx partners, correspondent entities, and financial institutions.
- Leads high-level negotiations and business discussions with partners regarding trading arrangements, pricing, transaction terms, and business opportunities.
- Ensures proper coordination with AML, Compliance, Legal, and related support units for partner accreditation, KYC requirements, and regulatory due diligence.
- Establishes performance standards, operational objectives, productivity targets, and service levels for the Forex Trading Division.
- Leads the preparation and monitoring of the division's plans, programs, budget, and operational targets.
- Represents the division during management meetings, strategic discussions, audits, regulatory reviews, and partner engagements.
D. Management Leadership
- Finalizes plans, programs, budget, and performance targets of the division.
- Plans, directs, and coordinates all activities in the department to reach maximum level of employee productivity throughout the workforce.
- Provides upfront leadership in supervising all direct and indirect reports and planning for their career advancement and aspirations.
- Supervises and evaluates the performance of all direct reports.
- Approves/schedules all vacation leaves of all direct reports.
E. Others
- Participates actively in meetings, training programs, and other professional development work.
- Makes recommendations on matters pertinent to business operations and other related activities.
- Performs other related duties as assigned.
Qualifications
Education: Graduate of any four-year course; preferably in Business Administration, Finance, Economics, or a related field. Postgraduate studies or relevant professional certifications are an advantage.
Experience(s): At least 10 years of work experience in Forex Trading treasury operations, or financial markets, with at least five (5) years in a managerial capacity
Proven track record in translating business strategy into operational programs and seeing them through to measurable results. Substantive background in customer service management within financial services environment.
Specific Knowledge: Solid working knowledge of BSP regulations governing retail foreign currency exchange and money changing (MFCA, Manual of Regulations for Non-Bank Financial Institutions).
Strong familiarity with AMLA compliance requirements and KYC documentation standards for forex transactions. Basic proficiency in MS Office tools.
Language Proficiency: Fluent in Filipino and English — able to communicate clearly and professionally at both the branch team level and in management and cross-functional settings
