Forex Sales

Key Responsibilities

1. Forex Remittance Operations Management

• Supervise inward and outward remittance transactions.
• Ensure accurate processing of TT (Telegraphic Transfers), demand drafts, wire transfers, and currency exchange transactions.
• Monitor daily transaction volumes and reconcile branch reports.
• Ensure timely settlement with partner banks and correspondents.

2. Regulatory & Compliance Oversight

• Ensure compliance with central bank regulations (e.g., FEMA guidelines where applicable).
• Oversee AML (Anti-Money Laundering) and KYC compliance processes.
• Monitor suspicious transaction reporting (STR) and regulatory filings.
• Ensure adherence to licensing conditions for AD Category 2 operations.

3. Risk Management & Controls

• Implement internal controls to minimize fraud and operational risks.
• Monitor transaction limits and compliance thresholds.
• Conduct internal audits and ensure readiness for regulatory inspections.
• Investigate discrepancies and operational irregularities.

4. Banking & Correspondent Coordination

• Liaise with partner banks and international correspondents for smooth fund transfers.
• Monitor nostro/vostro account reconciliations (where applicable).
• Ensure proper documentation and settlement tracking.

5. Financial Monitoring & Reporting

• Prepare daily, weekly, and monthly MIS reports.
• Monitor forex margins and profitability.
• Track operational costs and transaction fee structures.
• Provide reports to senior management and regulatory authorities.

6. Process Improvement & Technology

• Optimize remittance processing workflows.
• Work closely with IT teams for system upgrades and automation.
• Ensure proper usage of forex software and compliance systems.

7. Team Management

• Supervise branch operations teams and back-office staff.
• Conduct training programs on compliance and operational procedures.
• Ensure high productivity and service standards.

Key Skills & Competencies

• Strong knowledge of forex remittance processes
• Familiarity with central bank regulations and AML/KYC norms
• Risk assessment and fraud prevention skills
• Financial and operational analysis capability
• Strong coordination and communication skills
• Attention to detail and regulatory awareness