Foreign Exchange Officer at Virgin Forest Energy Limited
VIRGIN FOREST ENERGY LIMITED is a wholly-owned and well capitalized Nigerian energy downstream oil trading company. We are dedicated to the provision of top-rate petroleum products and by-products to our vast array of clients and customers across Nigeria and beyond. In the course of our short but eventful existence as a corporate entity, we have carved a nic…
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Foreign Exchange Officer
- Job Type Full Time
- Qualification BA/BSc/HND
- Location Lagos
- Job Field Finance / Accounting / Audit
Purpose of Role
We are looking for an experienced Foreign Exchange Officer who is passionate about customers. The successful candidate will join a dynamic and fast-paced environment and work with cross-functional teams.
- Liaise with the Investment Team to procure FX in line with clients’ instruction to fund their account for settlement of trades
- Proactively manage client’s expectations in processing their FX transactions.
- Ensure that the confirmation of FX processed for clients are sent in line with SLA with clients
- Prepare CCI (Commodity Channel Index) issuance instructions and submit to appropriate team.
- Follow up to collect hard copy of CCIs issued and file accordingly
- Regularly update and maintain the CCI register
- Escalate late and non-receipt of funds, post settlement.
- Ensuring that all suspicious transactions are reported to Management
- Advising on the timing and extent of foreign exchange transactions
- Providing insights into the fluctuations and forward trends of the currency market
- Liaise with Investment Team to procure FX and timely repatriate same in line with clients’ instruction
- Proper filing of documents and general administration
- Daily reconciliations of clients’ CCIs issued and utilized.
- Markdown of CCIs for utilization during FX repatriations by clients
- Timely response to all service and operational issues/queries relating to FX processing and CCI administration
- Daily call over of all FX inflows by clients and ensure that CCIs are issued to cover the inflows
- Daily call over of all FX outflows by clients and ensure that the related CCIs are properly and correctly marked down
- Prepare and submit weekly and monthly reports on all outstanding FX issues
- Prepare and submit weekly and monthly reports on all outstanding CCI issues and their status
- Daily monitor of clients account for re-investments and proper updating of clients’ CCI.
- University degree; preferable financial & accounting related
- Market Relevant Qualifications
- Ability to understand the Nigerian stock market
- Capacity to deal with diverse mix of clients
- Provide clients with prompt response to their queries
- The essential requirement of this job function is timeliness. Clients must be kept happy with timely service.
- Prompt, efficient and effective customer service cannot be compromised.
- Understanding the settlement mechanism
- Must have the ability to work under pressure
- In-depth knowledge of foreign exchange and relevant legislation
- Excellent negotiation skills
- Strong financial acumen and analytical skills
- Strong networking and interpersonal skills
- Strong written, oral communication and presentation skills.