Forex Manager

Job Title: Forex Accounts Manager
Department: Forex Operations
Location: Masjid
Reports to: Head of Accounts

Job Summary:
The Forex Accounts Manager is responsible for managing the accounts and financial transactions related to the forex business within an FFMC. This role involves overseeing the accounting operations, ensuring compliance with regulatory requirements, managing customer relationships, and supporting the overall profitability of the forex operations.

Key Responsibilities:

1. Accounts Management:
- Maintain and manage all accounts related to forex transactions, including purchases, sales, and remittances.
- Reconcile daily transactions, ensuring accuracy and compliance with accounting standards.
- Prepare financial statements, including balance sheets, income statements, and cash flow statements.
- Monitor forex reserves and manage liquidity to ensure smooth operations.

2. Regulatory Compliance:
- Ensure compliance with all regulatory requirements, including the Reserve Bank of India (RBI) guidelines, FEMA regulations, and any other relevant laws.
- Prepare and submit reports to regulatory authorities on forex transactions, KYC/AML compliance, and other required documentation.
- Coordinate with auditors during internal and external audits, providing necessary documentation and information.

3. Customer Relationship Management:
- Manage relationships with key clients, addressing their forex requirements, and providing timely and accurate information.
- Resolve customer queries and complaints related to forex transactions, ensuring high levels of customer satisfaction.
- Collaborate with the sales team to identify opportunities for cross-selling and up-selling forex products and services.

4. Risk Management:
- Monitor forex market trends and currency fluctuations to manage exchange rate risks.
- Implement risk management strategies, including hedging and forward contracts, to protect against adverse currency movements.
- Ensure proper documentation and record-keeping for all risk management activities.

5. Team Management:
- Supervise and guide junior accountants and support staff in daily forex operations.
- Provide training and development opportunities to team members to enhance their skills and knowledge.
- Conduct performance reviews and provide feedback to team members to ensure continuous improvement.

6. Operational Support:
- Assist in the development and implementation of operational policies and procedures for forex transactions.
- Support the Head of Forex Operations in strategic planning and decision-making processes.