FX Trader Associate (Remote) at Fairmoney Microfinance Bank

FairMoney is building the leading mobile bank for emerging markets. We started with a digital microcredit application on Android, and currently roll out additional financial services (current account, savings, debit card) while expanding the product to Western Africa and South-East Asia.

We are recruiting to fill the position below:

Job Title: FX Trader Associate

Location: Nigeria (Remote)

About the Role

• As an FX Trade Associate at Fairmoney, you will be responsible for managing FX margins and rates for our B2B Cross-Border Payments trades.
• This role involves overseeing positive positions and maximizing trade margins, contributing to the overall profitability of the business.
• The ideal candidate will have a strong understanding of Fintechs, treasury management, FX rates, and currency risk management tools, alongside a proven ability to handle large block trades and collaborate effectively with internal and external stakeholders.

Key Responsibilities
Execute and Match Trades:

• Handle large block trades within the market, ensuring efficient execution and matching with clients’ needs.

Develop and Contribute to OTC Sales Strategies:

• Play an active role in developing OTC sales strategies, guiding and driving the team on the best approach to implementing these strategies.

Regulatory Knowledge and Compliance:

• Bring familiarity with deliverable FX market regulations and compliance requirements (preferred), ensuring all activities are in line with regulatory standards.

Foreign Exchange Market Expertise:

• Demonstrate a strong understanding of foreign exchange markets and trading platforms (preferred), applying this knowledge to optimise trade execution.

Market and Pricing Information:

• Provide internal stakeholders with daily market updates, pricing information, and forecasts to support decision-making and trading activities.

Collaborate with Sales Teams and Clients:

• Work closely with Sales teams, clients, and other internal stakeholders to ensure accurate trade capture, manage risk, and provide excellent client servicing.

Booking and Managing Trades:

• Accurately book trades and ensure positions are correctly reflected, ensuring minimal discrepancies in all trade processes.

Discrepancy Resolution:

• Address any discrepancies related to trade bookings in a timely and effective manner, working in collaboration with the sales team and clients.

Reconcile Trades:

• Reconcile the present value of trades daily with the sales team, ensuring accurate accounting for all outstanding and unprocessed trades.

Compliance and Control Processes:

• Ensure compliance with trade booking, verification, and reconciliation controls, while enhancing processes for better accuracy and efficiency.

Drive Scalable Growth:

• Focus on generating scalable, repeatable, and predictable trade volume, net revenue, and gross profit to support the company's growth goals.

Reporting and Data Analysis:

• Analyze and present market and trade data to key internal stakeholders, informing impactful business decisions and helping adapt strategies to drive profitable growth in the region.

Requirements

• Experience: Previous experience in FX trading, treasury management, or working with Fintechs is preferred.
• Technical Skills: Strong understanding of FX rates, currency risk management tools, and foreign exchange market dynamics.
• Knowledge: Familiarity with deliverable FX market regulations and compliance requirements (preferred), as well as knowledge of trading platforms.
• Analytical Skills: Strong ability to analyze and report market data to inform business decisions and optimize trading strategies.
• Collaboration: Proven experience working closely with internal teams (Sales, Treasury) and external clients to ensure accurate trade capture and risk management.
• Attention to Detail: Excellent attention to detail with a focus on accuracy in trade execution, booking, and reconciliation.
• Strong Communicator: Ability to communicate effectively with both internal stakeholders and clients, ensuring clear and timely information flow.
• Problem-Solver: Strong problem-solving skills, with the ability to resolve discrepancies and trade issues quickly and effectively.
• Results-Driven: A focus on achieving high trade margins, revenue growth, and operational efficiency, contributing to the overall profitability of the business.
• Adaptable: Ability to work in a fast-paced environment with evolving business needs, market conditions, and regulations.

Salary and Benefits

• Competitive salary
• Remote work
• Training & Development
• Pais Time Off

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Recruitment Process

• A screening call with a member of the recruitment team for 30 minutes.
• Technical interview with the hiring manager for 30 to 60 minutes.