We need a Manager - Bank Notes Division
Every employee at Al Rostamani Group plays a role in making a real difference to the business and our customers. We care for our employees by offering them meaningful and purposeful work and an opportunity to grow, learn, contribute and succeed. Today, the Al Rostamani Group has come a long way since its birth in 1957. Our group has grown steadfastly with the guiding principles of Commitment, Care & Vision, alongside a strong sense of active involvement in the community. We are a well-diversified group, with a key presence in industries such as General Trading, Automobiles and Heavy Equipment, Travel, Foreign Exchange, Financial Services, Property Management, Construction, Infrastructure Development and Information Technology Services. Our Group employs approximately 2000 people from 41 different nationalities, which contributes to our multicultural and multi-national environment.
Al Rostamani International Exchange is a leader in providing currency exchange and international remittance services in the UAE. It is an ISO 9001:2000 certified company having a wide range of products and services catering to all income groups for both nationals and expatriates.
Job Purpose
Responsible for Sales & Revenue performance of wholesale bank notes division through risk-free trading (buy/sell/export) of currencies as approved by ARIE Management. Adherence to procedures and utilization of risk mitigation activities to prevent Financial Fraud or Loss; focus on Customer retention and new business development for the unit; and effective Cost Management.
Job Responsibilities
- Driving and delivering the overall team target for the BND unit.
- Mentoring and training BND team members for revenue delivery as well as process knowledge based on defined SOP at ARIE.
- Generating profit and revenue through the execution of client orders as well as through the hedging of client positions.
- Ensuring on trading desk, to make sure that market and execution risk is dealt with according to policies.
- Quoting foreign currency buying and selling rates to clients.
- Buy and Sell foreign currencies protecting the margin taking into consideration the market and the business assigned targets.
- Servicing of Corporate Treasury sales pricing / structuring requirements and risk management.
- Manage and monitoring bank daily liquidity position.
- Maintaining relationships with other parts of Treasury and the wider Group to ensure adequate profile and development of the unit.
- Increase the FC volume and revenue in BND
- Monitoring external market conditions, determine how they may impact the business and plan accordingly.
- Maintaining healthy business relations with existing customers and successfully building new relations with customers
- Forecasting and planning monthly & quarterly income targets and executing them in a given time frame. Keeping updated with new guidelines in Retail forex and trade finance & latest Central bank rules.
- Manage group’s operational cash flows and all associated risks including liquidity, funding, capital, FX and interest rate.
- Carrying out Forex transactions settlement with all procedural formalities and documentations.
- Analysing Bank Account Cost price, finance & operating data revenue and P&L
Job Requirements
Qualifications
- Bachelor’s Degree is must and MBA is an advantage
Experience
- Relevant experience of 10-12 years in the Financial/Exchange industry in the Wholesale Bank Note Unit or a large Branch with currency transactions.
Knowledge & Skills
- Good analytical decision making ability with a proven leadership quality
- Strong negotiation skills, proactive and self – motivated
- Highly reliable and ethical, respecting customers’ confidentiality
- Ability to explain complex information into simple terms
- Good verbal and written English communication
- Ability to manage diverse group of Relationship Managers
- Good knowledge on MS Office Applications
At Al Rostamani Group, we seek talented people who work hard to achieve great things. We consider not only your skills and experience, but also your passion for the role, your desire to learn and how well you align with our core values of care, commitment and vision. If this position represents an opportunity you wish to pursue, we invite you to apply.
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