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 niche for ourselves as a company sensitive to the peculiar environment in which we operate, and we have tailored our operations in response to the ever-changing demands of a vibrant and dynamic emerging economy such as Nigeria.

We are recruiting to fill the position of:

Job Title: Foreign Exchange Officer

Location: Lagos

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.

Responsibilities

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.

Requirements

Education:

University degree; preferable financial & accounting related
Market Relevant Qualifications

Experience:

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

Desired Skills: