The FX Dealer has the responsibility to:
- Execute currency hedge transactions with external banks for regulated countries at best price, and with Switzerland for non-regulated countries
- Establish the FX exposure in cooperation with accounting and cash manager
- Explain monthly FX results and report/alert to management
- Anticipate any change in FX regulatory environment, analyze the impact and propose a relevant process adaptation(s)
The FX Dealer is under the hierarchy of the Zone Corporate Treasurer and report functionally to the Group Market Operations Manager.
KEY EXPECTED ACHIEVEMENTS
1. The accounting foreign currency result is optimized
2. Compliance to FX Group policies
3. Execution of FX Deals at best price
4. Procedures and processes adapted to new regulations
PERFORMANCE MEASUREMENT
- Treasury management indicators: absolute value of forex result
- Middle office report and Internal control/audit compliance
- Performance Front Office report and 360T report
MAIN ACTIVITIES
As part of implementation of Group financing policy and local rules, the FX Dealer:
- Manages currency risk and targets Zero FX result for all countries in the zone
- Establishes proactive communication with accounting team with regard to FX hedging
- Executes currency hedge transactions with Switzerland and external banks, in accordance with Group rules
- Ensures execution of FX transactions with external banks at the best price
- Confirms all FX deals are accurately captured in Quantum Treasury System, in compliance with Middle Office safeguards
- Ensures the data quality of FX Exposure and FX Results captured by accounting team
- Clearly explains the monthly FX results
- Recommends process improvements in the Foreign Exchange lifecycle process
- Ensures procedures and reporting requirements related to FX regulation and compliance are adapted and up-to-date
- Proposes during the monthly meeting and ensure recommendations on FX matter are implemented in workmanlike manner
