Industry: Business Group
Total Positions: 1
Job Type: Full Time/Permanent
Gender: No Preference
Salary: 3000USD - 5000USD (Monthly)
Education: Bachelor′s Degree
Experience: 10-20 Years
Location: Muscat, Oman
Skills: Treasury Management, Foreign Exchange and Currency Management, Remittance Operations, Implementations
Posted Date: 25-09-2024
Description:
Job purpose
The Treasury & Remittance Operation Manager is responsible for overseeing the treasury and remittance operations of the exchange company. This role involves managing liquidity, ensuring compliance with regulatory requirements, optimizing the remittance process, and maintaining effective relationships with financial institutions and remittance partners. The role requires a deep understanding of foreign exchange markets, remittance systems, risk management, and financial regulations in Oman.
Duties and Responsibilities
Treasury Management:
Liquidity Management:
o Monitor and manage the company’s cash flow, ensuring sufficient liquidity to meet business needs.
o Optimize cash and currency positions by managing inflows and outflows effectively.
o Coordinate with banks and financial institutions to negotiate rates and maintain strong relationships.
Foreign Exchange & Currency Management:
o Manage the purchase and sale of foreign currencies to ensure optimal exchange rates.
o Monitor currency fluctuations and make informed decisions on FX positions.
o Conduct daily treasury operations including FX trading, cash placements.
Risk Management:
o Implement effective hedging strategies to mitigate currency fluctuation risks.
o Ensure compliance with company risk management policies and guidelines.
Banking Relationships:
o Maintain strong relationships with banks and financial institutions to ensure competitive pricing for FX and remittance services.
o Ensure smooth settlement processes with counterparties.
Remittance Operations:
Remittance Process Optimization:
o Oversee the remittance operations, ensuring timely and accurate transactions.
o Identify opportunities to enhance efficiency and customer experience in remittance services.
Vendor & Partner Management:
o Manage relationships with remittance partners, ensuring competitive rates and efficient service delivery.
o Negotiate and review contracts with international and local remittance service providers.
Compliance & Regulatory Adherence:
o Ensure remittance operations comply with the regulations set by the Central Bank of Oman
o Keep updated with regulatory changes and implement necessary changes to processes.
o Coordinate with the compliance department to monitor AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) regulations and ensure proper KYC (Know Your Customer) procedures are followed.
:
Financial Reporting & Analysis:
Prepare and analyze treasury and remittance reports, providing insights on Currency Stocks, FX exposure, and performance metrics.
Track and report on KPI, including remittance volumes, exchange rates, and profit margins.
Present treasury and remittance performance data to senior management and make strategic recommendations for improvements.
Team Leadership & Development:
Lead, coach, and develop the treasury and remittance operations team.
Assign tasks and set performance expectations for team members.
Encourage continuous improvement and knowledge sharing within the team.
Qualifications / Skills
Bachelor’s Degree (B.A/BCom) in Business Administration/Commerce from a recognized university.
Minimum of 8 years’ experience in money exchange business; GCC experienced candidates are preferred.
Excellent people skills with ability to provide dynamic leadership and with a strong drive to achieve results.
Strong knowledge of foreign exchange markets and remittance systems
Advanced Excel skills and financial modeling experience
Excellent verbal and written communication skills in E