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. VIRGIN FOREST ENERGY LIMITED operates so many retail outlets in the downstream sector of Nigeria’s oil and gas industry, offering a wide range of petroleum products and quality lubricants for various automobiles and machines. Our offerings are designed to satisfy the respective needs of the nation’s industrial, aviation and marine markets.
Job Title: Foreign Exchange Officer
Job Type: Full Time
Job Field: Finance / Accounting / Audit
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.
- 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.