Foreign Exchange Officer

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Description

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

Qualification: BA/BSc/HND

Location: Lagos

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.

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
Minimum years of experience

0

Qualifications
B.Sc
Other Requirements

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:

  • Excellent negotiation skills
  • Strong financial acumen and analytical skills
  • Strong networking and interpersonal skills
  • Strong written, oral communication and presentation skills.

 

Method of Application

Interested and qualified? Go to Virgin Forest Energy Limited on virginforest.com.ng to apply

This job is no longer accepting applications.

View More Jobs at Virgin Forest Energy Limited

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About Virgin Forest Energy Limited
Job Summary
Published
February 21, 2020
Offer Type
Full time
Location
Lagos
Deadline
March 7, 2020
Specialization
Finance / Accounting
Industries
Oil & Gas / Mining
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