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Oil and Gas

Foreign Exchange Officer Job 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.

 

Requirements
Education:

  • University degree; preferable financial & accounting related
  • Market Relevant Qualifications

Experience:

  • 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
  • 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.

Desired Skills:

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

Responsibilities

  • Providing insights into the fluctuations and forward trends of the currency market
  • 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.
  • 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.
  • 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
  • Ensuring that all suspicious transactions are reported to Management
  • Advising on the timing and extent of foreign exchange transactions

How to Apply
Interested and qualified candidates should:
Click here to apply

Note: Interview date will be communicated to shortlisted candidates.

 

Application Deadline 7th March, 2020.

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