Director of Foreign Exchange

The Director of Foreign Exchange ("DFX") is a high-profile lead principal and practitioner of foreign exchange sales and trading management. This leader commands the credibility and skills necessary to prospect and develop client driven business, primarily through partnering with the Bank's relationship managers and branch managers, and channeling client business primarily through the online/web channel. The DFX knows the big picture, is an end-to-end business operator, and is effective and persuasive, requiring minimal instruction and supervision.

As principal revenue officer for the business unit, the DFX executes and oversees trading, hedging, related risk management, and cross border payment programs/solutions to support the international needs of U.S. clients or the U.S. needs of international clients. Given the US national reach/footprint of the bank, the Director of FX dedicates, and services extended hours to clientele, including a trading day that starts as early as 645 PT, and also provides limited coverage on bank observed holidays that are not widely observed in the private sector.

Develops and negotiates counterparty/correspondent bank partner channels/arrangements; manages revenue/rebate programs that maximize business traffic and the bank's share-of-wallet. Acts as vital client interface and external liaison on behalf of FX International Operations.

Drives and manages business development, sales, client acquisitions and relationships through foreign exchange services. Guides and directs team members and other integrated/support staff across departments to close, transact, and process business; organizes presentations and directs/supports sales calls to prospective and existing clients; and assists relationship managers in sourcing/tracking opportunities in the Bank's CRM platform system. Negotiates with clients service levels, product fits, and lasting solutions.

Commands market instruments, deal/servicing structure, and client relationships, to execute product and servicing solutions with subject matter expertise (SME) and buy-in from internal business partners, namely Relationship Managers, Branch Manager, and Treasury Management Consultants (TMC). Regularly attends call report/pipeline meetings and portfolio reviews to generate a continuous flow of ideas, leads, and sales successes

Dedicates most of the time to achieving sales and organizational objectives. Also projects and promotes the department's offerings and objectives throughout the organization and through the coordinated achievement of oneself, team members, business partners, and key stakeholders across the organization's pillars.

Maintains communication and conducts advisory with key foreign exchange clients; administers onboarding calls and tutorials for clients and internal business partners on the FX/international payment platform and web client portal.

Gathers and produces KYC/CDD/EDD packages and interfaces with the BSA Department to arrange reviews, debriefings, and approvals.

Organizes the Client FX Exposure Limit Application and works with RM and Credit Administration to achieve underwriting and credit risk mitigation.

Arranges and oversees the Bank's foreign currency banknote and check/collection clearing program, channeled through the bank's branch network, ensuring product positioning, process fit, controls, and optimal revenue generation.

Liaises with Finance-Accounting to ensure GAAP and timely and accurate management reporting.

Provides cross coverage business development and sales support for letters of credit and trade finance products.

A power user of key business trading management and processing systems and applications; adept at managing various aspects of front-end sales delivery channels and their supporting/back end functions. Optimizes the onboarding of clients, troubleshoots issues, and designs system improvements, with a focus on CX, and recurring revenues. Participates in test and acceptance, and new system and strategic rollouts.

RESPONSIBILITIES

• Call on and market foreign exchange to Relationship Managers and Branch Managers, and to Bank clients and prospects. Identify and leverage opportunities, business traffic channels, and creativity, to tap, solve and develop client needs.
• Create and maintain calling records/reports in the Bank's CRM system.
• Close and convert business by directing KYC and engaging and advising BSA/AML review of clients prior to onboarding.
• Negotiate with clients servicing terms. Execute FX agreements, Multi Currency Account Agreements, and supporting documentation with clients, including fulfilling regulatory requirements.
• Arrange, apply, and obtain credit approvals for client FX Exposure Limits.
• Direct and coordinate with the International FX Operations Team and Treasury Management Implementations (TMI) to onboard, train, service, troubleshoot, coach, and cross-sell clients; minimize friction and increase FX transaction flows.
• Direct client transaction execution and corresponding foreign exchange trades with interbank counterparties, related transactions, and correspondent bank arrangements/programs that generate and grow recurring revenues.
• Manage FX positions, by hedging and minimizing risk.
• Operate, tune and optimize the day to day functioning of the FX Desk trader workstation system, in conjunction with the client web portal, with respect to limit management, currency configuration/pricing/margining, and credit/market risk management.
• Field branch and client inquiries related to correspondent banking and vendor programs - namely, FX autoconvert, benededuct, and banknote/check/ collection - to deliver client servicing and value, while maximizing the bank's share-of-wallet.
• Contribute to, create, coordinate, and maintain policies, procedures, job aids, marketing materials.
• Analyze, certify key financial results and performance indicators.
• Participate in special projects/initiatives related to business transformation: Organize business requirements; test and accept FX and SWIFT system changeovers and upgrades; closely advise Product Management to form and prioritize initiatives that marry product and sales.
• Support and execute on product strategies and changeovers. Cross-train on and back-up the International Trade Letters of Credit manager with coordination and processing of Letters of Credit and payments.
• Crossover and backup FX International Operations during peak periods and emergencies.
• Support audit requests.

QUALIFICATIONS

• 10-15 years of Sales, Marketing, Trading, and Operational experience in Foreign Exchange and Global Money Markets. Interest Rate Derivatives experience preferred.

A reasonable, good faith estimate of the minimum and maximum base salary or pay for this position is $129,171.00 to $215,285.00. Actual compensation will vary based on various factors including but not limited to location, experience, and performance. A business line incentive may be earned based on a percentage of foreign exchange income, in addition to a medical and other benefits, dependent on the position. For more information regarding our benefits, please visit https://www.ppbi.com/careers.html

CA (Los Angeles applicants): Applicants are notified that the Company is an insured depository institution subject to the restrictions and requirements of Section 19 of the Federal Deposit Insurance Act (12 CFR 303) ("Section 19"). In accordance with Section 19, the Company will consider an applicant's criminal history after an applicant is made a conditional offer of employment. Qualified applicants with criminal conviction records will be considered for employment in accordance with the Los Angeles Fair Chance Ordinance. Section 19 may prohibit the Company from employing an applicant with criminal conviction(s) for fraud, breach of trust, embezzlement, mishandling of money or any crime of violence may have a direct impact on the job duties as set forth in the job description and such convictions may result in withdrawal of a conditional offer of employment in accordance with the Los Angeles Fair Chance Ordinance. Because of the nature of our business, a review of your criminal history is necessary to comply with Section 19 and to avoid substantial risk to our business operations and licensing.

#LI-Onsite #LI-SG1