FX manager

Papaya Global; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A fast-growing tech company in the UK is seeking an experienced FX Manager to lead the Treasury team. This role involves strategic analysis, pricing, and execution of FX and cross-border payments. The ideal candidate will have over 5 years of experience in FX pricing and risk management. Strong analytical skills and leadership capability are required to drive effective decisions. This position offers an opportunity to work with innovative technology and contribute to scalable FX operations.

Qualifications

• 5-7+ years of experience in FX pricing and risk management.
• Experience in fintech and cross-border payments is preferred.
• Strong understanding of FX markets and derivatives.

Responsibilities

• Identify and manage multi-currency exposures.
• Execute FX trades ensuring competitive pricing.
• Support FX pricing strategies and customer segmentation.
• Collaborate cross-functionally as the FX Subject Matter Expert.
• Produce FX performance reports ensuring compliance.

Skills

FX pricing

Risk management

Analytical skills

Leadership

Communication skills

Education

Bachelor's degree in Finance, Economics, Mathematics, Engineering, or related field

CFA/FRM beneficial

Tools

Excel

SQL

Python

Job description

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Description

Papaya Global is a rapidly growing, award-winning B2B tech unicorn with a mission to revolutionize the payroll and payments industry. With over $400M raised from top-tier investors, our innovative technology provides a comprehensive solution for managing global workforces, from hiring and onboarding to managing and paying employees in over 160 countries.

The FX Manager will be a critical leader within the Treasury team, responsible for the strategic analysis, pricing, and execution of the company's FX and cross-border payment offerings. This role requires deep market expertise, strong analytical skills, and demonstrated leadership to drive impactful, data-driven decisions across the business. You will be accountable for FX risk management, pricing strategy, customer insights, liquidity optimization, and cross-functional collaboration to support scalable and competitive FX operations.

Key Responsibilities

1. FX Risk Management & Hedging

• Identify, monitor, and manage multi-currency exposures across products and operational flows.
• Develop and execute hedging strategies (forwards, options, NDFs, limit orders) to mitigate market and balance sheet risks.
• Oversee daily exposure calculations and ensure adherence to internal risk frameworks.
• Manage collateral requirements and credit lines for FX derivatives.

2. FX Dealing, Execution & Liquidity Optimization

• Execute FX trades with liquidity providers and banking partners, ensuring competitive pricing and best execution.
• Evaluate LP performance, pricing quality, and execution reliability.
• Optimize internal currency matching/netting to reduce external conversions and bank FX fees.
• Enhance settlement efficiency, reduce slippage, and maintain strong STP performance.

3. FX Pricing, Customer Insights & Market Intelligence

• Support the development and maintenance of FX pricing strategies, including tiered pricing models and margin structures aligned with customer behavior, volume patterns, and market conditions.
• Conduct customer segmentation to understand FX usage trends and transaction behaviors.
• Build predictive models to anticipate FX demand and behavioral triggers (e.g., wallet top-ups, international payments) and support related liquidity positioning.
• Monitor global macroeconomic trends, central bank policy, and market liquidity to guide pricing and risk decisions.
• Deliver clear periodic FX market updates, scenario analyses, and short- to medium-term FX forecasts to support treasury and planning.

4. Product, Engineering & Cross-Functional Collaboration

• Serve as the FX Subject Matter Expert across product, engineering, compliance, finance, and operations.
• Support the design and launch of new products with embedded FX capabilities.
• Translate market, regulatory, and technical requirements into actionable business specifications.
• Partner with engineering to optimize automation of FX systems, pricing engines, liquidity connectors, and STP flows.

5. Reporting, Compliance & Governance

• Produce FX performance reports covering revenue drivers, exposure, hedge effectiveness, and cost of funds.
• Ensure compliance with global FX regulations (MiFID II, PSD2, T+1, local payment requirements).
• Liaise with auditors, regulators, and compliance teams on FX governance and control frameworks.

Requirements

• Bachelor's degree in Finance, Economics, Mathematics, Engineering, or a related field; CFA/FRM beneficial.
• 5-7+ years of experience in FX pricing, risk management, treasury, or cross-border payments.
• Experience in Fintech and cross-border payments company preferred
• Strong understanding of FX markets, derivatives, pricing mechanisms, and liquidity management.
• Proficiency with analytical tools (Excel, SQL, Python, or similar).
• Experience with FX pricing engines, execution platforms, and multi-currency payment systems.
• Excellent communication skills with the ability to simplify complex topics and influence stakeholders.
• Demonstrated leadership or cross-functional influence.

Nice to have

• Strong commercial acumen and risk awareness.
• Advanced analytical and quantitative skills.
• Ability to thrive in fast-paced, high-growth environments.
• Effective collaboration and stakeholder management.
• Detail-oriented, proactive, and execution-focused.