Senior Associate FX Back Office

NPCI International Payments (NIPL); Mumbai; On-site; INR 800,000 - 1,200,000; Full time

Job summary

NPCI International Payments Limited (NIPL) in Goregaon, Mumbai, is seeking an FX Back Office specialist to manage post-trade activities, confirmations, settlements, and related processes.

You will support the NIPL Forex Management framework, help mitigate currency risk, and coordinate with banks and internal teams to ensure accurate recording and timely reporting.

Qualifications

• Bachelor’s degree in finance, Business Administration, Economics, or a related field.
• 2+ years of FX back office or related financial operations experience.
• Strong understanding of FX products and market practices.
• Proficiency in using FX trading platforms and back-office systems.
• Excellent analytical and problem-solving skills.
• Strong attention to detail and accuracy.
• Effective communication and interpersonal skills.
• Ability to work under pressure and meet tight deadlines.
• Advanced proficiency in Excel and other data analysis tools.
• AI proficiency

Responsibilities

• Support setup and operation of NIPL Forex Management (NFM).
• Assist in deploying forex strategies to mitigate currency risk.
• Assist front office on trade confirmation and end-to-end FX operation for ITC.
• Monitor FX rates and raise escalations for variances with banks and stakeholders.
• Handle settlement with international partners and AD1 Banks of FX trades.
• Ensure FX activities comply with policies and regulatory requirements.
• Negotiate FX pricing and set FX limits with banks.
• Keep abreast of regulatory changes and update processes.
• Oversee day-to-day forex management activities.
• Maintain online banking platforms and forex systems.
• Prepare regular FX reports to Head, CFO, CEO and Board.
• Identify process improvements and liaise with IT for enhancements.
• Report FX transactions including month-end closings.
• Engage with internal and external auditors.
• Collaborate with business/ops/back-office to resolve issues.
• Manage bank and external stakeholder relationships.
• Work with external consultants to build FX-related product offerings.

Skills

FX back office experience

FX products knowledge

Trading platforms proficiency

Excel & data analysis

Analytical thinking

Communication skills

Pressure handling

AI proficiency

Education

Bachelor's degree in finance, business administration, economics

Tools

FX trading platforms

Back-office systems

Job description

Duties and Responsibilities:
The FX Back Office will play a crucial role in supporting and managing post-trade activities within the
foreign exchange operations. This individual ensures the smooth and efficient processing of FX
transactions, confirmations, settlements, and related activities in compliance with industry standards
and regulatory requirements.

• Supporting for setting up and operationalising the NIPL Forex Management (NFM)
• Assisting in deploying Forex management strategies to mitigate the risk of adverse currency movement
• Assisting front office on trade confirmation, confirm trades with counterparties and ensure accuracy and completeness. Manage end to end FX operation for ITC.
• As part of compliance and governance functions, monitor FX rates and related news and raise timely escalations with banks and internal stake holders in case of variances in margins charged over rates.
• Handle the settlement with international partner and AD1 Banks of FX trades.
• Ensuring that forex management activities are carried out in accordance with approved policies and guidelines. Compliance of FX Risk Management Policy and Internal Policies.
• Negotiation with Banks for FX pricing and setting up FX limits with banks and related documentation.
• Ensuring Forex management related compliance and regulatory requirement. Keep abreast of changes in regulations affecting the FX market and implement necessary changes in processes.
• Smooth functioning of Day-to-Day activities of the Forex Management
• Maintaining the online business banking platforms and forex management systems ensuring the correct recording of all transactions and overseeing technical upgrades as required.
• Preparing daily/ monthly/ quarterly/ annually reporting on fx activities to the Head, CFO, CEO and Board.
• Identify and implement process improvement initiatives to enhance efficiency and accuracy. Liaise with IT to develop and test system enhancements.
• Reporting of FX transactions including month end close, reconciliations.
• Managing the internal and external audit processes and engagement with auditors.
• Working collaboratively with the business, operation and Back-office system acting as an escalation point for unresolved issues, provide specialist financial support and information that they value.
• Managing Bank and other External Stakeholder Relationships
• Working closely with our external consultants to build Fx and Fx related product offerings

Knowledge, Skills and Experience:

• Bachelor’s degree in finance, Business Administration, Economics, or a related field.
• 2+ years of experience in FX back office or a related financial operations role.
• Strong understanding of FX products and market practices.
• Proficiency in using FX trading platforms and back-office systems.
• Excellent analytical and problem-solving skills.
• Strong attention to detail and accuracy.
• Effective communication and interpersonal skills.
• Ability to work under pressure and meet tight deadlines.
• Advanced proficiency in Excel and other data analysis tools.
• AI proficiency

Job Location: Goregaon, Mumbai

About NIPL:

NPCI International Payments Limited (NIPL), incorporated in April 2020, is a profit oriented wholly owned subsidiary of National Payments Corporation of India (NPCI). NIPL was established to enable acceptance of RuPay & Unified Payments Interface (UPI) outside of India. For NPCI, to become a best global payment network, creating a footprint in international market is non-negotiable so NIPL was established to expand in global market using set of different use case and approaches.

NIPL is looking for an ambitious, energetic, innovative remittance product development manager.

NIPL represents an incredible opportunity to address a vast new market segment and customer base and is an area of high interest for NPCI. We are focused on building payment solutions across marketplaces and regions by leveraging on the proven & sophisticated technology of NPCI and existing/prospective strategic partners.