VP Foreign Exchange Sales

Bank of Utah; Salt Lake City (UT); On-site; USD 150,000 - 230,000; Full time

Benefits offered by this job

Mon-Fri schedule

Medical coverage

Dental coverage

Vision coverage

401(k) match

Paid holidays & PTO

Volunteer opportunities

Awards & recognition

Job summary

Bank of Utah is seeking a VP of Foreign Exchange Sales to lead development and growth of the FX business from Salt Lake City, Monday–Friday at our branch. You will acquire new clients, deepen relationships, and provide needs-based FX solutions while partnering with bankers and internal teams for pricing, underwriting, and settlement.

The role requires a strong background in FX markets, pricing, and risk management, with the ability to drive revenue, collaborate across functions, and ensure

Qualifications

• Minimum of 10 years of foreign exchange experience with success in FX sales, business development, and client relationships.
• Strong knowledge of FX markets, pricing, workflows, and currency exposures for clients’ business activities.
• Understanding of credit risk, financial analysis, counterparty exposure, and credit recommendations.
• Ability to acquire new business, expand relationships, manage a sales pipeline, and achieve revenue goals.
• Exceptional interpersonal, consultative sales, negotiation, and presentation skills; ability to explain FX products, pricing, and risks clearly to clients.
• Ability to analyze income statements, pricing, margins, and revenue trends and translate findings into business recommendations.
• Knowledge of compliance requirements and internal controls related to FX, including due diligence, AML, sanctions, and confidentiality.
• Strong judgment, attention to detail, and ability to manage competing priorities and time-sensitive transactions.
• Ability to collaborate across sales, credit, operations, treasury, and compliance; provide training and guidance.
• Proficiency with business productivity tools and FX platforms, CRM systems, and financial reporting tools.

Responsibilities

• Business development and sales: develop an FX sales plan and maintain an active pipeline.
• Client relationship management: serve as the primary FX contact and address currency needs and exposures.
• Needs-based solutions and client education: explain transactions, terms, costs, and risks clearly.
• Internal partnerships: work with relationship managers to identify FX opportunities and coordinate referrals.
• Revenue and profitability: monitor income, expenses, volume, and margins; seek profitability actions.
• Pricing and revenue collection: set client FX pricing within guidelines and ensure revenue collection.
• Credit underwriting and exposure management: evaluate risk and obtain approvals before commitments.
• Transaction coordination: support quotations, execution, confirmations, and settlement.
• Risk management and compliance: follow policies, onboarding, due diligence, screening, and controls.
• Team coordination and training: assist with scheduling and provide FX product training.
• Market awareness and communication: monitor currency developments and share insights.
• Reporting and process improvement: maintain records and propose product/workflow enhancements.
• Attendance is an essential function of the job.
• Other duties as assigned.

Skills

FX sales

business development

relationship management

pricing and revenue

credit underwriting

compliance

communication

travel

team collaboration

FX platforms

Tools

FX platforms

CRM systems

financial reporting tools

Job description

Thanks for your interest in applying to the Bank of Utah. My name is Dillon Schmutz, and I work as SVP Trust Manager. As an introduction to our company, the Bank of Utah was founded in 1952, and is one of Utah’s largest privately owned community banks. We were named S&P Global Top 20 Bank two years in a row and a Top 100 Fastest Growing Company.

Our Mission Statement

We strive to unlock the potential of our team members, clients, and community. We act with integrity in every decision, build trust through every interaction, and exceed expectations at every opportunity. We seek to responsibly create lasting prosperity today and for generations to come.

Job Opening Details

If our mission statement piques your interest, we encourage you to apply for the currently open position of VP Foreign Exchange Sales to work Monday - Friday at our Branch located at Salt Lake City, UT. This VP Foreign Exchange Sales will lead the development and growth of the Bank’s foreign exchange (FX) business by acquiring new clients, deepening existing relationships, and delivering responsive, needs-based FX solutions. Serve as the primary contact for FX clients and partner with bankers and internal teams to support transactions, appropriate pricing, credit underwriting, and reliable execution and settlement. Accountable for FX revenue growth, profitability, revenue collection, and effective coordination of daily activities within approved policies, risk limits, and delegated authority.

Qualifications

• Minimum of 10 years of foreign exchange experience, with demonstrated success in FX sales, business development, and client relationship management.
• Strong knowledge of FX markets, transactions, pricing, transaction workflows, and the currency exposures associated with clients’ business activities.
• An understanding of credit risk, including financial analysis, counterparty exposure assessment, and preparation of credit recommendations.
• Demonstrated ability to acquire new business, expand existing relationships, manage a sales pipeline, and achieve assigned revenue and profitability goals.
• Exceptional interpersonal, consultative sales, negotiation, and presentation skills; ability to explain FX products, pricing, and risks clearly to clients and internal partners.
• Ability to analyze income statements, pricing, margins, and revenue trends and translate findings into business recommendations.
• Working knowledge of compliance requirements and internal controls relevant to FX activities, including customer due diligence, anti-money laundering, sanctions screening, and protection of confidential information.
• Strong judgment, attention to detail, and organizational skills, with the ability to manage competing priorities and time-sensitive transactions.
• Ability to collaborate across sales, credit, operations, treasury, and compliance functions and provide practical training and guidance to team members.
• Proficiency with business productivity tools and the ability to use FX transaction platforms, client relationship management systems, and financial reporting tools.
• Ability to travel to client meetings and business development activities as needed and meet the Bank’s driving requirements.

Regular Duties and Responsibilities

• Business development and sales: Develop and execute an FX sales plan aligned with the Bank’s objectives and annual assigned goals. Identify prospects, cultivate referral sources, maintain an active pipeline, and convert opportunities into long-term client relationships.
• Client relationship management: Serve as the primary FX contact for clients, understand their international payment needs and currency exposures, and identify opportunities to expand existing service relationships. Provide timely follow-up and coordinate resolution of client concerns.
• Needs-based solutions and client education: Explain approved transactions, transaction terms, costs, and material risks in clear language. Align proposed solutions with documented client needs and the Bank’s product parameters without promising market outcomes.
• Internal partnerships: Partner with relationship managers and other business lines to identify FX opportunities, conduct joint client calls, support referrals, and deliver a coordinated client experience.
• Revenue and profitability: Take responsibility for the FX income statement and continued revenue growth. Monitor revenue, expenses, transaction volume, and margins; analyze results against goals; and recommend actions to improve sustainable profitability.
• Pricing and revenue collection: Establish client FX pricing within approved guidelines and delegated authority, balancing competitiveness, relationship value, and profitability. Coordinate accurate revenue recording, reconciliation, and timely collection of amounts due; escal ate discrepancies or overdue balances.
• Credit underwriting and exposure management: Evaluate credit risk, prepare or coordinate credit requests, and obtain required approvals before commitments are made. Monitor client exposures and adherence to approved limits and terms, escalating exceptions through established channels.
• Transaction coordination: Coordinate with authorized trading, treasury, and operations personnel to support accurate quotations, transaction execution, confirmations, payment instructions, and settlement. Help resolve trade discrepancies and settlement issues promptly while maintaining required separation of duties.
• Risk management and compliance: Follow applicable requirements, Bank policies, approval authorities, and internal controls. Coordinate required client onboarding, due diligence, sanctions screening, and documentation with responsible teams. Promptly elevate unusual activity, control concerns, limit breaches, and other exceptions.
• Team coordination and training: Assist with team operations, scheduling, workload, and workflow. Provide training and guidance on FX products, sales practices, processes, and controls to support consistent service and operational continuity.
• Market awareness and communication: Monitor currency market developments and competitive conditions. Share relevant information with clients and internal partners to support informed discussions and identify potential business needs.
• Reporting and process improvement: Maintain accurate client, pipeline, and transaction records. Provide management reporting on sales activity, revenue, profitability, exposures, and service issues. Recommend improvements to products, workflows, and controls and recommend FX credit policy changes to the Loan Committee through established governance processes.
• Attendance is an essential function of the job.
• Other duties as assigned.

Benefits of Working with Us

Bank of Utah's comprehensive benefits package includes:

• Great work-life balance, with a Monday-Friday schedule
• Competitive pay and benefits, including medical, dental and vision plans
• 401(k) plan and match up to 5 percent in our employee stock ownership program (eligibility requirements must be met)
• 12 paid bank holidays + paid time off, including paid parental leave
• Volunteer opportunities to make a difference in the communities where you work and live
• Awards and recognition to celebrate you and your colleagues for living the bank's values