TM Forex & Derivatives

Derivatives Transaction Management Maintaining MIS of foreign currency exposures by regularly updating it with data from various teams, including CPC, Projects, Birla White, and BPD. Receiving purchase order alerts, verifying details in SAP and ensuring all relevant data is captured in the MIS. Managing incoming reports related to marine operations, shipping freights, and export invoices, ensuring timely updates to the MIS. Earmark covers against exposures, advising on earmarked Cover IDs at the time of payments and making necessary adjustments as market conditions change. Executing options strategies for hedging one-third of total exposures, deriving pricing for various combinations (e.g., Buy Call, Sell Put) and preparing quote summaries for comparison. Run the RFQ (Request for Quote) process with top banks, negotiating terms, and finalizing deals, including initial confirmations and updating trades in the Option MIS. Ensuring all transaction documentation is complete, including obtaining final term sheets and ensuring countersignatures within stipulated timeframes Market Monitoring and Optimization Monitoring bank-wise, month-wise net open exposure position on a live basis, ensuring compliance with internal policies on Forex exposures Reviewing trade finance emails for updates on value, due dates, and bank changes to existing exposures. Setting alerts for option expirations, conducting regular assessments of outstanding options against market movements and the likelihood of barriers. Tracking market movements, particularly in the lead-up to option expirations, to determine the need for re-coverage of exposures. Managing the settlement of options on maturity, handling net settlements or delta transfers and coordinating for forward coverage as needed Reporting and Documentation Preparing compliance notes for hedge accounting regarding option strategies and ensure adherence to relevant financial regulations. Report cash flow for option premiums to the finance team, verifying payment details and coordinating with the UKSC team for accounting purposes. Monitoring forward points for currencies, making strategic decisions about rolling over or booking hedges in response to market conditions. Verifying term sheets and scenarios for various financial products, including IRS and Call-Spread options, ensuring all documentation is thorough and accessible for audit Audit, Risk & Compliance Adhere to risk management protocols Comply to all necessary SOP for the function and ensure all compliances are met Support audit requirements by providing all necessary documentation and data Continuous Improvements Identifying process and system improvements and provide recommendations. Implementing necessary changes in process and system basis the finalized improvements