Job Title: Senior Foreign Exchange Settlement Specialist
Location: UAE (Remote)
Employment Type: Full-Time
Level: Senior
Work Arrangement: Fully Remote
About UsWe are seeking an experienced Senior Foreign Exchange Settlement Specialist to oversee foreign exchange (FX) transaction settlements, payment processing, cash movements, and settlement risk controls across multiple currencies and financial counterparties.
This role is responsible for ensuring accurate and timely settlement of FX transactions, minimizing settlement failures, managing payment discrepancies, and maintaining effective operational controls. The successful candidate will collaborate with trading desks, treasury, middle office, operations, correspondent banks, custodians, and other financial institutions to support reliable settlement processes and compliance with applicable policies and market practices.
Key Responsibilities FX Settlement Operations: Manage the end-to-end settlement lifecycle for spot, forward, swap, and other foreign exchange transactions, ensuring transactions are settled accurately and on time. * Trade Validation: Verify FX trade details, including currency pairs, transaction amounts, exchange rates, value dates, counterparty information, and settlement instructions. * Payment Processing: Coordinate payment instructions, currency transfers, and settlement confirmations across internal systems, correspondent banks, and external counterparties. * Settlement Reconciliation: Reconcile FX settlement records against bank statements, nostro accounts, counterparty confirmations, treasury systems, and general ledger entries. * Nostro Account Monitoring: Monitor nostro account balances and expected cash movements, investigate discrepancies, and coordinate funding arrangements to support settlement obligations. * Settlement Failure Management: Investigate failed, delayed, rejected, or partially completed settlements, determine root causes, and coordinate corrective actions with relevant stakeholders. * Payment Instruction Management: Validate standing settlement instructions (SSIs), beneficiary details, bank identifiers, payment routing information, and other critical settlement data. * FX Swap and Forward Settlements: Oversee near-leg and far-leg settlements for FX swaps and validate maturity payments and contractual obligations for forward transactions. * Counterparty Coordination: Liaise with banks, brokers, custodians, and other counterparties to resolve settlement differences, confirm payment status, and address operational issues. * Settlement Risk Monitoring: Identify potential principal risk, payment timing mismatches, funding shortfalls, and counterparty-related settlement exposures. * Payment Controls: Ensure payment instructions are subject to appropriate authorization, verification, segregation of duties, and fraud prevention controls. * Cut-Off and Value Date Management: Monitor currency-specific payment cut-off times, market holidays, settlement calendars, and time-zone differences to avoid missed settlements. * Exception and Break Resolution: Investigate discrepancies involving exchange rates, transaction amounts, value dates, fees, and currency balances, ensuring timely resolution and documentation. * Accounting and Reporting: Ensure settlement activity is accurately reflected in cash records, FX position reports, reconciliation schedules, and financial accounting systems. * Regulatory and Policy Compliance: Ensure settlement activities follow internal policies, applicable regulatory requirements, sanctions screening procedures, and relevant market settlement practices. * Process Improvement: Identify opportunities to automate payment matching, streamline settlement workflows, improve data quality, and reduce manual processing risks. * Stakeholder Collaboration: Work closely with trading, treasury, risk management, compliance, finance, and technology teams to resolve complex settlement issues. * Technical Leadership:* Provide guidance to junior team members, review complex settlement cases, and promote consistent operational standards.
Qualifications and Experience
Key Performance Indicators (KPIs)Performance will be evaluated using measurable indicators, including:
What We Offer
How to ApplyInterested candidates should submit an updated CV highlighting their experience in foreign exchange settlements, cross-border payments, nostro reconciliation, and financial markets operations.
Applicants are encouraged to include examples of settlement failures resolved, reconciliation processes improved, or operational controls strengthened.
