VP, Head of Global FX Operations

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Job description

Job Description

Enterprise FX and Cross Border Solutions: Head of Global FX Operations

Team Summary

The Enterprise FX and Cross Border Solutions team is charged with leading the design, build, and commercialization of best-in-class flexible enterprise-wide FX, settlement, virtual accounts, and currency management solutions as we seek to meet the growing and increasingly diversified needs of clients moving funds around the world. In addition, this team is responsible for building and delivering a broad suite of flexible, transparent, and competitive FX solutions and is responsible for FX trading, operations, and commercialization across the enterprise.

The Role

The Head of Global FX Operations is a highly experienced professional specializing in Foreign Exchange (FX) and embedded currency management and settlement solutions. This leader will direct the day-to-day operations of a team across multiple platforms on which Visa performs foreign currency conversion associated with global payments services we provide to clients on card, account, and wallet cross border flows. The role reports to the Global General Manager, Enterprise FX & Cross-Border Solutions and is a member of the leadership team. This leader is instrumental in accelerating business growth specifically associated with the increasing FX attachment across Visa's cross border flows, driving cross border revenue streams, and enhancing customer satisfaction on a global scale.

Key Responsibilities:

Lead the direct team responsible for FX payment operations and reconciliations including purchase payment flows, whilst supporting the Commercial Money Movement Solutions business respective payment operation and reconciliations teams with downstream related FX transactions, managing related exceptions, disputes, investigations and resolutions.

Responsibility for annual FX revenue budget, quarterly re-forecasts, and monthly variance analysis and reporting.

Manage the daily FX rate setting processes across carded cross-border payments flows.

Review and reconcile daily and monthly FX revenue reporting in co-ordination with Corporate Finance and Accounting

Leading the FX Settlements and Operations team to deliver high standard operational support including setting up targets, preparing deliverables, and conducting reviews to maintain agreed internal quality standards and SLAs.

Evolve and execute the FX operations strategy as a complement to the FX platform modernization strategy.

Developing and driving implementation of best practice back-office operations strategies and processes.

Articulating improvement areas and driving efficiency within the FX operations division.

Setting up a fit-for-purpose operational framework including fully documented policies, processes and procedures, internal controls, and KPIs across all enterprise FX operational processes

Complete settlement tasks and daily rate revaluations accurately and on time.

Coordinate transaction processing issues to the appropriate department and collaborate on a solution.

Perform regulatory controls, account reconciliations, and record retention activities in accordance with established policies.

Reporting to legal entity management or respective boards as and where applicable as it relates to FX activity.

Prepare and submit periodic internal and external regulatory reports, as necessary.

Ensuring inbound and outbound FX payments are reconciled against source system and bank statements on a daily basis

Manage coordination strategies and processes between wider teams to resolve FX operational issues or adapt these processes, as and where needed, to changes across Visa's payment flows.

Evaluating, recommending and partnering with internal and external stakeholders to develop new strategies and technologies

Supporting and contributing to identifying and implementing operational efficiencies

Provide coaching and training to build up a resilient best-in-class team and establish a high-performance culture.

Support Audit, Compliance and other teams as needed and ensure all processes adhere to legal and regulatory requirements, internal policies and guidelines

Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Visa, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

Why this is important to Visa

Your role is business critical to Visa's cross border growth objectives by ensuring efficient running of FX operations across our platforms, with an eye to continuous improvement and driving a keen focus on excellent execution.

Successful candidates will be highly adaptable, possess strong interpersonal and organizational skills, and able to effectively manage multiple work streams. This role requires a high degree of comfort with business process planning, execution, and re-engineering, and the ability to work across a series of stakeholders in different market settings and functional roles to understand client and market needs, treasury capabilities, and technical delivery aspects. In addition, the candidate must be highly collaborative, strategic, detail-oriented, and bring a structured and disciplined approach to aligning operational processes in this space across platforms, geographies, and use cases.

Qualifications

Deep understanding of FX markets and trading platforms. Interest in technology.

At least 5 years of experience in operations and business management within the FX industry or a related financial services sector. Experience in a leadership role will be highly considered

Proven track record in change management and building and scaling an operations function across geographies

Demonstrated ability to drive efficiency and support an evolving set of business requirements

Expert knowledge of low and high-value payment clearing schemes, in particular, those around cross border payments.

Experience of complex systems integrations, architecture and workflow modernization

Experience in reconciliation between payment systems and back-office/bank statements

Knowledge of sweeping and pooling of funds for payment processing and settlement

Good understanding of regulatory and compliance requirements for international payments

Good knowledge of treasury products and activities, including Money Market, FX spots and forwards, swaps, bonds, vanilla derivatives, sweeping and pooling of funds for payment processing and settlement

In depth knowledge of principles, policies, and practices related to payment operations and banking, as well as expertise in digital payment processing including current industry processing models and new trends in the FinTech payment landscape.

Personal resilience and ability to perform effectively in a high-pressure environment with a positive can-do attitude and a positive attitude to change

Ability to develop new policies and procedures in response to, and in anticipation of, changes in the business and regulatory environment.

Strong working experience leading teams across various operating platforms, particularly in payment networks and platforms within the financial sector.

Excellent analytical, leadership, interpersonal and management skills

Self-starter, resourceful, able to work independently and as a team

Excellent communication skills, both written and verbal

Strong leadership and team management abilities, with a focus on accountability and high-performance global operations support.

Lead, mentor, and grow the operations division, equipping the team with the necessary skills, tools, and resources to exceed performance expectations.

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