Manager – Foreign Exchange Sales
Full-Time
About Kingdom Bank is a subsidiary of the Co-operative Bank of Kenya, following its acquisition of Kingdom Bank in August 2020. We are now part of a Group with over Kes. 457 Billion total assets and Kes 20.7 Billion profit before tax as at 31 December 2019. Manager – Foreign Exchange Sales Responsibilities Foreign Exchange Income and Business Growth Develop and implement the Bank’s foreign exchange sales strategy in line with the Treasury strategy and the Bank’s overall business plan. Deliver the Bank’s approved FX income, transaction volume, customer acquisition and profitability targets. Grow the Bank’s share of FX business from existing retail, MSME, commercial, corporate, institutional, diaspora and high-net-worth customers. Identify and acquire new customers with regular foreign currency requirements, including importers, exporters, NGOs, schools, hospitals, manufacturers, travel companies, hospitality businesses, professional firms and diaspora-related customers. Increase the number of active FX customers and improve customer retention, transaction frequency and wallet share. Identify dormant and underutilised FX customers and develop targeted plans to reactivate and grow their business. Work with the Head of Treasury to establish branch, segment and individual FX sales targets and monitor performance against the approved budget. Protect the Bank’s profitability by balancing competitive customer pricing with approved margins and revenue expectations. Lead Generation and Conversion Establish and manage a structured Bank-wide process for generating, recording, assigning, following up and converting FX leads. Maintain an accurate FX sales database covering prospective customers, active customers, customer segments, expected transaction flows, currencies, transaction frequency and estimated income potential. Develop and maintain an active sales pipeline, prospect list and customer call plan. Track every qualified lead from identification through customer engagement, quotation, negotiation, transaction completion and repeat business. Monitor lead conversion rates by branch, business unit, customer segment and relationship manager. Ensure that all customer engagements have clearly documented next actions, responsible officers and expected completion dates. Work with Marketing, Branch Banking, Business Banking, Corporate Banking, Institutional Banking, Trade Finance, Diaspora Banking and other relevant teams to develop targeted FX campaigns. Use customer account activity, international transfers, trade transactions, foreign currency accounts and other available information to identify potential FX opportunities. Customer Relationship Management Develop and maintain strong relationships with existing and prospective FX customers. Serve as a key point of contact for customers with significant or recurring foreign exchange requirements. Conduct regular telephone calls, virtual meetings and physical visits to existing and prospective customers. Prepare customer profiles showing the nature of the customer’s business, foreign currency exposures, transaction cycles, preferred currencies, expected volumes, pricing sensitivity and service requirements. Understand each customer’s foreign currency requirements and recommend appropriate approved FX and treasury solutions. Provide customers with timely market information, currency trends and relevant guidance to support informed transaction decisions. Encourage customers to consolidate their FX transactions, foreign currency accounts, international transfers, trade finance and related banking business with Kingdom Bank. Negotiate transactions professionally while protecting the interests and profitability of both the customer and the Bank. Resolve customer queries, complaints, delayed settlements and service challenges promptly. Develop customer retention and win-back plans for customers whose FX activity has reduced or moved to competing banks. Branch Network Activation Drive FX sales and business development through all Kingdom Bank branches. Segment branches according to their FX potential and develop specific business development plans for each branch. Conduct regular branch visits to review FX performance, identify opportunities, support customer engagements and address implementation gaps. Work closely with Branch Managers, Business Bankers, Relationship Managers, Personal Bankers and other customer-facing teams to identify and convert FX opportunities. Participate in joint customer visits and sales calls with branch and relationship teams. Establish an effective FX referral process through which branches can submit, track and receive feedback on customer opportunities. Identify and support FX champions within branches to strengthen ownership and improve sales execution. Provide branches with regular feedback on submitted leads, completed transactions, lost opportunities and pending customer requirements. Conduct periodic branch performance reviews and recommend corrective action for branches that are not achieving their FX potential. Promote cross-selling of foreign currency accounts, international payments, remittances, trade finance and other relevant Bank products. Training and Sales Capability Development Develop and deliver practical FX product and sales training for Branch Managers, Business Bankers, Relationship Managers, Personal Bankers and other relevant employees. Train employees on identifying FX opportunities, profiling customers, initiating customer conversations, making referrals and following up leads. Equip business teams with sufficient knowledge of FX products, pricing considerations, market terminology, customer documentation and transaction processes. Prepare simple sales guides, customer conversation scripts, frequently asked questions and product information materials. Provide coaching to branch and relationship teams during joint calls, customer visits and sales reviews. Evaluate the effectiveness of FX training by monitoring lead generation, conversion rates and income performance after training interventions. Keep employees informed about significant market developments, currency movements and emerging customer opportunities. Deal Management and Service Delivery Work closely with the Treasury trading desk to obtain timely and competitive customer quotations. Ensure that all customer FX transactions are appropriately routed through the Treasury function and booked in accordance with approved procedures. Coordinate with Treasury Operations, Branch Operations, Trade Finance, Institutional Banking and other relevant teams to ensure timely transaction processing and settlement. Confirm that all required customer instructions, supporting documents, approvals and account arrangements are in place before transactions are completed. Monitor outstanding transactions and follow up on incomplete documentation, failed settlements, customer instructions or operational issues. Ensure customers receive prompt quotations, clear transaction confirmations and timely feedback. Review lost or cancelled transactions to identify pricing, service, relationship or process weaknesses and recommend corrective action. Maintain an accurate record of completed, pending, lost and deferred FX opportunities. Market Intelligence and Business Development Monitor domestic and international foreign exchange market developments and assess their implications for customers and the Bank. Collect and analyse information on competitor pricing, customer behaviour, sector trends, emerging foreign currency flows and market opportunities. Identify economic sectors, geographical regions and customer groups with significant potential for FX business. Provide regular market intelligence to Treasury, branches and relevant business units. Recommend improvements to the Bank’s FX products, pricing approach, distribution channels and customer value proposition. Support the development of customer events, market briefings, webinars and targeted business forums. Represent the Bank professionally in relevant customer engagements, business forums and industry events. Risk, Compliance and Controls Ensure that all FX transactions comply with Central Bank of Kenya requirements, applicable laws, internal policies, approved limits and Treasury procedures. Maintain a strong compliance culture across all FX sales activities. Ensure adherence to Know Your Customer, Anti-Money Laundering, Counter-Terrorism Financing, sanctions screening and customer due diligence requirements. Ensure that transactions are supported by the required customer instructions, documentation and underlying commercial purpose. Ensure that customer pricing, transaction commitments and negotiated terms remain within delegated authority and approved limits. Escalate unusual transactions, suspected breaches, documentation gaps, settlement risks and customer conduct concerns promptly. Protect customer information and ensure compliance with the Bank’s information security and data protection requirements. Maintain complete and accurate records of customer engagements, quotations, transactions, approvals and sales activities. Performance Monitoring and Reporting Prepare daily, weekly and monthly reports on FX income, transaction volumes, margins, customer activity, lead generation and conversion. Maintain accurate call reports covering customer calls, visits, opportunities identified, estimated transaction value, expected income and agreed next actions. Report FX performance by branch, region, customer segment, currency and relationship team. Present periodic performance updates to the Head of Treasury and other relevant management forums. Recommend corrective actions where performance is below target. Prepare customer, branch, sector and competitor analyses to support management decisions. Qualifications Academic and Professional Qualifications Bachelor’s degree in Finance, Economics, Commerce, Business Administration, Banking or another relevant field. A postgraduate qualification in Finance, Economics, Business Administration or a related field will be an added advantage. ACI Dealing Certificate, professional banking qualification or another relevant Treasury certification will be an added advantage. Demonstrable knowledge of foreign exchange products, financial markets, international payments, trade finance and treasury operations. Experience At least five years of relevant banking experience, with significant exposure to Treasury sales, foreign exchange sales, corporate banking, commercial banking, business banking or relationship management. At least three years of direct experience in foreign exchange or Treasury sales. Proven track record of achieving FX income, sales, customer acquisition or portfolio growth targets. Demonstrable experience in lead generation, customer acquisition, pipeline management and conversion of opportunities into revenue. Experience working with a branch network and supporting customer-facing teams to achieve sales targets. Experience in managing relationships with MSME, commercial, corporate, institutional, diaspora or high-net-worth customers. Experience conducting customer calls, physical visits, product presentations and commercial negotiations. Don't Keep Share!: WhatsApp Tweet