Foreign Exchange Operations Manager

Job Title:

Foreign Exchange Operations Manager

Location:

CityScape

What you'll do:

As the Foreign Exchange (FX) Operations Manager, you will be responsible for ensuring operational integrity is maintained throughout the processing of all FX trades, including trade confirmations, and their settlements. You will lead a team of 4-6 direct reports that include Foreign Exchange Operations Specialists and Senior Specialists. You'll need to ensure duties are followed and adhere to the bank's compliance standards in a timely and efficient manner and according to Western Alliance Bank's policies and procedures, while minimizing all potential risks.

In support of our FX Sales and Trading team, you'll be responsible for managing and monitoring our clients' and bank partners' hedging contracts (Outright, Windows, NDF's, Swaps, Options) and their reminders/notifications/confirmations/settlement. You will also work closely with the head of FX Sales and Trading to co-develop operational solutions that elevate the business and support strategic growth.

A strong FX operations team is a key competitive advantage in today's marketplace. As the FX landscape evolves, you'll be expected to adopt best market practices and prepare for future capabilities, such as SWIFT's anticipated move to real-time payments, to ensure Western Alliance remains ahead of the curve.

Another key daily responsibility is to ensure that all operational systems are updated and in working condition and if not, immediately notify and work with the relevant internal and vendor teams to resolve them. You'll need to generate reports of all daily transactions, reconciliations, fees and charges, while managing and directing your team in all relevant investigations and research.

You will supervise, mentor, and train your team members in the use of all platforms and systems, most notably the FX system of record, SWIFT gateway, and maintain and assist in establishing and closing correspondent bank relationships as needed. You will also be responsible for operational elements related to credit risk mitigation, including monitoring settlement exposures, ensuring pre-settlement risk controls are in place, and collaborating with Risk and Front office teams to manage counterparty risk.

Success in this role requires a strong ongoing partnership with the Front and Middle Office teams to ensure seamless end-to-end trade execution, confirmation, and settlement while maintaining high levels of client satisfaction.

Western Alliance Bank serves a dynamic and diverse client base across many industries, including innovative fintech firms, making this role both impactful and fast-paced.

• Provide excellent customer service by responding, acknowledging and providing solutions to our external and internal clients' needs in all things related to Foreign Exchange, Foreign Currency payments and clients' Multi-Currency Accounts (MCAs).
• Supervise the processing of all foreign currency payments, including outgoing wire requests, incoming payments, draft collections and cash letters.
• Maintain client contact when required. Oversee the execution of client transactions and minimize trade and fee losses.
• Monitor that all systems are functioning as expected including Clients' Online Banking, File transfer protocols (File Handler), FX system of record, the bank's SWIFT gateway/service bureau, and others.
• Lead and develop a team; responsible for hiring, coaching, performance management, training and development. Ensuring coverage is always maintained, especially during team member absences. You may be required to step in and process trades/transactions as needed.
• Provide excellent service working with our foreign and domestic correspondent banks and their representatives to resolve any open investigations and outstanding items.
• Manage and maintain foreign correspondent (Nostros) accounts in foreign currency (and in U.S. Dollars), ensuring daily reconciliation in coordination with the Accounting and Middle office teams.
• In partnership with the Middle Office and Business Risk Manager, manage, maintain, and comply with all Risks and Compliance standards as defined by the Bank's Risk and Compliance Standards (RCSA) and Inventory (RCIs).

What you'll need:

• Minimum 7 years of related foreign exchange and payments experience, preferably at a bank of financial institution.
• Bachelor's degree or equivalent experience required, preferably in Business Management, International Finance or a related field.
• Proven leadership experience required.
• Advanced knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
• Advanced knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
• Advanced experience working with SWIFT, Finzly, Wire Transfers and other Foreign Exchange related activities.
• Advanced speaking and writing communication skills.
• Occasional travel required.

Benefits you'll love:

We offer all the important things you'd want — like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career

About the company:

Western Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation. Alliance Bank of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank are divisions of Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western Alliance Bank company.

Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email

or call When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.

Western Alliance Bancorporation