Manager Foreign Exchange Sales

City National Bank

  • Los Angeles, CA
  • Permanent
  • Full-time
  • 2 days ago
MANAGER FOREIGN EXCHANGE SALESWHAT IS THE OPPORTUNITY?Reports to the Executive Vice President and head of Capital Markets (CM) and manages a team of Foreign Exchange (FX) sales colleagues. This leadership role requires deep product knowledge, sales expertise, strategic vision, as well as the ability to build, manage, and develop a high-performing team. This colleague is responsible for designing and executing a clear FX strategy around the bank's existing and target client base (primarily focusing on the middle market, mid-corporate, asset management, entertainment sectors). This colleague is also accountable for end-to-end product ownership to facilitate seamless delivery of customized FX solutions to clients. Ongoing collaboration with other groups that impact this delivery is critical (e.g. trading, middle and back-office operations, risk, compliance, legal, etc.).This role requires strong leadership and management skills including coaching, mentoring, and developing colleagues. Success will be measured on the achievement of business unit and CM division objectives, including but not limited to, meeting annual sales goals, successful execution of strategic initiatives, and fostering positive culture of collaboration, teamwork, and accountability with colleagues both within and outside of the division.WHAT WILL YOU DO?
  • Facilitate and take ownership of new business initiatives and be accountable for the creation and implementation of targeted FX strategy across various lines of business.
  • Proactively drive internal and external marketing and other activities to promote the bank’s FX products and services to attract new business from existing and new clients. Work with relationship managers to identify, pitch, and close FX opportunities with client suitability as a priority. Maintain knowledge of bank products and services, analyze customer needs, and cross-sell appropriate Capital Markets and other products.
  • Lead and manage a team of FX sales colleagues. Cultivate and strengthen our talent through coaching, mentoring, and ongoing development. Foster a positive culture of collaboration, teamwork, and accountability.
  • Work with Global Markets Trading and Risk team for transaction execution and market research. Ensure proper execution of FX transactions, including maintaining compliance with risk policies, procedures, and limits (e.g. counterparty credit, market risk, Volker, etc.).
  • Work with CM Business Management (which includes product management and business systems teams) and CM 1LOD Risk Management groups to develop or enhance new FX capabilities, identify and onboard additional electronic FX trading platforms, and execute FX strategic initiatives.
  • Work with CM support teams (e.g. middle office and back-office operations, risk, etc.) to ensure seamless execution of FX transactions for clients.
  • Maintain current and detailed understanding of the regulatory environment and a thorough understanding of market structure issues and the most pressing industry-related trends. Ensure compliance with all bank and regulatory policies, procedures, and requirements.
  • Ensures the proper documentation of sales efforts into Salesforce. Coordinates and reports on sales efforts – e.g. monthly and ad hoc reports of FX sales, including revenue, pricing effectiveness, volumes, etc.
  • Successfully drive and execute FX strategic initiatives.
WHAT DO YOU NEED TO SUCCEED?Required Qualifications*
  • Bachelor's Degree or equivalent
  • 12 years of Foreign Exchange sales and/or trading experience
  • 5 years of management experience
  • 15 years of banking experience (preferably in Capital Markets)
Additional Qualifications
  • Sophisticated understanding of foreign exchange products and their application to various types of clients, including expertise in advising on hedging of currency risk and other related portfolio management issues.
  • Detailed understanding of the regulatory environment and a thorough understanding of market structure issues and the most pressing industry-related trends. Deep knowledge of all procedures, best practices, escalation policies, and other codes of conduct relevant to the execution of the role.
  • Well-developed sales and client management skills, including existing and new business development.
  • Proven leadership and people management skills, including the ability to attract and develop talent.
WHAT'S IN IT FOR YOU?CompensationStarting base salary: $195,995 - $364,003 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.Benefits and PerksAt City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:
  • Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
  • Generous 401(k) company matching contribution
  • Career Development through Tuition Reimbursement and other internal upskilling and training resources
  • Valued Time Away benefits including vacation, sick and volunteer time
  • Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
  • Career Mobility support from a dedicated recruitment team
  • Colleague Resource Groups to support networking and community engagement
Get a more detailed look at our .ABOUT USSince day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at .INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENTCity National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

City National Bank