Foreign Exchange Payment Operations Specialist chez Umb

Duties & Responsibilities

Transaction Processing & Settlement

• Oversight of incoming and outgoing FX payments across multiple currencies and settlement systems
• Oversight of trade details that are entered into the bank’s operations system in alignment with front-office confirmations.
• Ensure timely settlement of FX spot, forward, swap, and option transactions.

Reconciliation & Investigations

• Perform daily reconciliations of nostro/vostro accounts and investigate discrepancies.
• Resolve settlement fails, payment delays, and trade breaks in coordination with counterparties, custodians, and internal teams.
• Maintain accurate records for audit and regulatory purposes.

Compliance & Risk Control

• Ensure adherence to internal risk controls, operational procedures, and anti-money laundering (AML) / sanctions screening requirements.
• Escalate unusual activity or potential fraud to compliance and management promptly.
• Support compliance with global regulatory reporting requirements

Client & Internal Support

• Provide operational support to corporate and institutional clients for FX transactions.
• Liaise with front-office traders, relationship managers, and treasury teams to ensure smooth trade execution.
• Address client inquiries regarding payment status, transaction charges, and settlement timelines.
• Prepare and present reports on foreign exchange activities for presentation to senior management.
• Provide client portal training to existing and prospective clients
• Develop & maintain relationships with partner banks
• Provide training and support to other team members on foreign exchange matters.

Continuous Improvement

• Contribute to process improvement initiatives to enhance operational efficiency and reduce settlement risk.
• Participate in testing and implementation of system upgrades or new payment platforms.
• Perform other duties as assigned

Knowledge & Skills

MINIMUM:

• Strong understanding of international payment systems and SWIFT message formats (MT103, MT202, MT300, etc.).
• Strong understand of the global currency markets
• Proficiency in FX trading platforms and financial software
• Familiarity with FX products (spot, forward, swaps, options).
• Knowledge of AML, sanctions screening, and regulatory requirements for cross-border transactions.
• Proficiency in Microsoft Excel and banking operations systems
• High attention to detail, strong problem-solving skills, and ability to work under tight deadlines.
• Ability to communicate clearly with coworkers, managers, business partners, and clients, written and verbally
• Ability to utilize technical aptitude that allows for quick learning of company systems, platforms, and products
• Demonstrates ability to work effectively in a team environment
• Demonstrate knowledge of risk types and ability to mitigate independently or escalate appropriately
• Possesses strong customer services skills
• Ability to work autonomously, escalating issues or problems as appropriate
• Ability to recognize errors, issues, special requests, or inconsistencies in daily operations to solve or escalate to appropriate associate or manager

PREFERRED:

• Accuracy and attention to detail in high-volume, high-value environments.
• Strong communication skills for interaction with global counterparties and clients.
• Ability to prioritize tasks and manage time effectively.
• Adaptability to changing regulatory, technological, and market environments 
• Ability to understand processes end to end and cross-functional work with other operational units
• Demonstrates strong problem-solving skills
• Strong analytical skills

Requirements

MINIMUM:

• Bachelor’s degree in finance, Business, Economics, or related field
• 5 years of experience in FX payment operations and FX settlements within a banking environment.

PREFERRED:

• 5+ years of experience in FX payment operations and FX settlements within a banking environment.

Work Environment:

Hybrid

Supervision/Management: 

None

Compensation Range:

The posted compensation range on this listing represents UMB’s standard for this role, but the actual compensation may vary by geographic location, experience level, and other job-related factors. In addition, this range does not encompass the full earning potential for this role. Please see the description of benefits included with this job posting for additional information

UMB offers competitive and varied benefits to eligible associates, such as Paid Time Off; a 401(k) matching program; annual incentive pay; paid holidays; a comprehensive company sponsored benefit plan including medical, dental, vision, and other insurance coverage; health savings, flexible spending, and dependent care accounts; adoption assistance; an employee assistance program; fitness reimbursement; tuition reimbursement; an associate wellbeing program; an associate emergency fund; and various associate banking benefits. Benefit offerings and eligibility requirements vary.

Are you ready to be part of something more?
You're more than a means to an end—a way to help us meet the bottom line. UMB isn't comprised of workers, but of people who care about their work, one another, and their community. Expect more than the status quo. At UMB, you can expect more heart. You'll be valued for exactly who you are and encouraged to support causes you care about. Expect more trust. We want you to do the right thing, no matter what. And, expect more opportunities. UMBers are known for having multiple careers here and having their voices heard.

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