Derivatives Transaction Management
- Maintaining MIS of foreign currency exposures by regularly updating it with data from various teams, including CPC, Projects, Birla White, and BPD.
- Receiving purchase order alerts, verifying details in SAP and ensuring all relevant data is captured in the MIS.
- Managing incoming reports related to marine operations, shipping freights, and export invoices, ensuring timely updates to the MIS.
- Earmark covers against exposures, advising on earmarked Cover IDs at the time of payments and making necessary adjustments as market conditions change.
- Executing options strategies for hedging one-third of total exposures, deriving pricing for various combinations (e.g., Buy Call, Sell Put) and preparing quote summaries for comparison.
- Run the RFQ (Request for Quote) process with top banks, negotiating terms, and finalizing deals, including initial confirmations and updating trades in the Option MIS.
- Ensuring all transaction documentation is complete, including obtaining final term sheets and ensuring countersignatures within stipulated timeframes
Market Monitoring and Optimization
- Monitoring bank-wise, month-wise net open exposure position on a live basis, ensuring compliance with internal policies on Forex exposures
- Reviewing trade finance emails for updates on value, due dates, and bank changes to existing exposures.
- Setting alerts for option expirations, conducting regular assessments of outstanding options against market movements and the likelihood of barriers.
- Tracking market movements, particularly in the lead-up to option expirations, to determine the need for re-coverage of exposures.
- Managing the settlement of options on maturity, handling net settlements or delta transfers and coordinating for forward coverage as needed
Reporting and Documentation
- Preparing compliance notes for hedge accounting regarding option strategies and ensure adherence to relevant financial regulations.
- Report cash flow for option premiums to the finance team, verifying payment details and coordinating with the UKSC team for accounting purposes.
- Monitoring forward points for currencies, making strategic decisions about rolling over or booking hedges in response to market conditions.
- Verifying term sheets and scenarios for various financial products, including IRS and Call-Spread options, ensuring all documentation is thorough and accessible for audit
Audit, Risk & Compliance
- Adhere to risk management protocols
- Comply to all necessary SOP for the function and ensure all compliances are met
- Support audit requirements by providing all necessary documentation and data
Continuous Improvements
- Identifying process and system improvements and provide recommendations.
- Implementing necessary changes in process and system basis the finalized improvements
