IBO Foreign Exchange Specialist

Hancock Whitney • New Orleans, LA

1d

About The Position

The Foreign Exchange Specialist 1 is responsible for the accurate and efficient processing of foreign exchange transactions, including foreign checks, currency wires, and banknote exchanges. This role supports the bank’s foreign exchange operations by handling investigations, managing account balances, reconciling suspense accounts, and providing excellent service to bankers and clients. The Specialist also contributes to maintaining compliance with regulatory requirements and may assist with special projects or other areas of International Banking operations as needed.

Requirements

• 2 years of relevant experience in foreign exchange or international banking.
• Knowledge of foreign exchange systems and processes is an asset.
• Strong understanding of foreign exchange products, including wires and forward contracts.
• Knowledge of regulatory requirements such as OFAC and BSA/AML.
• Excellent verbal and written communication skills.
• Proficiency in reconciliation and managing financial accounts.
• Ability to work under stress and meet deadlines

Nice To Haves

• Associate degree in Business, Finance, or Accounting preferred.

Responsibilities

• Process foreign checks through Cash Letter and Check Collection.
• Book, instruct, and release foreign currency wires in the FX wire system, including handling investigations and processing returns.
• Prepare cash letters and process outgoing check collections and payments received.
• Provide rate quotes for foreign exchange wires and forward contracts to bankers and clients.
• Place online orders for foreign currency funding and banknotes for downstream banks.
• Monitor and manage the bank's foreign currency account balances.
• Reconcile the department’s suspense general ledgers (GLs) to ensure accuracy and compliance.
• Ensure adherence to regulatory requirements, including OFAC, BSA/AML, and internal policies.
• Respond to inquiries from bankers and clients, offering guidance on foreign exchange transactions.
• Communicate effectively to explain complex foreign exchange products, including forward contracts.
• Support other areas of International Banking Operations as needed.
• Participate in special projects and contribute to process improvement initiatives.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree