VP Foreign Exchange Sales

Bank of Utah • Salt Lake City, UT

4d • Onsite

About The Position

The VP Foreign Exchange Sales leads the development and growth of the Bank’s foreign exchange (FX) business by acquiring new clients, deepening existing relationships, and delivering responsive, needs-based FX solutions. The role serves as the primary contact for FX clients and partners with bankers and internal teams to support transactions, appropriate pricing, credit underwriting, and reliable execution and settlement. The position is accountable for FX revenue growth, profitability, revenue collection, and coordination of daily activities within approved policies, risk limits, and delegated authority.

The role develops and executes an FX sales plan, manages client relationships and business opportunities, monitors revenue and profitability, and coordinates pricing, credit, transaction execution, compliance, and settlement activities. It also assists with team operations and training, monitors market developments, maintains reporting, and recommends process and policy improvements. The position is based at the Bank’s Salt Lake City, Utah branch and works Monday through Friday. Attendance is an essential function; travel to client meetings and business development activities may be needed.

Requirements

• Minimum of 10 years of foreign exchange experience, with demonstrated success in FX sales, business development, and client relationship management.
• Strong knowledge of FX markets, transactions, pricing, transaction workflows, and currency exposures associated with clients’ business activities.
• Understanding of credit risk, including financial analysis, counterparty exposure assessment, and preparation of credit recommendations.
• Demonstrated ability to acquire new business, expand existing relationships, manage a sales pipeline, and achieve assigned revenue and profitability goals.
• Exceptional interpersonal, consultative sales, negotiation, and presentation skills, including the ability to explain FX products, pricing, and risks clearly to clients and internal partners.
• Ability to analyze income statements, pricing, margins, and revenue trends and translate findings into business recommendations.
• Working knowledge of compliance requirements and internal controls relevant to FX activities, including customer due diligence, anti-money laundering, sanctions screening, and protection of confidential information.
• Strong judgment, attention to detail, and organizational skills, with ability to manage competing priorities and time-sensitive transactions.
• Ability to collaborate across sales, credit, operations, treasury, and compliance functions and provide practical training and guidance to team members.
• Proficiency with business productivity tools and ability to use FX transaction platforms, client relationship management systems, and financial reporting tools.
• Ability to travel to client meetings and business development activities as needed and meet the Bank’s driving requirements.

Responsibilities

• Develop and execute an FX sales plan aligned with the Bank’s objectives and annual assigned goals; identify prospects, cultivate referral sources, manage an active pipeline, and convert opportunities into long-term client relationships.
• Serve as the primary FX contact for clients, understand their international payment needs and currency exposures, identify opportunities to expand service relationships, follow up promptly, and coordinate resolution of client concerns.
• Explain approved transactions, transaction terms, costs, and material risks clearly, aligning proposed solutions with documented client needs and Bank product parameters without promising market outcomes.
• Partner with relationship managers and other business lines to identify FX opportunities, conduct joint client calls, support referrals, and coordinate the client experience.
• Manage the FX income statement and revenue growth; monitor revenue, expenses, transaction volume, and margins, analyze results against goals, and recommend actions to improve sustainable profitability.
• Establish client FX pricing within approved guidelines and delegated authority; coordinate accurate revenue recording, reconciliation, and timely collection, and escalate discrepancies or overdue balances.
• Evaluate credit risk, prepare or coordinate credit requests, obtain required approvals before commitments, monitor client exposures and approved limits and terms, and escalate exceptions.
• Coordinate with authorized trading, treasury, and operations personnel on quotations, transaction execution, confirmations, payment instructions, and settlement; promptly help resolve trade discrepancies and settlement issues while maintaining separation of duties.
• Follow applicable requirements, Bank policies, approval authorities, and internal controls; coordinate client onboarding, due diligence, sanctions screening, and documentation with responsible teams; promptly escalate unusual activity, control concerns, limit breaches, and other exceptions.
• Assist with team operations, scheduling, workload, and workflow, and provide training and guidance on FX products, sales practices, processes, and controls.
• Monitor currency market developments and competitive conditions and share relevant information with clients and internal partners.
• Maintain accurate client, pipeline, and transaction records; report on sales activity, revenue, profitability, exposures, and service issues; recommend product, workflow, and control improvements and FX credit policy changes to the Loan Committee through established governance processes.
• Meet attendance requirements as an essential job function.
• Perform other duties as assigned.

Benefits

• Great work-life balance with a Monday-Friday schedule.
• Competitive pay and benefits, including medical, dental, and vision plans.
• 401(k) plan and match up to 5 percent in the employee stock ownership program, subject to eligibility requirements.
• 12 paid bank holidays, paid time off, and paid parental leave.
• Volunteer opportunities in the communities where employees work and live.
• Awards and recognition for employees and colleagues who live the Bank’s values.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed