Position Title
Foreign Exchange Operations Associate
Location
New York, NY 10018
Job Summary
A Foreign Exchange (FX) Operations Specialist will support the processing, settlement and reconciliation of foreign currency transactions. This position is responsible for ensuring timely execution of FX trades and related cash flows, maintaining compliance with internal controls and supporting operations.
Pay Range: $23.73 - $30.26 - $36.78

Job Responsibilities:

• FX Trade Processing and Confirmation: Accurately input, match and confirm FX trades using the bank’s platforms. Verify trade data, settlement instructions and counterparties.
• Settlement Coordination and Execution: Ensure accurate and timely settlement of FX trades. Coordinate with counterparties, custodians, and FX front office. Monitor Nostro accounts and manage currency funding.
• Reconciliation and Break Resolution: Perform daily reconciliation of FX transactions and investigate unmatched trades, failed settlements or rate discrepancies.
• Regulatory Compliance: Ensure adherence to internal and external regulatory standards.
• Client and Internal Stakeholder Support: Communicate with relations managers, trading desks and operations teams to resolve inquiries, provide updated and escalate issues.
• Reporting and Documentation: Maintain accurate trade and settlement records. Assist in preparing internal reports, regulatory disclosures and audit documentation.
• Cross Functional Support, Training, System Testing, Process Improvement: Support peer training, contribute to cross training as needed. Participated in system upgrades, workflow enhancements and control testing related to FX.
• Uses knowledge-based judgement and discretion to make decisions pertaining to FX processing.
• Analyzes and resolves problems pertaining to FX processing.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

• Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent
• Minimum experience required: 2+ Years experience in banking operations, foreign currency transactions, international wire transfers or treasury services.
• Hands-on experience with SWIFT messaging and international payment platforms
• Familiarity with foreign currency exchange rates, currency conversions and settlement cut-off time across global markets
• Proficiency in Microsoft Office Suite

Preferred Qualifications:

• Education level preferred: Undergraduate Degree (4 years or equivalent) in Business Administration, Finance or a related field. Comparable work experience is also considered.
• Experience using wire processing platforms, core banking systems and FX trade tools
• Understanding of the compliance controls associated with cross-border wire transfers and foreign currency transactions.

Job Competencies:

• Strong attention to detail and ability to manager transaction discrepancies
• Excellent communication skills, both verbal and written, for client support and internal coordination.
• Solid problem-solving and analytical skills
• Strong team collaboration and organizational discipline
• Abilit to work in a fast-paced, high-volume environment with strict deadlines.
• 10% or less
• Physical demands (ADA): The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.

Flagstar is an Equal Opportunity Employer
Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information:
Benefits | Flagstar Ban

• FX Trade Processing and Confirmation: Accurately input, match and confirm FX trades using the bank’s platforms. Verify trade data, settlement instructions and counterparties.
• Settlement Coordination and Execution: Ensure accurate and timely settlement of FX trades. Coordinate with counterparties, custodians, and FX front office. Monitor Nostro accounts and manage currency funding.
• Reconciliation and Break Resolution: Perform daily reconciliation of FX transactions and investigate unmatched trades, failed settlements or rate discrepancies.
• Regulatory Compliance: Ensure adherence to internal and external regulatory standards.
• Client and Internal Stakeholder Support: Communicate with relations managers, trading desks and operations teams to resolve inquiries, provide updated and escalate issues.
• Reporting and Documentation: Maintain accurate trade and settlement records. Assist in preparing internal reports, regulatory disclosures and audit documentation.
• Cross Functional Support, Training, System Testing, Process Improvement: Support peer training, contribute to cross training as needed. Participated in system upgrades, workflow enhancements and control testing related to FX.
• Uses knowledge-based judgement and discretion to make decisions pertaining to FX processing.
• Analyzes and resolves problems pertaining to FX processing