Manager- Forex

The Manager – Forex will play a critical role in managing the Company’s foreign exchange risk across global operations. The position will be responsible for identifying, measuring, monitoring, and mitigating currency risks arising from exports, imports, intercompany transactions, overseas investments, and external borrowings.

The role requires a strong understanding of global forex markets, regulatory frameworks, and treasury best practices, particularly within a highly regulated pharmaceutical environment. The incumbent will support strategic decision-making by providing timely market insights, ensuring robust governance, and aligning forex risk management with business and financial objectives.

This role demands close collaboration with global finance teams, tax, supply chain, business units, banks, and auditors, while ensuring strict compliance with regulatory and internal control requirements applicable to a listed entity.

Key Responsibilities

1. Foreign Exchange Risk Management

• Identify and quantify foreign exchange exposures across the Group, including transactional, translational, and economic risks.
• Develop, implement, and continuously refine forex risk management strategies in line with the Company’s treasury policy and risk appetite.
• Ensure optimal hedge coverage for forecasted and firm exposures while balancing cost, flexibility, and risk mitigation.

2. Hedging and Deal Execution

• Execute and manage hedging transactions such as forward contracts, options, swaps, and other permitted instruments.
• Ensure timely deal execution, confirmation, settlement, and documentation in coordination with banks and internal teams.
• Monitor hedge effectiveness and take corrective actions as required based on market movements and business changes.

3. Market Analysis and Advisory

• Track global currency markets, interest rate movements, and macroeconomic developments impacting the Company’s forex exposure.
• Provide regular market updates, forecasts, and scenario analysis to the Global Head – Treasury and senior finance leadership.
• Advise business teams on pricing, contract structuring, and commercial terms from a forex risk perspective.

4. Regulatory Compliance and Governance

• Ensure full compliance with FEMA, RBI guidelines, and other applicable Indian and international forex regulations.
• Maintain robust internal controls, documentation, and audit trails for all forex transactions.
• Support internal audits, statutory audits, and regulatory inspections related to forex and treasury activities.

5. Accounting, Reporting, and Controls

• Coordinate with finance and accounting teams on forex-related accounting, including mark-to-market valuation, hedge accounting, and disclosures.
• Review and analyze forex gains/losses and their impact on profitability and cash flows.
• Prepare detailed periodic reports, dashboards, and management presentations covering exposures, hedge positions, compliance status, and risk metrics.

6. Stakeholder and Bank Relationship Management

• Manage relationships with domestic and international banks, ensuring competitive pricing, service quality, and risk diversification.
• Liaise with internal stakeholders including tax, supply chain, commercial, and global finance teams to align forex strategy with operational needs.
• Support cross-functional initiatives such as global supply chain optimization, intercompany funding, and overseas expansion from a forex standpoint.

7. Systems, Processes, and Continuous Improvement

• Support implementation and enhancement of treasury management systems (TMS) and automation of forex-related processes.
• Drive standardization and best practices across global subsidiaries for forex management and reporting.
• Contribute to treasury transformation initiatives, policy updates, and process documentation.

Required Qualifications

• Chartered Accountant (CA), MBA (Finance), CFA, or equivalent professional qualification.
• Minimum 8–12 years of relevant experience in forex and treasury management, preferably within a multinational manufacturing or pharmaceutical organization.
• Strong hands-on experience in managing multi-currency exposures and executing hedging strategies.
• Sound understanding of Indian forex regulations (FEMA, RBI) and exposure to international treasury practices.
• Experience working in a listed company environment with strong governance and compliance requirements.

Preferred Skills and Competencies

• Prior experience in the pharmaceutical or life sciences sector , particularly export-driven and regulated markets.
• Strong analytical skills with the ability to interpret complex financial data and market information.
• Excellent attention to detail, control mindset, and risk awareness.
• Effective communication and presentation skills, with the ability to engage senior management and global stakeholders.
• Proficiency in treasury management systems, ERP platforms (e.g., SAP), and advanced Excel or financial modeling tools.
• Ability to work independently, manage multiple priorities, and operate effectively in a fast-paced global environment.
• High standards of integrity, confidentiality, and professionalism.