Papaya Global is a rapidly growing, award-winning B2B tech unicorn with a mission to revolutionize the payroll and payments industry. With over $400M raised from top-tier investors, our innovative technology provides a comprehensive solution for managing global workforces, from hiring and onboarding to managing and paying employees in over 160 countries.
The FX Manager will be a critical leader within the Treasury team, responsible for the strategic analysis, pricing, and execution of the company’s FX and cross-border payment offerings. This role requires deep market expertise, strong analytical skills, and demonstrated leadership to drive impactful, data-driven decisions across the business. You will be accountable for FX risk management, pricing strategy, customer insights, liquidity optimization, and cross-functional collaboration to support scalable and competitive FX operations.
Key Responsibilities
1. FX Risk Management & Hedging
- Identify, monitor, and manage multi-currency exposures across products and operational flows.
- Develop and execute hedging strategies (forwards, options, NDFs, limit orders) to mitigate market and balance sheet risks.
- Oversee daily exposure calculations and ensure adherence to internal risk frameworks.
- Manage collateral requirements and credit lines for FX derivatives.
2. FX Dealing, Execution & Liquidity Optimization
- Execute FX trades with liquidity providers and banking partners, ensuring competitive pricing and best execution.
- Evaluate LP performance, pricing quality, and execution reliability.
- Optimize internal currency matching/netting to reduce external conversions and bank FX fees.
- Enhance settlement efficiency, reduce slippage, and maintain strong STP performance.
3. FX Pricing, Customer Insights & Market Intelligence
- Support the development and maintenance of FX pricing strategies, including tiered pricing models and margin structures aligned with customer behavior, volume patterns, and market conditions.
- Conduct customer segmentation to understand FX usage trends and transaction behaviors.
- Build predictive models to anticipate FX demand and behavioral triggers (e.g., wallet top-ups, international payments) and support related liquidity positioning.
- Monitor global macroeconomic trends, central bank policy, and market liquidity to guide pricing and risk decisions.
- Deliver clear periodic FX market updates, scenario analyses, and short- to medium-term FX forecasts to support treasury and planning.
4. Product, Engineering & Cross-Functional Collaboration
- Serve as the FX Subject Matter Expert across product, engineering, compliance, finance, and operations.
- Support the design and launch of new products with embedded FX capabilities.
- Translate market, regulatory, and technical requirements into actionable business specifications.
- Partner with engineering to optimize automation of FX systems, pricing engines, liquidity connectors, and STP flows.
5. Reporting, Compliance & Governance
- Produce FX performance reports covering revenue drivers, exposure, hedge effectiveness, and cost of funds.
- Ensure compliance with global FX regulations (MiFID II, PSD2, T+1, local payment requirements).
- Liaise with auditors, regulators, and compliance teams on FX governance and control frameworks.
- Bachelor’s degree in Finance, Economics, Mathematics, Engineering, or a related field; CFA/FRM beneficial.
- 5–7+ years of experience in FX pricing, risk management, treasury, or cross-border payments.
- Experience in Fintech and cross-border payments company preferred
- Strong understanding of FX markets, derivatives, pricing mechanisms, and liquidity management.
- Proficiency with analytical tools (Excel, SQL, Python, or similar).
- Experience with FX pricing engines, execution platforms, and multi-currency payment systems.
- Excellent communication skills with the ability to simplify complex topics and influence stakeholders.
- Demonstrated leadership or cross-functional influence.
- Strong commercial acumen and risk awareness.
- Advanced analytical and quantitative skills.
- Ability to thrive in fast-paced, high-growth environments.
- Effective collaboration and stakeholder management.
- Detail-oriented, proactive, and execution-focused.
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