Req ID: 490127
BASIC PURPOSE: Musket Europe, SARL is looking for a FX Manager based in Geneva, Switzerland to own and evolve the company's foreign exchange risk management function. This is a build-and-run role: the person in this seat will need to critically assess our current approach to identifying, tracking, and managing FX exposure, and actively improve the systems and processes behind it - not just administer what already exists.
FX exposure at Musket arises from both above-the-line items (trading and commercial activity - physical and paper positions, pricing exposure on commodity flows denominated in or linked to foreign currencies) and below-the-line items (financing, balance sheet translation, intercompany funding, and other non-operating exposure). The Head of FX will be responsible for building a clear, complete picture across both, and for managing the resulting exposure in a disciplined, well-governed way.
This role sits at the intersection of treasury, trading, and technology - equal parts risk management, relationship management, and process ownership.
MAJOR RESPONSIBILITIES:
Exposure identification and tracking
• Identify, quantify, and track FX exposure generated by both above-the-line (trading/commercial) and below-the-line (financing/balance sheet) activity
• Maintain a consolidated, accurate view of exposure across all currencies and entities in scope
• Flag emerging or unusual exposure promptly to relevant stakeholders
Risk management
• Develop and execute hedging strategies appropriate to the underlying exposure and the company's risk appetite
• Monitor and manage exposure across Europe, North America, and potentially parts of Latin America, adapting the approach to the liquidity, volatility, and regulatory characteristics of each region
• Continuously reassess hedging approach as the business and its geographic footprint evolve
Systems and process ownership
• Learn the current FX tracking/management system and processes in detail
• Identify gaps, inefficiencies, and manual workarounds, and drive improvements - this role owns making the system genuinely fit for purpose, not just operating it as-is
• Partner with technology/IT stakeholders as needed to implement improvements
Stakeholder and counterparty management
• Liaise closely with internal stakeholders, including traders and commercial teams, to understand upcoming and existing exposure
• Serve as the primary point of contact with external FX counterparties (banks, brokers) - sourcing pricing, executing hedges, and managing these relationships professionally and effectively
• Communicate exposure, hedging activity, and risk positions clearly to internal leadership
Reporting and governance
• Produce regular, clear reporting on FX exposure and hedging activity for internal stakeholders and management
• Help define and maintain appropriate FX policy and governance as the function matures
QUALIFICATIONS AND EXPERIENCE:
Experience:
• 5+ years of experience in a Middle Office function, ideally within a trading house, bank, or commodity-trading environment
• Direct FX experience is not required - we're looking first and foremost for strong Middle Office fundamentals and the ability to learn, adapt, and improve a function quickly. Candidates from adjacent asset classes (commodities, rates, credit, etc.) are encouraged to apply
• Demonstrated experience tracking and managing risk/exposure in a real operating environment, not purely theoretical/academic knowledge
• Strong interpersonal and communication skills - this person will be regularly interacting with the market (counterparties, banks, brokers) as well as internal traders and stakeholders, and needs to be credible and effective in both settings
• Comfort working across multiple currencies and regions simultaneously (Europe, North America, and ideally some Latin America exposure)
• A genuinely curious, improvement-oriented mindset - someone who will actively question and refine how things are done, not just maintain the status quo
