Regional Head (West) - Forex Business

Job Position: Regional Head / VP (West) - Forex Business Department: Sales & Operations Job Location: Mumbai, Andheri E Industry: AD-I / AD-II Years of Experience: 15+ Reports to: MD / CEO Forex Division Compensation: Best in Industry   ABOUT US: As part of the Multicon Group , a dynamic conglomerate with diverse interests, MultiMoney Forex stands out as a leader in foreign exchange services. Backed by a legacy of excellence, we are committed to delivering seamless and hassle-free currency exchange, ensuring financial peace of mind for our clients. Licensed by the Reserve Bank of India (RBI) as an Authorized Dealer Category II Foreign Exchange House , we rank among the top money exchangers nationwide. Headquartered in Kolkata , MultiMoney Forex operates a strategic network of 30 branches across key cities in India. With a proven track record of facilitating over a million US dollars in telegraphic transfer remittances, we are dedicated to providing swift, secure, and efficient financial solutions.   POSITION OVERVIEW: The Forex Regional Head will be responsible for establishing and expanding Multicons Forex business across the West region, starting with the main office in Mumbai and setting up branches across the West Region . This leadership role demands a dynamic individual to spearhead business development efforts across retail, cross border remittances, and strategic alliances. The incumbent will focus on generating revenue, expanding the client base, and building a strong operational framework for the region.   KEY ACCOUNTABILITIES / ROLES & RESPONSIBILITIES: Forex Expertise & Compliance (AD1 & AD2)

• Oversee AD1/AD2 Forex operations, ensuring strict compliance with RBI guidelines and all regulatory requirements.
• Supervise authorization, compliance, and reporting for trade and remittance transactions within AD1 & AD2 frameworks.

• Administer the growth of the Forex business, focusing on revenue, profit margins, and geographical expansion.
• Provide strategic direction by analysing the business environment, regulatory frameworks, consumer behaviour, and technology trends.
• Define and implement competitive strategies to ensure vibrant topline growth.
• Target the company’s ranking among the Top Money Changers (AD2) in retail foreign exchange.
• Build and lead a high-performing team with deep expertise in Forex and AD operations, ensuring operational excellence and regulatory compliance.

• Spearhead the launch and scaling of Forex operations in key markets such as Goa, Pune, Surat, and Baroda.
• Identify & penetrate growth segments in retail Forex/trade Forex/cross-border remittances to expand market share.
• Establish strategic partnerships for new products and services, including alliances with banks for prepaid cards, outward remittances, and cross-selling of financial services.
• Develop partnerships for co-branded and white-labelled prepaid Forex cards and manage service delivery logistics with banking alliances.

• Set up and grow the outward remittance business by forging partnerships with banks for pre-signed drafts and remittance arrangements.
• Introduce innovative solutions in prepaid cards, import/export of foreign currency notes, and remittance services to strengthen the company’s market position.

• Drive the regional P&L, focusing on revenue, optimizing costs, & ensuring sustainable profitability.
• Develop competitive pricing strategies, commission models, and incentive structures to enhance profitability.
• Analyse and report on the profitability of each branch, implementing targeted initiatives to achieve financial goals.

• Develop and execute strategies to grow the retail and corporate Forex client base, increasing transaction volumes.
• Offer tailored Forex solutions to meet the needs of corporate clients for trade and remittance services.
• Enhance the company’s market positioning through cross-border remittance services and strategic alliances.

• Cultivate strong relationships with retail and corporate clients to ensure superior service delivery and long-term retention.
• Serve as a trusted advisor to clients, delivering strategic solutions aligned with their Forex needs.
• Address client concerns promptly, maintaining satisfaction and loyalty.

• Conduct in-depth market analysis to identify growth opportunities, emerging trends, and areas for innovation.
• Recommend and implement new products or services to maintain a competitive edge in the Forex market.
• Align regional strategies with the company’s long-term vision for growth in the Forex industry.

• 15+years of rich experience in the Forex, Fintech or financial services industry, withatleast5years in a regional leadership role.
• Bachelor’s degree in Finance, Economics, Business Administration, or a related field, with an MBA or equivalent advanced degree preferred.
• Strong expertise in business development, with a track record of building and scaling business operations.
• Comprehensive understanding of Forex market regulations, trends, and competitive landscape in the West region.
• Demonstrated leadership experience, with the ability to set up and manage multiple branches across different cities.
• Strong people management skills, with experience in recruiting, training, and leading a cross-functional team.
• Strategic thinker with the ability to drive business results while building a strong operational foundation.
• Proven success in generating revenue through retail, corporate, and strategic alliances in the Forex market.
• Exceptional communication and negotiation skills, with a strong network of clients and partners within the financial services sector.
• Ability to close high-value deals and maintain long-term client relationships
• Strong analytical and financial management skills, with the ability to interpret market data and make strategic decisions.
• Proficiency in CRM systems and business management tools.
• Excellent organizational, problem-solving, and multitasking abilities.

• We take pride in having a team of energized professionals who are among the best in the industry.
• At Multicon, you’ll be empowered to take on diverse challenges that align with your career aspirations • We support your growth through development programs, mentorship, and training
• Our wide network across multiple sectors provides you with visibility and access to professionals globally, enabling you to learn and sharpen your skills.