Commodities Market Risk Analyst - Brussels

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From Brexit to international trade tensions, recent economic turbulence has highlighted one thing more clearly than ever: risk management strategies have to be in place to protect profits for businesses trading internationally. If you are an FD or fund manager; many hours of expertise are poured into choosing the right opportunities and tracking yields, but if there is an international element to the investment, even a small change in the currency exchange rate can have a significant effect on profit or the value of returns. With currency rates fluctuating up to five percent in a month last year, volatility is a real threat to any international business transaction. Five percent profit or gains in an investment are hard earned, and can be quickly lost with an unfortunate turn in the exchange rates. The uncertainty exacerbated by Brexit has caused hesitancy to purchase currency with a “wait and see” approach; dealing all FX on spot with their incumbent banking provider. But large swings in rates means that currency volatility and pricing have become higher on the agenda for many; highlighting the need to get the best from a reputable provider. Working to develop strategies based on the unique needs of a business or the requirements of each fund means budgeted levels can be set and protected. If you are trading internationally, you may want to speak to a qualified risk management consultant to consider the following steps: Understand your exposures Businesses could struggle to manage currency risk without understanding where exposures exist and reviewing what they currently do to protect themselves from volatility. Start by assessing your goals, risk appetite, and tolerance to volatility. Is there a budgeted level which is used for accounting purposes? Consider, for example, credit needs and payment requirements such as cost of transfers, bulk payments or international routing. Create a strategy With an understanding of your objectives, you have the power to start making informed decisions. Identify some goals specific to managing currency risk. These could include defining a target exchange rate for some, or all your exposure. Consider establishing a formal risk management policy to define processes. Select the right risk management tools for your business remembering that one size does not fit all. Tactics and execution Once the most appropriate tools have been selected, applying the right trading tactics can mean the difference between success and failure. For a lot of businesses, the strongest strategies often recognise a framework for executing trades at favourable levels while protecting against material risks. It may also be important to review the market and identify recent trading patterns to understand the risks and opportunities available. Evaluate and adapt your strategy Just because a policy has been in place for a long time does not necessarily mean it is still relevant in the current market conditions. Monitor your strategy and consider adapting it to identify shortfalls and build on success. Use a platform which can provide thorough and detailed reporting to assist your decision making. As a provider of cross-currency, cross border payments around the world, Western Union Business Solutions (WUBS) recognises that for a lot of our clients, foreign exchange volatility should be limited as a risk factor. WUBS can offer products which match your strategic currency objectives depending on the needs of your business. In addition, we offer competitive spot rates, optimal routing and cost effective transfers. Our globally leading online platform not only facilitates online payments and bulk upload but can also give real time access to positions and mark to market valuations. Our 10th edition of our highly regarded Market Insight Report represents the views of over 1,100 professionals, and contains insights from our specialist consultants and key business partners on market and employment trends. If you’re looking to find out more on salary benchmarking and the motivations driving the modern workforce today, download our full report which contains key contributions from Seddons Solicitors, Women in Fund Finance, Intoo UK & Ireland and Breaking the Silence.

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The UK has been abuzz with concern over cyber crime over recent months, with warnings from several different sources indicating that the country's businesses may not be taking the threat as seriously as it warrants. Security expert Dr Sally Leivesley is the latest to add her voice to this chorus, telling ITV's Daybreak presenters that the UK's status as a financial services hub makes it particularly vulnerable to attack. She argued that Britain has became "an open business sign" for opportunist hackers because of the potential profits to be made from damaging its wide-ranging network of banks, investment companies and other financial institutions. A spokesman from the Home Office emphasised that the government is taking action to limit online criminal activity and warned that businesses must not become complacent about the threat posed by  this kind of disruption. Home Affairs Committee Chair, MP Keith Vaz, said: "We need to establish a state of the art espionage response centre. At the moment the law enforcement response to e-criminals is fractured and half of it is not even being put into the new National Crime Agency." What does this mean for financial services businesses? While one hopes the government's investment will be fruitful, it's obvious that companies should not rely on it as their sole bulwark against cyber crime. Just 21 per cent of the FTSE 350 company secretaries questioned in a recent Financial Times/ICSA Boardroom Bellwether survey felt they had identified their key information assets and taken action to mitigate the risk these face - this will need to change in the future. Although in the past cyber crime was an area largely confined to the small group of technical experts charged with setting up security systems, in the current climate it needs to become a boardroom issue, as well as one that is emphasised throughout an organisation. Spreading knowledge of the risks throughout a company can help stop mistakes from happening and gaps from being left in safety procedures. http://www.itv.com/news/story/2013-07-30/uk-losing-war-against-e-crimes/ http://www.ft.com/cms/s/0/b41a861a-e166-11e2-b796-00144feabdc0.html#axzz2aWJsSJJ9