Get to know us: Q&A with some of our OFXperts

When did you start at OFX and what was your first role?

I started in November 2004. OzForex as it was known then had just recently moved into its first city office at Level 1, 4 Bridge St. My first role was Operations Manager but we only had the one location but each day was very broad as we all mucked in with everything including client calls.

How many people were working at OFX?

My official employee number was 20, but there were only six or eight of us as full-time employees at the time. This included a Marketing Manager who doubled as the Private Client manager, one IT person who did everything including design and coding, a Corporate Manager, someone doing Accounts payable and Operations. But also not forgetting Matt Gilmour.

How has your career developed in your time at OFX?

Being with a smaller company has really allowed me to get involved in functions that are done by committee or project teams in larger banking organisations, often who are removed from people who do the actual day to day. This has allowed me to gain a much better overall understanding of the whole client journey right from acquisition through onboarding, compliance, dealing, and treasury before it hits operations at the final stage. Personally it’s allowed me to be more subjective to the overall needs of the business rather than purely focused on the physical payment.

What do you think we do differently now compared to earlier OFX?

We have a lot more data insights now into a huge range of things that we didn’t have before. A lot of items were done by trial and error and while for the most part they paid off, it was more through experience and determination that they succeeded rather than using quantitative data to make an informed decision.

What have been your personal highlights?

Being able to relocate to the UK, even though Toronto was also offered to me at one point, which was politely declined as I can’t handle that sort of cold. Im also proud that some of the people I hired very early are actually still with the company, including Lyndal Giblin who was my very first hire.

What do you think has been a highlight for OFX?

I don’t think there is a singular point that can be looked back and say that was what made the company. There have been a number of bumps which looking back are now highlights but had the ability to destabilise staff at the time, but it’s the strength of the teams and leadership which made OFX stronger. Memorable ones for me were the purchase of a majority stake by Macquarie Bank, the sale to the Private Equity firms, listing on the ASX, the purchasing of Firma, and most recently Paytron. And all through this continuing to open offices or obtaining regulatory licences to operate.

What have we got better at as a company?

Not just what we have got better at, but we have not lost the ability to question why. Why do we do something in a particular way or more importantly why we cannot do something. It’s our ability to still ask those questions every day which continues to push us further.

A funny story you’d be happy to share?

One that stands out is when we were much smaller, Matt thought it would be a great idea to take the staff on a sailing yacht in the harbour for a Christmas event. None of us had any experience and Matt had just taken it up. It was a great afternoon except a number of people were seasick, we were almost rammed after crossing into the path of several Sydney to Hobart yachts practicing before the race, we un-did knots that we shouldn’t have, which meant the rigging / sails no longer worked and we had to get back with the outboard motor. But we all returned safe and had a great dinner afterwards.

What birthday message would you like send to OFX?

It has been a phenomenal 25 years and while I don’t think I’ll be here in another 25, I’m sure I’ll be continuing to watch the great success that’s still happening. Happy Birthday.

When did you start at OFX and what was your first role?

I started in May 2007 as a Senior Corporate Dealer, but it was a very varied role back then as we were only small – I was responsible for converting registrations, customer service, managing our FX positions, as well as looking after and building up a small portfolio of corporate clients through cold calling etc.

How many people were working at OFX?

Eight or nine in the London office.

How has your career developed in your time at OFX?

From only managing a handful of corporate clients to developing a bigger portfolio of larger clients, then moving gradually into management as the size of the book increased and we hired more dealers and sales staff. I’ve now been in my current role, overseeing the EMEA corporate business for the last four years or so.

What do you think we do differently now compared to earlier OFX?

We certainly have plenty more autonomy in region, no more waiting 24 hours for a decision to be made or vital question to be answered! And we truly are a global business now. That also means we get to learn a lot more from other regions, what they’re doing well and how they do it.

What have been your personal highlights?

Winning region and sales team of the year is up there for sure. Also, as we’ve grown it’s created lots of opportunities compared to 10 or so years ago, and it’s been great to see natural leaders step up into management roles.

What do you think has been a highlight for OFX?

The successful acquisition of Firma. The results last year were great, and now the UK migration is complete I’m looking forward to working much more closely with and learning from the new team, and moving a much bigger UK business forward.

What have we got better at as a company?

Embracing the changes forced on us by Covid and adopting the hybrid work model – it really has made a huge difference to people’s work life balance, and made it far easier to connect with global peers. And strategy, for sure, it’s clear and focused today.

A funny story you’d be happy to share?

I do remember plenty of funny interruptions from my kids over lockdown whilst on various important calls, but you could kind of get away with it – in one instance I’m certain my four year old (at the time) Florence helped us close a big opp, just by being cute! We should probably get her on some sort of partnership commission 😊

What birthday message would you like send to OFX?

What an amazing 25 years – it does also make me feel very old – but congratulations on the huge milestone!

When did you start at OFX and what was your first role?

2007. I think they called it ‘customer service representative’ at the time.

How many people were working at OFX?

I think the UK office had around 5-8 people, but globally I believe there was no more than 30 people.

How has your career developed in your time at OFX?

From a customer service representative, I joined the private client team as a dealer, senior private client dealer and then joined the corporate team. Dealer onto senior corporate dealer and recently I was promoted to Team Lead. My path has been progressive.

What do you think we do differently now compared to earlier OFX?

A lot, but I think the biggest things for me has to be the improvement on payment processing, our structure as a global organisation and market visibility – no longer just a recognised name in Australia.

What have been your personal highlights?

I have grown up a lot since working with OFX and during that time OFX has supported me through good and bad. Personally, owning my first flat and now the house I live in, and also getting married in the past couple of years have to be highlights for me.

What do you think has been a highlight for OFX?

Establishing itself as a global brand, tackling large competitors and also outseeing some of those competitors in the past 25 years.

What have we got better at as a company?

Servicing clients. I always knew that having designated account managers was a great way to look after clients, but we now process payments quicker, improvements to the website have made it client friendly and we offer greater information to our clients for them to make educated decisions on their FX conversions.

A funny story you’d be happy to share?

One that sticks out goes to my earlier days calling a client to complete a KYC, asking for a Sio-Ban. Being told I have the incorrect number on the first call, I called the second on their profile asking for Sio-Ban again. It was the same lady from the first call? The client twigged and politely corrected the pronunciation as Siobhan (Shiv-aun). Embarrassed isn’t the word.

What birthday message would you like send to OFX?

The people are what make the company, from the top-down and bottom-up. If it wasn’t for the attitude, service minded and collaborative nature of those at the company over the years, I probably wouldn’t have lasted as long as I have.

When did you start at OFX and what was your first role?

June 2007 and was as Senior Settlements Officer.

How many people were working at OFX?

I was employee number 61, but there would have been roughly 30-50 people.

How has your career developed in your time at OFX?

There have been a few variations in my role but essentially as opportunities for growth and advancement presented themselves I was either appointed to a more senior role or threw my hat in the ring and was lucky enough to be selected for the role.

What do you think we do differently now compared to earlier OFX?

Oh so many things! When I first joined there was not even a Personnel Department, all employee related issues were handled by the owner’s PA! No such thing as People and Culture and the Compliance team was embedded in the Operations team. Also, all the reconciliations were being done manually by printing them off and using a ruler and pen to go line by line and tick off the deposits as you went! Thankfully all of that has changed and most definitely for the better!!

What have been your personal highlights?

My personal highlights have been around things like innovation in the Operations area and being involved in projects such as the Firma migration. It has also been great to be able to build such an amazing Operations team globally and the tenure of the people working for Ops speaks for itself.

What do you think has been a highlight for OFX?

For me I think the highlight has been how we have handled the change from a small private entity to an ASX listed public company. The action of listing on the exchange brought with it a massive change in both our accountability but also our visibility and the changes were handled well. We have continued to grow and for the most part we have ensured the right people have been at the helm guiding the company onto bigger and better things.

What have we got better at as a company?

Absolutely we have improved massively in terms of people management, not only at the pointy end of things like salary reviews, appraisals, STI, but also just as importantly all of the employee programs and assistance the company offers is incredibly generous and shows how committed we are to the wellbeing of staff. Of course, in my world we have seen huge technological improvements to things like reconciliations, with something like 80% of incoming credits now being processed without human intervention and we now even have payments going out through Straight Through Processing, again meaning no human touch is required.

A funny story you’d be happy to share?

I will always remember in the old days when we were in our original office in Bridge St (up the road from the one most people know) every Friday at 4pm (well sometimes earlier) the drinks cart used to roll around, usually being pushed by a fellow mad Kiwi Jen Benton who would distribute a drink of your choice, usually along with a handful of lollies to help it go down!

What birthday message would you like send to OFX?

Happy Birthday OFX, may you continue to grow as an entity and continue to place as much value on your people as you do on any financial results!

When did you start at OFX and what was your first role?

I first started at OFX in April 2009. My first role was as a private client dealer working on the consumer desk in Sydney. I’d recently graduated from Macquarie University with an economics degree. Less than 12 months after the GFC had changed the face of global markets, the world as 22 year graduate was a slightly scary place.

How many people were working at OFX?

Roughly 60 from memory.

How has your career developed in your time at OFX?

Across 14 years I’ve had six roles at OFX, I’ve been in my current role since 2018. I consider myself incredibly fortunate and I’m very grateful for the career I’ve been able to develop at OFX. My personal growth areas have changed over the years, but I’d say my career development has always been centred around becoming a more rounded and effective leader.

What do you think we do differently now compared to earlier OFX?

Lots! As the business has grown we’ve been very focused on delivering scale across the organisation. We’ve heard about it loads in our strategy work, pay, serve, and onboard at scale. Over time we’ve gotten sharper in our delivery, roles and functions have become a lot more specialised, and gone are the days where certain roles would operate with endless bandwidth.

What have been your personal highlights?

Honestly there have been so many but if I were to pick just a few. Firstly, seeing the growth through our teams and across our leaderships groups has given me immense satisfaction. Secondly, the lessons, counsel and support I’ve received from the small handful of leaders I’ve served under has been incredible. Finally – the mateship. To see people, you genuinely care about hit milestones, build careers and grow families has been particularly special.

What do you think has been a highlight for OFX?

Its sustainable growth and its resilience. It’s easy to forget sometimes over the past 15 years alone, OFX has withstood some seriously brutal cycles. Once in a life-time type stuff. The cycles have been shorter and to some extent, more abrupt. Our competitive landscape is virtually unrecognisable, we’ve navigated the private to public path and the business has invested deeply across multiple transformative projects. Whilst OFX may be viewed as a genuinely good-natured company and great place to work, it probably doesn’t get enough credit for its grit and inner toughness. It’s withstood some fierce storms and is stronger than ever.

What have we got better at as a company?

We’ve gotten better at developing our people, exploring different channels and ways to grow. Whilst it’s been slower than what we would have liked, we’ve gotten a lot better at doing what we do best.

A funny story you’d be happy to share?

It goes back to the day before I started at OFX. It was a Sunday afternoon, and I was down at a local driving range with a golf buddy of mine. We were chatting away as I detailed this new role I was stepping in to tomorrow with a company called Ozforex. Monday morning rolled around and as I was being introduced to my new colleagues – Matt Gilmour walks over and explains he was standing behind me on the driving range only yesterday. Thankfully I was adequately complimentary about the opportunity before I knew much about OFX at all! Goes to show, you never know who is listening in.

What birthday message would you like send to OFX?

I vaguely remember turning 25. It’s a truly great age. It’s an age where you are young enough to still have loads of fun but old enough to make big life decisions. OFX is now fully developed, physically capable and in a great position to fulfill its potential. I genuinely believe that it can. As it celebrates this special occasion, I’d like to thank OFX, I owe it so much and in many regards I’ve grown up along side of it.

When did you start at OFX and what was your first role?

I was fortunate enough to be invited in for an informal chat with one of the original founders Matt Gilmour and Head of Desk back in 2006, a few days later I was offered a position as a Corporate Dealer.

How many people were working at OFX?

In the Sydney office I would say approximately 60, globally there was about 100.

How has your career developed in your time at OFX?

I’ve moved into a senior position within the Sydney Corporate Dealing team and see them as part of my extended family

What do you think we do differently now compared to earlier OFX?

From an operational point of view, having integrated technologies and digital platforms it has made certain processes become streamlined delivering a better client experience. As the global landscape has changed and regulatory requirements have increased, we have invested in Compliance efforts and cybersecurity measures to meet these evolving changes.

What have been your personal highlights?

I’ve had the opportunity to travel, move states, had children, all still being able to do what I love most – manage clients FX risk. I’ve built some amazing relationships with clients along the way which I truly treasure.

What do you think has been a highlight for OFX?

Listing on the ASX, releasing the mobile app, expanding into new markets, adapting new technologies, partnering with banks and payment processers to help offer additional services, acquisition of FIRMA and Paytron, the list goes on…

What have we got better at as a company?

Aside from improving the online platform, we have expanded our coverage to support more currencies than ever before with a competitive pricing model. OFX supports all employees to a Make a Difference to the community, the program is aligned with our ‘make a difference’ purpose and gives all OFXers the opportunity to support and get involved with charitable and community causes that we care about.

A funny story you’d be happy to share?

I get mistaken for ‘Janine’ on the phone a lot which I’ve now taken onboard.

What birthday message would you like send to OFX?

25 years is a great achievement from a small little sun room in Curl Curl. A heartfelt thank you to every single person that has taken us to where we are today including past and present employees and our loyal clients.

When did you start at OFX and what was your first role?

2008. Right after graduating from university and during the 2008 financial crisis. My first role was Private Dealer.

How many people were working at OFX?

Including myself, there were six people in the Toronto office.

How has your career developed in your time at OFX?

I had the pleasure of trying a few roles at OFX. I was the team lead for the private team in Toronto for a bit. Then I moved over to the corporate team where I spent most of my time with OFX. Recently I started on the Partnership team as a Partnership Manager.

What do you think we do differently now compared to earlier OFX?

We’re more organized now. A lot bigger as an organization with more support functions and resources to help the front facing teams.

What have been your personal highlights?

The people I work with, even as some of them have moved on we’re kept in touch and remain good friends.

What do you think has been a highlight for OFX?

It was cool that I was able to be there and help the Toronto office grow and even physically helped with the move from the first office on Yonge Street to the second office on Toronto Street.

What have we got better at as a company?

More organized and providing resource to staff.

A funny story you’d be happy to share?

I remember outgrowing our small office on Queen street. At one point the office was at full capacity and during the summer it got so hot that we had to get a portable AC unit to keep cool.

What birthday message would you like send to OFX?

Happy birthday and can’t wait to see all the cool things we can accomplish together in the future.

When did you start at OFX and what was your first role?

2012 Fall. I was a junior staff as operation and settlement officer.

How many people were working at OFX?

There were only four people in the OFX Hong Kong office and I’m the first and only ops in the office. By then I think there were 150-200 people in OFX.

How has your career developed in your time at OFX?

I was promoted to Ops manager in 2014, moved to RPA manager at 2019. Since then I am working with a five person ops team and two people RPA team.

What do you think we do differently now compared to earlier OFX?

We are now more systematic in different areas. Structure has been built steadily and we have a passionate and energetic management team to drive the business.

What have been your personal highlights?

One of my standout moments at OFX has been transitioning to the role of RPA manager. I have successfully implemented and managed over 30 bots, contributing to a 30% reduction in our daily operational workload. Additionally, migrating our bot operation models to AWS cloud computing has been a rewarding challenge. And, inventing our first AI assistant bot Tanya!

What do you think has been a highlight for OFX?

It fills me with pride to be part of OFX, a company that has demonstrated resilience and strength even during the challenging economic downturn caused by the COVID-19 pandemic. While some of our competitors have faced struggles, OFX has remained steadfast and robust.

What have we got better at as a company?

OFX has made notable strides in prioritising its workforce and making substantial investments in technology, resulting in a significant increase in productivity.

What birthday message would you like send to OFX?

Happy birthday, OFX! May this special day be a reminder of our collective achievements, and I look forward to celebrating together again when we reach our 50th anniversary.