Exchange Control Officer

Details of the offer

This function/position is administratively housed in Legal and Compliance Ensure overall adherence to the South African Reserve Bank exchange control and cross border reporting requirements.Training, Monitoring, Reporting and provide advisory functions for all Exchange Control policies, requirements, and Regulations to all the relevant staff, Departments and Senior Management.Maintain and update Exchange Control policies and rules and ensure all relevant staff and Departments are advised accordingly.transactions and ensure dual control functions implemented by PC. The Exchange Control Officer will act as a dual control back-up to reduce risk until PC is staffed and trained correctly.Support the Branch and clients with applications to the South African Reserve Bank to obtain approval for transactions not permissible in terms of the Currency and Exchanges Manual for Authorised Dealers.Construct professional solutions and create methods, strategies or concepts when dealing with client queries and applications.Build and maintain relationship with the Regulator as well as other Authorized Dealers.Participate as a member of the Branchs Capital and Risk Committee, LPRC, New Product and ALCO meetings. Present the foreign exchange risk report in the Branch quarterly Capital and Risk Committee meeting as well as the monthly KRI report on Operational Risk. Attend the Financial Surveillance Department Authorized Dealer Committee Meeting and BASA meetings where relevant.Coordinate the FinSurv Reporting System, development, optimization, testing and manage production implementation in terms of the SARB Business and Technical Specifications and Operations Manuals.Coordinate and undertake the 3rd party FinSurv reporting system purchase including applying for the financial budget, coordinate the legal review and signing of agreement, submit the purchase documentation to the LPRC for approval and maintenance.Ensure the transaction reporting is done via FinSurv Reporting System in accordance with the FinSurv Reporting System manuals and act as a dual control function on the reconciliation application. Identify system and operational errors that will affect the reporting system and take remedial action.Ensure that the Branchs Exchange Control and FinSurv Reporting System risks as well as onsite and offsite audits are managed accordingly with no Reputational, Financial or Regulatory implications.All Compliance guidance and rules are to be adhered to as well as other Regulatory requirements outside that of the Financial Surveillance Department of the South African Reserve Bank.Drive industry reforms relating to exchange control and cross border reporting.Ensure that the 1Finsurv Project and the New Capital Flow Management Framework being ruled out during 2024 are implemented over the next 4 to 5 years.Other related work assigned by the regulators and the department Minimum Relevant Bachelors Degree +/-10 Years Banking and Exchange Control Experience with banking operations and treasury back office knowledge, relevant to Exchange Control requirements. The candidate will be subject to FSD/PA approval


Nominal Salary: To be agreed

Source: Whatjobs_Ppc

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