Exchange Control Officer - 6 Month Contract at Standard Chartered Bank

Job description

• To maintain and supervise all Exchange Control processes and practices within the Exchange Control Team to ensure the retention of our Authorised Dealer's License
• To pro-actively identify and assist in the implementation of activities across ITO and SCB Branch to ensure effective Exchange Control compliance within the Branch.

Key Roles and Responsibilities

• To supervise that all Exchange Control related transactions are correctly vetted and reported in accordance with Exchange Control Regulations within processing times
• To supervise the effective day to day management over the BOP System and auctioning of related reporting requirements including repair of rejections.
• To assist in identifying and the monitor, control and reporting of all financial flows and transactions applicable to exchange control (i.e. inward and outward flow through cfc accounts and non-res accounts)
• To proactively efficiently and effectively support Banking and Service Delivery Division, ensuring that operational risk is well managed so that the Bank does not suffer loss financially or reputation as a result of incorrect exchange control non compliance, processing, fraud, delays and errors
• Understand nature of transactions from an Exchange Control perspective thereby ensuring that our administration aligns with current Rules Regulations and Policy
• Identify and undertake BOP category reporting
• Ensure BOP balancing module is updated
• Obtain and vet supporting documentary evidence in respect of cross-border transactions
• As required research compile and submit well-motivated applications to SA Reserve Bank Exchange Control on behalf of the Bank/customer Base
• Be accountable for ensuring the integrity of information or data submitted to the Sarb via the Cross Border Foreign Exchange Transaction Reporting System
• Ensure a Debt Management report is submitted to the SARB on a monthly basis
• Ensure Inward TT payments are followed up with BOP forms and documentation according to exchange control rulings and regulations.
• Ensure that the BOP system and other Exchange Control related systems are fully operational at all times.
• All reported transactions and bank reports are filed in a systematic order.
• Administrator function for the loan reporting system.
• Daily and monthly filing.
• Queries.
• DRP testing
• Creating a plan for AOM
• Drawing a report for Advance payment and sending of letters
• Drawing a report for FEC and sending of letters
• Drawing of Non resident report
• Ensure that Excon mail box is reconciled by close of business.

Qualifications and Skills

• On the Job experience in interpreting Exchange Control Rules and Regulations and to apply them to transactions and situations emanating from the Internal and External customer base
• Previous working experience giving rise to an understanding of the Balance of Payment reporting system and related requirements
• Proficient in MSOffice (Word, Excel, Powerpoint)
• Minimum of 5 years banking experience
• 2 years working knowledge of Exchange Control
• Required qualifications
• A relevant degree or higher national diploma