Exchange Control Officer at Citi

Job Description

• The Exchange Control Officer is an intermediate level role responsible for ensuring transactions are processed accurately and on time in coordination with the Transaction Services team. The overall objective is to research, conduct analyses, and resolve issues.

Responsibilities:

• Interpretation of the provisions in the Currency and Exchanges Manual for Authorised Dealers as well as the Exchange Control Regulations
• Assist business units and clients with training on the requirements of Exchange Control, from a procedural and regulatory perspective
• Play a prominent role in ensuring the safeguarding of Citibank N.A. South Africa Branch’s license to act as Authorised Dealer in foreign exchange by testing the application of the policies and regulations and resolving any exceptions
• Provide subject matter expertise during the development of new foreign exchange or trade products to ensure the products will meet Exchange Control requirements
• Work with the different business areas to prepare for Exchange Control inspections by the Financial Surveillance Department of the SA Reserve Bank and with the SARB to scope the inspections and receive the results. Own the process for resolving any issues raised
• Assist with reviewing of Inspection Reports issued by the Financial Surveillance Department of the SA Reserve Bank
• Provide guidance and assistance to other Citibank N.A. South Africa Branch Departments as well as to foreign correspondent banks on Excon related matters
• Verify requests for special consideration that do not meet the provisions of the Currency and Exchanges Manual current exchange control rulings to determine if they are likely to meet with approval from the Exchange Control requirements and advise the relationship manager/client on the likely outcome. Advise clients on suitable alternatives where appropriate
• Assist with the preparation of clients' Exchange Control applications to ensure that all information required by the Financial Surveillance Department of the SA Reserve Bank are adequately covered and that the case is sufficiently motivated to ensure speedy response from the SARB. Provide guidance and advice as required
• Support with other administrative duties such as submission of reports/returns to ensure compliance with the Currency and Exchanges Manual for Authorised Dealers

Qualifications:

• Relevant experience in a related role within trade / cash operations management
• Expert level proficiency in Windows, MS Project, and MS Office Suite

Education:

• Bachelor’s/University degree or equivalent experience