Exchange Control Officer at Citi

The role of the Exchange Control Officer is to ensure  Citibank NA South Africa Branch and its clients comply with the provisions of the Currency and Exchanges Manual for Authorised Dealers. 
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 licence 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 as well as verify requests for special consideration that do not meet the provisions of the Currency and Exchanges Manual current exchange control rulings
• 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
• 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
• Participate in the testing of new systems or processes that may have an impact on Exchange Control execution to ensure that the systems address the regulatory requirements adequately
• Ensure that sufficient background information is submitted to the SARB prior to the meetings taking place and participate in the meeting with the client’s representatives and when required participate in investigations of alleged Exchange Control contraventions
• Maintain and continue to build on the strong relationship between Citibank N.A. South Africa Branch and the Financial Surveillance Department of the South African Reserve Bank to ensure continued cooperation between the parties

Knowledge/Experience:

• Proven track record of liaison with SARB Financial Surveillance Department and clients
• Proven Exchange Control technical and/or administration experience
• Knowledge of all Exchange control related directives/policies
• Strong analytical skills
• Good communication skills
• Ability to efficiently plan and organise own workload within tight deadlines
• Fluent in English, both written & verbal
• Bachelor’s degree/University degree or equivalent experience

What we can offer you

• By joining Citi South Africa, you will not only be part of a business casual workplace with a hybrid working model (up to 2 days working at home per week), but also receive a competitive base salary (which is annually reviewed) and enjoy a whole host of additional benefits that support you (and your family) to be well, live well and save well.