Exchange Control Officer- Head Office Durban at Al Baraka Bank South Africa

MAIN FUNCTIONS OF THE JOB

Administration and Compliance

• Import into FinSurv and submit all previous day's cross-border transactions to the SARB. Daily balancing and reconciliation of cross-border transactions. Daily capturing of end of day midrates. Capturing of Bills of Entry received from clients to the SARB via their IVS (Import Verification System). Attend to any queries on Bills of Entry documents received from clients via email.
• Compiles daily, the Reconciliation Module report for SARB 's viewing during off-site and / or on-site inspections conducted by latter.
• Compiles monthly statistics report on all branch sales, purchases and income earned and uploads same on intranet for Branch Management & Staff viewing.
• Ensures risk compliance in respect of regulatory and statutory requirements.
• Ensures Al Baraka Bank policies and procedures relevant to tasks are adhered to in order to minimise risk.
• Ensures all cross-border transactions are processed in line with relevant governance, controls and compliance requirements.
• Performs relief duties of the Exchange Control Manager when the Manager is not available.

Reports:

• Submits fortnightly to ECC the list of clients with long outstanding Bills of Entry and loads reports onto SharePoint for further upload to PowerBI. Submits daily to AML, the list of all cross-border transactions processed the previous day.

Requirements

QUALIFICATIONS

• A B.Com degree or Relevant Qualification in Banking or NQF6 qualification will be required in order to meet the requirements of the role at the highest level of competence.

PREFERRED EXPERIENCE

• A minimum of 3 years’ experience in Foreign Exchange Operations including a sufficient level of understanding of the Exchange Control Rulings & Regulations, BOPII Reporting &subsequent Reconciliation of same for record purposes, per FINSURV’s (Financial Surveillance Department) at SARB per their Business and Technical Specifications.

KNOWLEDGE

• Understanding of the interpretations of the Exchange Control Rulings & Regulations as prescribed by the South African Reserve Bank
• GTS Head Office Functions
• SARB - Balance of Payments (BOPII)
• SARB - Reconciliation Module
• SARB – IVS System
• SARB – LRS System
• Microsoft Office