Exchange Control Senior Consultant at Standard Chartered Bank

The Role Responsibilities
Key Responsibilities

• Adhere to all Exchange Control processes and practices within the Exchange Control Team thereby ensuring the retention of our Authorised Dealer's License and providing excellent client service.
• To pro-actively identify and assist in the implementation of activities across the SCB Branch and to ensure effective Exchange Control compliance within the regulatory guidelines.
• To proactively, efficiently and effectively support Banking and Service Delivery Divisions, ensuring that operational risk is well managed so that the Bank does not suffer any financial or reputational losses as a result of exchange control non-compliance, whether it be processing, fraud, delays or errors in nature.
• Understand the nature of transactions from an Exchange Control perspective thereby ensuring that our administration aligns with current Rules, Regulations and Policies.
• As required, research, compile and submit well-motivated applications to the SA Reserve Bank on behalf of the Bank and/or customer base.
• Ensure that all reported transactions and bank reports are filed in a systematic manner in the share drive.
• Administrator function for the loan reporting system.
• BCP testing in line with group standards to be performed by selected staff.
• Drawing a report for Advance payment and sending of letters in terms of standard processes.
• Drawing a report for Merchanting Transactions and sending of letters in terms of standard processes.
• Drawing a report for Non-Resident and sending of letters in terms of standard processes.
• Drawing a report for CFC transactions and sending of letters in terms of standard processes.
• Processing the report received from FMO for FEC (POU's) and sending of letters in terms of standard processes.
• Ensure that all SARB onsite and offsite inspection reports, or enquiries are investigated and concluded within expected time frames.
• Ensure that Exchange Control mail box is reconciled by close of business each day and that all transactions and queries have been responded to within agreed SLA's.
• Make use of AOM to log all daily activities.
• Follow up with clients on expired exchange control applications, a month prior to expiry making use of the standard spreadsheet in the share drive.
• Assist clients with Exchange control queries or advice via physical meetings, telecom conversations or by mail. Follow up with SARB applications in need. Ensure that the generic mailbox is managed and updated in this regard.
• Ensure that all pertinent information is loaded to the share drive for the common benefit of the exchange control team. Ensure that the drive is regularly (monthly) updated.
• Adverse service impacting but not limited to transactions for Platinum/Hyper care clients to be escalated as per the guidelines. GEMS to be used in consultation with PSM or CM where necessary.

Secondary Responsibilities

• To ensure that all Exchange Control related transactions are correctly vetted with Bop categories and reported in accordance with Exchange Control Regulations within processing times, including where such transactions are covered under applications or dispensation.
• Ensure BOPCUS reporting is processed within 48 hours of processing, using vendor system (Synthesis) to do so. Ensure Check sum is managed and used to identify incorrect or missed reporting.
• To ensure the effective day to day control over the BOP System and action of all related reporting requirements including repair of rejections.
• Be accountable for ensuring the integrity of information or data submitted to the SARB via the Cross Border Foreign Exchange Transaction Reporting Systems.
• Daily and monthly filing to be performed daily and by the 10th day of the following month respectively.
• Submission of regulatory reporting requirements for CTR (48 hours) and IFTR (72 hours), in line with laid down procedures.

Governance

• Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
• Responsible for delivering 'effective governance'; capability to challenge fellow stakeholders effectively; and willingness to work with any local regulators in an open and cooperative manner.

Regulatory & Business conduct

• Display exemplary conduct and live by the Group's Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Adhere to all regulations pertaining to Exchange Control as prescribed by the SARB.

Key Stakeholders:
Internal

• Head of Exchange Control Compliance
• FCC
• TB
• CM and RM team members and department heads
• ITO/Security Services various team members and department heads

External

• All regulators
• Synthesis
• Adaptris
• All Customers

Our Ideal Candidate

• Proficient in MSOffice (Word, Excel, PowerPoint).
• Minimum of 10 years banking experience.
• 5 years working knowledge of Exchange Control.

Apply now to join the Bank for those with big career ambitions.