Financial Surveillance Administrator at Bidvest Bank

Primary Purpose

• To capture and process BOP and IVS reporting, in line with regulatory and compliance guidelines and assist the senior signing official and Manager of department with the effective day-to-day operations in Financial Surveillance, like processing non- complex applications, consultation with Back Office and branches on non-complex matters, capturing data for reporting purposes.

Minimum Requirements

Qualifications

• Grade 12
• Diploma or certificate (ideal)

Experience

• 1 Year foreign exchange experience in a similar environment

Duties and Responsibilities include but not limited to:

FINANCE
Budget

• Provide input into the unit’s budget and manage day to day operations within budget parameters

Cost saving & revenue initiatives

• Minimise personal expenditure
• Process and invoice BOP penalty fees

• Pursue potential cost saving / revenue enhancement initiatives for the Bank and ensure that a precedent/unhealthy trend is not created with very basic applications in relation to Industry norms

Revenue Generation Process and invoice branches and customers for fees on applications or consultations

• Collect application fees from branches and customers timeously

CUSTOMER

Customer Service

• Process queries from branches, back office and internal clients or Bidvest companies regarding Financial surveillance on a less complex basis
• Establish and maintain ongoing conducive Internal Client Relationships
• Maintain relationships with Retail network and Back Office with regards to Financial surveillance matters to be adjudicated for payments
• Ensure that Policies and regulations are adhered to with regard to internal clients
• Communicate any regulatory SARB or SARS or Customs changes to all Departments and provide advice to facilitate decision making on a non-complex basis

Service Excellence

• Provide feedback to internal customers correctly and timeously
• Ensure quality of service delivery as experienced by internal stakeholders
• Interprets business/customer requirements to provide timeous solutions. Going the extra mile for internal customers and ensure turnaround times agreed to in Service level Agreements are adhered to

INTERNAL PROCESSES

Daily Operations within Finance Surveillance Compiling of very basic Financial surveillance applications

• Capture assigned FRS transactions timeously and correctly and verify transactions due for payments in terms of the rulings
• Compile and prepare the exception reporting from SARB for single discretionary allowance, investment allowance, religious transfers for timeous sign off by signing officers
• Process Omnibus and Old TC applications
• Assist senior signing official by verify information and documentation timeously for Emigration processes

Financial Surveillance Reporting

• Capture, and change FRS (Financial surveillance system) reporting to ensure it is timeous and correct in terms of the FRS specifications on the SARB website
• Report any rejections or corrections from the Branches and Back Office via Merlin and Opics to SARB
• Capture import transactions and reconciliate documents from clients and submissions to Reserve bank from branch and back office level IVS (Import verification System), contact clients for outstanding documents on imports
• Keep abreast of industry developments and changes in the Exchange Control Rulings and Regulations to guide bank staff and internal customers accordingly

Assisting Head Of Surveillance and Senior Signing Official

• Limiting the Financial and reputational risk in the Department through daily verification of incoming and outgoing documentation and payments to ensure adherence with the rules and regulations
• Feedback to applicable staff to ensure that the required departments apply correct procedures identified
• Continuously aim to Improve processes, turnaround times and controls within the department

Process management

• Raise & discuss any issues regarding system / process weaknesses as identified for compensating internal systems & controls to be implemented
• Feedback to applicable staff to ensure that the required departments apply the correct procedures identified

LEARNING AND GROWTH

Training

• Financial Surveillance courses, FICA, AML
• Take ownership for driving own career development areas
• Preparation and signing off of personal development plan
• Achievement of objectives/milestones set out in the development plan

WORK CONDITIONS: OFFICE BOUND