Head of Exchange Control Unit at Citi

The Head of Exchange Control Unit will oversee the bank's exchange control operations, ensuring adherence to SARB regulations, internal policies, and international best practices.

You will be responsible for managing regulatory submissions, providing technical guidance on cross-border transactions, and engaging with regulatory authorities, clients, and internal stakeholders.

What you'll do:

• Lead and manage the Exchange Control Unit, ensuring full compliance with SARB Exchange Control regulations and playing prominent role in safeguarding of Citibank N.A. South Africa Branch’s license to act as Authorised deal.
• Provide guidance and assistance to other Citibank N.A. South Africa Branch Departments as well as to foreign correspondent banks on Exchange control related matters.
• Develop, implement, maintain internal procedures and controls related to exchange control. 
• Act as the primary liaison with SARB, the Financial Surveillance Department, and other regulatory bodies.
• Support different business areas to prepare for Exchange Control inspections by the Financial Surveillance Department of the SA Reserve and provide SME support for resolving any issues raised.
• Review and authorize exchange control applications, exemptions, and reporting submissions.
• 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.
• 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.
• Represent Citibank N.A. South Africa Branch at user groups and other forums pertaining to Exchange Control when required to do so.
• Support with the training of clients and other Citi Department on Exchange Control matters.
• Drive process improvements, automation, and digital initiatives for exchange control operations

What we’ll need from you:

• 5 - 10 years of experience in a related role
• Deep understanding of SARB Exchange Control Regulations and Financial Surveillance requirements.
• Effective communication and analytical skills.
• Strong leadership, communication, and stakeholder engagement skills.
• Expert level proficiency in Windows, MS Project, and MS Office Suite