Manager: Exchange Control at Old Mutual South Africa

KEY RESULT AREAS

Transaction Reporting:

• Ensure timely daily reporting of transactions to FinSurv and SARB.
• Identify and remediate unsubmitted transactions and those failing validation due to invalid data.
• Liaise with relevant departments to correct invalid data fields (e.g., addresses, contact information).
• Conduct manual matching for currency discrepancies and address mismatched transactions between accounting and transaction systems.
• Resolve system communication issues with SARB and create incidents for system errors.

SDA Limit Management:

• Monitor transaction limits, identifying customers who reach a limit of R900,000 and communicate necessary warnings regarding potential locks on transactions.
• Address customer inquiries related to SDA usage and enforce SDA locks when limits are exceeded.

Transaction Evaluation:

• Regularly extract reports to evaluate transaction data for invalidities and potential exchange control issues.
• Communicate findings to relevant departments and follow procedures for addressing questionable transactions.

Customer and Call Centre Support:

• Assist the Call Centre with foreign exchange queries.
• Provide support to customers regarding SDA utilization.

Exchange Control Support:

• Assist management and staff with questions related to exchange control regulations.

Training:

• Conduct training sessions for exchange control staff and Call Centre personnel on exchange control matters and SDA limits.

Applications to FinSurv:

• Manage applications related to exchange control for approval or guidance from FinSurv.
• Report any identified contraventions and respond to communications from SARB.

Macro Prudential Returns:

• Submit monthly returns to FinSurv by the specified deadline.
• Collaborate with departments to compile and validate return data.

Meetings Participation:

• Attend relevant meetings concerning cross-border payments, management updates, and system-related discussions.
• Facilitate meetings to address system and operational issues.

Inspections by FinSurv:

• Prepare and provide requested data for on-site and off-site examinations by FinSurv.
• Assist with logistical arrangements during inspections and respond to findings.

Annual Compliance Reporting:

• Generate an annual Managerial Letter of Comfort confirming compliance with SARB requirements.

Staff Management:

• Oversee the performance and development of Exchange Control Department staff, including feedback and disciplinary measures.

System Issue Identification:

• Identify and report system issues requiring updates or amendments, and participate in testing processes for system changes.

New Product Development:

• Participate in the Design Authority Committee, ensuring that new products comply with exchange control regulations before release.

ROLE REQUIREMENTS

• Bachelor’s Degree (Minimum) in Finance, Economics, Accounting, Business Administration, or Law
• Postgraduate Qualification (Preferred) in Finance, Banking, International Trade, or Compliance
• Professional Certifications (Beneficial):
• Chartered Financial Analyst (CFA)
• Certified Anti-Money Laundering Specialist (CAMS)
• Financial Risk Manager (FRM)
• Association of Certified Chartered Accountants (ACCA)
• South African Institute of Financial Markets (SAIFM) certification)
• Minimum 8–10 years experience in the financial services or banking industry.
• Minimum 5 years specifically in exchange control compliance, foreign exchange operations, or regulatory risk management.
• Prior experience in a banking environment, preferably in compliance, treasury, or foreign exchange operations.      
• Experience in interpreting and applying regulatory frameworks in banking or financial services.
• Experience working with regulators, auditors, and internal business units.  
• Strong knowledge of exchange control regulations and compliance.
• Excellent analytical skills with a focus on transaction reporting and validation.
• Effective communication skills for liaising with departments and supporting customers.
• Experience in training and staff development is advantageous.

Skills

• Compliance Software, Data Collection Methods, Engineering Standards, Oral Communications, Policies & Procedures, Presenting Solutions, Quality Assurance Processes, Regulatory Compliance Management, Regulatory Policies, Requirements Verification

Education

• Bachelors Degree (B) (Required)

Closing Date

21 January 2026 , 23:59