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  • Posted: May 27, 2020
    Deadline: Jun 3, 2020
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    Nedbank Group Limited is a bank holding company that operates as one of the four largest banking groups in South Africa. The company's shares have been listed on the JSE Limited since 1969. The group offers a wide range of wholesale and retail banking services through four main business clusters, namely Nedbank Corporate and Investment Banking, Nedbank Retai...
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    Head: Exchange Control

    Job Purpose

    • To manage, provide strategic advice and input into research, training, analysis, interpretation and documentation of best practice and regulatory risk requirements and manage the delivery of regulatory risk awareness and training interventions associated with exchange control to ensure regulatory standards across the Nedbank Group are met.

     

    Job Responsibilities

    • Interact with stakeholders to convey best practice and regulatory risk requirements and to understand stakeholder expectations and/or requirements to ensure compliance, mitigation of risk and fulfilment of expectations.
    • Interact with stakeholders, through formal and informal engagements to build and maintain collaborative relationships and to ensure alignment of regulatory requirements as set by South African Reserve Bank (SARB) or relevant regulator.
    • Manage engagement of, and interact with stakeholders to provide clarification, advice, guidance and assistance related to best practices and regulatory risk requirements to ensure mitigation of risks associated with exchange control.
    • Engage formally with relevant stakeholders to inform and assist with requests and information for creating awareness and monitoring of exchange control to ensure understanding and effective monitoring.
    • Maintain stakeholder relationships by representation through formal and informal channels to ensure collaborative relationships.
    • Attend and contribute to relevant governance forums and structures, meetings, engagements, regulatory interactions as a subject matter expert.
    • Maintain relationships with the South African Reserve Bank (SARB) through formal and informal engagements and representing Nedbank on SARB Exchange Control Liaison and Rulings committee.
    • Manage and provide input into the research, development and updating of policies, processes, procedures, practices, plans, frameworks, risk appetite and training to ensure alignment with best practice and regulatory risk requirements.
    • Review internal controls and documentation for quality assurance and ensure corrective action is taken where required.
    • Ensure distribution and creation of awareness of internal controls, information and documentation through monitoring and follow-up to ensure awareness is created.
    • Manage and facilitate understanding of implementation and interpretation of best practice and regulatory risk requirements through actionable internal controls and documentation to mitigate risks
    • Ensure the analysis and accurate identification of risks and gaps through review of relevant information to mitigate risks associated with exchange control.
    • Manage the input provided into new and existing business products and processes through reviewing the identified and analysed risks associated with exchange control.
    • Identify, analyse and provide input into new and existing products and processes through engagement with stakeholders to ensure the mitigation of risks associated with exchange control.
    • Monitor the identification of risks identified, feedback and corrective action implemented through oversight of engagements with stakeholders to ensure these risks are monitored through applicable governance forums and structures.
    • Utilise resources effectively and efficiently by delegating deliverables according to specialised skills-set to ensure work completed to correct standard and expectations.
    • Update operational risk documentation through engagement with stakeholders to ensure the identification and mitigation of relevant risks and to comply with the Advanced Measurement Approach.
    • Manage high-level impact analysis of updates and/or amendments to exchange control rules, regulations and directives by determining the impact of updates and/or amendments on Nedbank business operation.
    • Avoid penalties imposed by preparing motivations and by providing "letters of assurance" to SARB in mitigation of exchange control breaches.
    • Ensure exchange control returns to the SARB are timeously prepared and submitted.
    • Provide subject matter expertise and input in the development and/or enhancement of the exchange control systems (e.g. Financial Surveillance Reporting System).
    • Manage the daily regulatory reporting requirements (Finsurv).
    • Manage the regulatory reporting requirements (Macro Prudential Limits, non-resident rand accounts, BA325, BA12 etc)
    • Manage all required information requests by the SARB (Offsite and Onsite inspections, exceptions etc)

    Method of Application

    Interested and qualified? Go to Nedbank on jobs.nedbank.co.za to apply

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