Corporate and Investment Banking Exchange Control
1 week ago
**JOB DESCRIPTION**
A highly regulated role where you will work with a diverse and dynamic skilled team in facilitating cash movement and the reporting of cross border flows to various Regulators
**Job Summary**
As an Exchange Control Specialist in Treasury Services Operations team in Johannesburg, you will be responsible for but not limited to administration of all Exchange Control reporting and vetting functions ensuring full compliance with Exchange Control. The accurate and timely reporting of all relevant items on the BOP and IVS (import Verification System). Daily OFAC sanction screening on all Exchange control related documentation is required prior to payments being released. To keep abreast of current Regulation and provide input into any new business initiatives from an Exchange Control perspective
**Responsibilities**:
- Administration and co-ordination of quarterly Balance of Payments inspections
- Performing Section K reporting: Monitoring that all NON resident accounts and CFC are not overdrawn
- Liaising with clients to ensure the submission and vetting of all necessary supporting documentation
- Liaising with Sales, Product, Reserve Bank and Clients on Exchange Control matters.
- Submitting monthly and quarterly reports
- Ensuring that all import and export payments comply with Exchange Control prior to their release
- Attending client meetings if required
- Acting as a full resource within the cash operations team and providing assistance with the performance of all cash clearing activity
- Ensure that all loan drawdowns take place before authorising capital and Interest payments
- Contribute towards the delivery of automation and industrialisation of Exchange Control reporting
**Required qualifications, capabilities, and skills**
- Three years + previous experience working directly with Exchange Control matters
- A working knowledge and strong theoretical understanding of Exchange Control Regulations and Rulings
- A good understanding of the South African financial markets and the obligations of an Authorised Dealer
- A thorough understanding of the Business Technical and specifications documents regarding the Cross-Border Transaction Reporting System
- Ability to develop and maintain sound working relationships at all levels, with both internal and external clients
- Ability to prioritise and work well within a highly pressurised team
- Attention to detail and a high level of accuracy
- Good communication skills - both written and verbal
- A thorough understanding of what constitutes a sound operations control environment
- Ensure risk compliance in respect of regulatory and statutory requirements
- Ability to provide assistance to the Exchange Control Officer in his/her absence
**Preferred qualifications, capabilities, and skills**
- BCom degree or relevant Financial qualification preferable
- An accountable self-starter who deadline / control orientated
- Handling of complex queries/complaints from clients and assumes ownership
- Innovative - challenge assumptions
**ABOUT US**
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
**ABOUT THE TEAM**
The Corporate & Investment Bank is a global leader across investment banking, wholesale payments, markets and securities services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. We provide strategic advice, raise capital, manage risk and extend liquidity in markets around the world.
Operations teams develop and manage innovative, secure service solutions to meet clients’ needs globally. Developing and using the latest technology, teams work to deliver industry-leading capabilities to our clients and customers, making it easy and convenient to do business with the firm. Teams also drive growth by refining technology-driven customer and client experience
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