Exchange Control Officer

**EXCHANGE CONTROL OFFICER**

**1.**JOB PURPOSE**

**2.**RESPONSIBILITIES**

**Strategy**
- Ensure that operational risk is well managed to minimize financial loss or reputational damage resulting from incorrect exchange control non-compliance, processing, fraud, delays and errors
- Understand Exchange Control transactions to ensure that the administration aligns with Policies, rules and regulations
- Identify and undertake BOP category reporting
- Ensure Balance of Payment module is updated
- Implement the foreign exchange procedures and processes in consultation with the Head of Exchange Control.
- Ensure that all client verification and identification is adhered to consistently and mandatory Due Diligence and Enhanced Diligence are executed effectively
- Submit a Debt Management report to the SARB on a monthly basis
- supervise the effective day to day management over the BOP System and auctioning of related reporting requirements including repair of rejections
- Build team capabilities on exchange control by creating opportunities for growth, knowledge sharing and mentorship whilst acting as a brand ambassador for junior staff within the department

**Risk, regulatory, prudential and compliance**
- Ensure that all Exchange Control related transactions (including cross-border transactions) are correctly vetted and reported in accordance with Exchange Control Regulations within processing times
- Conduct Disaster Recovery Plan testing and Attend to all SARB Inspections
- Report on Advance payments and sending letters, Foreign Exchange Control, Non-Residents, loan reporting and reconcile Excon mail box
- Ensure the integrity of information of data submitted to the SARB via the Cross Border Foreign Exchange Transaction Reporting System
- Identify, monitor, control and report on all financial flows and transactions applicable to exchange control (Inward and outward flow through) and follow up with BOP forms and documentation according to exchange control rules and regulations
- Investigate all possible hits on sanction lists: OFAC, EU, UN
- Assist the compliance section in resolving any GO AML reporting.
- Create the reporting templates in the Synthesis reporting tool for all regulatory reporting requirements

**Stakeholder Management**
- Advise corporate clients on submission of formal foreign exchange transactions to the South African Reserve Bank
- Present exchange control matters at seminars and conferences.
- Facilitate and manage stakeholder relationships with regulator and industry bodies and maintain correspondence

**Financial Management**
- Identify, monitor, control and report on all financial flows and transactions applicable to exchange control (i.e. inward and outward flow through cfc accounts and non-res accounts)
- Identify opportunities for enhanced revenue generation and reducing costs

**Technology, systems and processes**
- Contribute to the enhancement of reporting systems to improve efficiencies and develop internal manuals related to exchange control regulations
- Identify bottlenecks and develop alternative processes to promote flow with Balance of Payments (BOP) system
- Develop lean, effective, cross-functional and fit for purpose organizational designs to support the delivery of strategy
- Assist with the FINSURV system UAT testing with the SA Reserve Bank action and implement all Exchange Control ruling amendments as and when require by the FSD of the SA Reserve Bank.

**3.**QUALIFICATIONS AND EXPERIENCE (INHERENT JOB REQUIREMENTS)**
- Advanced Diploma/ Bachelor’s Degree in Compliance, Internal Audit or Law
- FAIS (Financial Advisory and Intermediary Services) compliant
- 5 - 8 years’ banking experience with 5 years in exchange control knowledge
- Proficient in MS Office (Word, Excel, PowerPoint)
- Knowledge of financial systems and processes
- Ownership, accountability and delivery oriented
- Interpersonal, relationship building and people skills with an ability to be assertive
- Written and verbal communication skills
- Planning, organizational and coordinating skills
- Analytical, research and investigation skills
- Strong business acumen
- Leadership: Living the company’s purpose, act as a role model, embracing and living our purpose and values, and recognizing others for the impact they make and provide strategic direction in functional area
- Results oriented: Ability to work under pressure to meet deadlines and be results-focused
- Strategy: Demonstrate experience in Exchange Control and banking services
- Self-starter: Initiate and drive the completion of tasks
- Regulatory environment: Understand the financial sector across Zimbabwe, South Africa and the SADC region
- Stakeholder engagement: Demonstrate ability to build and sustain relationships across various levels in the business and across the industry and deliver key messages with clarity, confidence, and poise to instill confidence in clients.

**Job Types**: Full-time, Part-time