Purpose
To oversee the bank’s foreign exchange operations, ensuring compliance with local and international exchange control regulations. Acting as an official point of contact on Exchange Control matters with the SARB Financial Surveillance Department attending to all inquiries. Responsible for conducting activities and investigations for any non-compliance with the rules and regulations.
Minimum requirements
- Bachelor’s degree in finance, economics, or a related field
- Minimum 10+ years exchange control experience within a Banking environment
- In-depth understanding of local and international exchange control regulations and compliance requirements
- Ability to stay updated with regulatory changes and adapt the bank’s policies.
- Comprehensive knowledge of foreign exchange markets, instruments, and operations.
- Must have working knowledge of the Currency and Exchange Act 9 of 1933 & Exchange Control Regulations (including Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority
Duties
- Act as an official point of contact on Exchange Control matters with the SARB Financial Surveillance Department attending to all inquiries.
- Responsible for conducting activities and investigations for any non-compliance with the rules and regulations.
- Providing Exchange Control training and awareness. To manage an exchange control team and to facilitate and communicate compliance and non-compliance to business; The Head of Compliance and to the Group Chief Compliance Officer in line with regulatory and statutory requirements.
- manage and mentor junior staff, fostering a collaborative and high-performing team environment.
- Relationship Management.
Competencies
- Strong analytical and communication skills are essential, along with a good understanding of international finance and foreign exchange markets
- Skills in streamlining processes and improving the efficiency of foreign exchange operations.
- Strong verbal and written communication skills to effectively convey complex regulatory requirements and transaction details
(Appointment is subject to a vetting process and the candidate must be deemed as ‘fit and proper’ by the Financial Surveillance Department of the South African reserve Bank)
N.B: By responding to this advert, you consent to Heitha Staffing Group processing your personal information for recruitment purposes and confirm that any personal information has been submitted voluntarily. Applicants will be requested to fill in and sign a POPI Act Consent Form.
Only shortlisted candidates will be contacted. If you have not heard from us in 4 weeks, consider your application unsuccessful.
Desired Skills:
- Foreign Exchange
- Exchange control
- Currency and Exchange Act 9 of 1933
- understanding of local and international exchange control regulations and compliance requirements
- Senior Exchange Control Officer
Desired Work Experience:
- 5 to 10 years Banking
Desired Qualification Level:
- Degree