Corporate and Investment Banking Exchange Control SpecialistA 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 RegulatorsJob SummaryAs 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 Job Responsibilities Administering and coordinating quarterly Balance of Payments inspection 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 Formulating/Submitting exchange control applications and following up on these with the Excon Department 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 their 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
