Foreign Exchange Operations Officer

Foreign Exchange Operations Officer

Mercantile Bank Ltd



Foreign Exchange Operations Officer

Details of the offer

PURPOSE OF THE JOB Purpose of the role is to scrutinize all requests for Foreign Exchange Payments for correctness and conformity to Exchange Control Regulations and rulings. KEY RELATIONSHIP INTERFACES External Relationships Team leaders, Business Centres, Commercial, Customer Processing and Reconciliations, Treasury Front Office Internal Relationships MBL Foreign Exchange Clients, Intermediaries KEY DELIVERABLES/OUTPUTS Liaison: Liaise with branches, intermediaries and Head Office Divisions in resolving client queries, request, etc. on a continuous basis and interact with clients in this regard. Liaise with the Dealing Room to amend or rectify deals. Contact clients in the event of there being insufficient funds in the account to make the payment, incorrect documents or incorrect authorized signatories. Investigate and contact clients and branches to resolve queries within the turnaround time Collect and return documents from reception and walk in clients. Refer any unusual requests for foreign payment to the Exchange Control Controller. Assist clients and branches who need SWIFT confirmations of payments Assist clients and branches to complete Integrated Form and ensure that they are FICA compliant Register all daily payments and hand them over to the outward payment clerks Document verification: Verification and checking of Foreign Exchange payments and settlements per client instructions, within stipulated regulatory cut off times. Verify and confirm that Exchange Control compliance for Foreign Exchange payments are in line with Exchange Control Rulings and Regulations. Confirm that all payments comply with the Banks procedures and policies. Check documentation in terms of Exchange Control Rulings and Cross Border Form (Integrated Form) (BOP forms). Check client instructions for content, completeness and clarity, i.e. IBAN numbers, Account numbers, beneficiary bank details, currency, etc. In instances where the BOP category is 102/103, access the SARB IVS Website to input the MRN number and verify it, print and attach to the transaction. Investigate and resolve to ensure that documentation is endorsed for all categories except imports. Investigate and verify that the CCN number is recorded on the customers intermediary Form (BOP form) Verify client signatures and check for availability of funds per payment. Upload documentation into the workflow system (OnBase) Identify any non FICA customer Any other duties required from time to time. KEY COMPETENCIES (Skills, knowledge and personal attributes): Knowledge Knowledge and compliance with Company Policies and Procedures & legislation, SA Reserve Bank Exchange Control rulings, foreign exchange, Foreign Exchange settlements, SWIFT standards, cut-off times,. Knowledge of MBL AML, FIC and Suspicious transaction monitoring and reporting policies. Knowledge of Operational Risk Knowledge of departmental strategy to support business unit plan Relevant knowledge of payment documentation such as, Invoices, transport documentation and customs documentation. Relevant knowledge of International Foreign Exchange, payment and clearing systems, Understand Accounting and Reconciliation concepts (understand entries and be able to do account reconciliations. Good knowledge of the SARB IVS system and understand the requirements in respect of UCR and MRN references. Skills Accuracy Time management Attention to detail Planning and organising skills Superior Customer Service Delivery Computer literacy: MS Office Suite Intermediate. BaNCS BankservAfrica BiPublisher ODS Report SWIFT Communication Skills Problem Solving Goal Setting Skills Interpersonal Skills Analytical Ability to liaise with senior management Personal Attributes Responsible and reliable Positive attitude Ability to work under pressure Team Player Commitment Curious Honesty Integrity Adaptability Resolute Independent work without supervision. Assertive Adaptability Motivated QUALIFICATION/EXPERIENCE Minimum = Matric or NQF equivalent. Post Matric qualification Preferred EXPERIENCE 3 - 4 years Foreign Exchange experience 3 - 4 years exposure to Exchange Control Rulings

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