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PURPOSE OF THE ROLE
Management and Control of the Exchange Control (EXCON) function for Company. Liaison with the South African Reserve Bank (“SARB”), Exchange Control Department on behalf of Company.
KEY DELIVERABLES / OUTPUTS
Control:
Ensure that all Treasury transactions for existing and new clients are compliant with EXCON and FICA (Financial Intelligence Centre Act) legislation by implementing and maintaining ad hoc daily, weekly and monthly controls to facilitate the efficiency and effectiveness of the EXCON department as agreed by Senior Management.
Sign off all EXCON transactions, deals and reports in terms of the Companys ‘Limits of authority”.
Identify and resolve all relevant settlement and compliance issues in conjunction with internal and external clients, keeping Senior Management informed of these issues.
Identify and report on any potential risks regarding Exchange Control and money laundering, to the Head of Treasury Operations.
Keep abreast of all changes and enhancements within the EXCON environment by e.g. reading media reports, studying ruling amendments, attending rulings committees and circulars received from SARB.
Perform monthly ad hoc audits to ensure that Exchange Control Rulings and Regulations and the Company’s policies and procedures are being adhered to by drawing a sample of transactions processed and checking these for accuracy, validity and completeness –spot checks.
Liaison:
Provide specialist exchange control advice and assistance to branches, customers, intermediaries and Head Office Divisions to ensure Compliance with the EXCON rulings.
Be the contact for EXCON matters with the SARB
Attend relevant bi-monthly SARB rulings committee meetings
Attend meetings with EXCON officials at the SARB accompanied by the Head of Treasury Operations.
Ensure that all staff is up to date with EXCON changes and enhancements and SARB advices by e.g. circulating all minutes of SARB meetings attended to staff.
Administration
Renew the subscription and maintain new users for the Companyers Almanac, the official and widely used reference book for all Companys worldwide. for the Company by ensuring that payment is made and the book received.
Maintain and control the Exchange Control Register of all Exchange Control Applications by capturing applications submitted to the SARB and annotating dates when responses were received on an excel spreadsheet, and ensuring that the information is maintained by the controller and the clerk.
Explore new avenues to improve the MIS and controls in the Treasury Operations department from an Exchange Control point of view.
Document, provide details of and sign off all debits to income accounts for final sign off by the Head of Treasury Operations.
Provide input in the design of the appropriate training programs to ensure the necessary skills development in Treasury Operations.
Analyze SARB inspection reports and ensure relevant feedback within the prescribed cut off time.
Sign off of the SARB Audit feedback reports.
KEY COMPETENCIES (Skills, knowledge and personal attributes)
Good verbal and written communication i.e. report writing and interpretation of written material.
Sound knowledge of internal Company policies and procedures, legislation including SA Reserve Exchange Control regulations and rulings.
Computer Literacy (Excel and Word – intermediate level)
Problem solving skills based on relevant experience (day to day problems)
Good analytical skills.
Integrity
Ability to work under pressure
Planning and Organization skills
Sound accounting and reconciliation skills (understand entries and be able to do simple to complicated account reconciliations – must understand the accounting of treasury products)
Customer Service orientation
People Management:
Management of subordinates in accordance with the Companys Policies and Procedures and in accordance with departmental guidelines.
Ensure that staff is multi skilled through rotation within the department.
Ensure that staff is adequately trained and ready for succession planning requirements.
Supervise, monitor and control the capacity and resources within the unit to ensure an exceptional customer experience whilst driving efficiencies.
Responsible for regular one-on –one feedback sessions, conducting mid-year and final performance appraisals with direct reports.
Responsible for providing staff with technical guidance and support.
Promoting the culture where the 4 pillars of the Company are seen to be “alive”.
Maintain an open communication channel with direct reports and support staff to foster greater co-operation and team work.
Promote and create awareness of the Wellness program offered by the Company to employees.
QUALIFICATIONS / EXPERIENCE
Formal qualification or NQF equivalent
Matric or NQF equivalent
B Degree - preferable
Experience
At least 7 years Exchange Control experience with direct interaction with the SARB.
4 years of Cross Border Foreign Exchange Reporting System (Balance of Payments) and good knowledge of reporting requirements.
To apply immediately for this position click here: www.totalrecruitment.solutions/candidate_registration_1.aspx?JobID=53039&referrer=Unique
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