Specialist EXCON Advisory - Johannesburg at Nedbank

Job Purpose

• To manage and fulfil complex and routine Exchange Control (Excon) applications, including the advisory on and administration of Excon services, to ensure regulatory and reputational risks to Nedbank Group are mitigated, and to provide specialist advice to clients on Excon related propositions and products. 

Job Responsibilities

• Maintain the overall objectives set for Excon Advisory & Services within Client Delivery
• Provide advice on and complete Excon applications in line with own mandates for both complex and routine structures. 
• Provide an exchange control advisory and consultation service to CIB clients that complies with the exchange control rules; regulations and directives as set by the South African Reserve Bank (SARB).
• Manage expectations across the value-chain by clarifying mandates, scope and resource constraints, including alternative solution options.
• Keep abreast of changes to rules, regulations and directives by engaging with the SARB. 
• Ensure alignment to agreed processes and standards through obtaining sign-off of the technical preparation, content verification and processing of exchange control applications submitted to SARB.
• Engage with and provide guidance to consultants on the preparation of complex and/or out of the norm exchange control applications.
• Assist team members to facilitate the approval of exchange control applications that do not meet the rules, regulations and directives as set by SARB.
• Manage and sign-off on internal exchange control approvals, as per mandate from SARB to Authorised Dealers.

Job Responsibilities Continue

• Determine and track outstanding documentation/information on submitted and completed applications. 
• Enable regulatory compliance by ensuring that all requests for exchange control applications are screened against the Sanctions/Office of the Foreign Assets Control list. 
• Ensure clients submit relevant documentation required by the regulator to resolve queries. 
• Ensure a gold standard of client experience by providing reliable and correct advice on Excon applications in accordance with mandates, assist clients in preparing Excon applications, submitting the applications and following up on outstanding applications with the SARB, and queries.
• Ensure the clear prioritisation of applications, queries, and advice in line with the urgency, materiality and size of the application. Expedite exchange control applications for high value clients.
• Provide exchange control input and advice pertaining to new products and ensure products comply to prescribed processes and ensure that Nedbank retain its foreign exchange license. 
• Drive the digital agenda for improving the application process and resultant client experience, by providing a reliable platform to ensure follow up of outstanding tasks and reliable and accurate management information to manage turnaround time, volume, resource allocation and risk management
• Ensure an effective control environment based on regulatory compliance, risk management, market conduct and other business process obligations to ensure alignment with internal and independent audits.

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees

Preferred Qualification

• Bachelor of Commerce Hons: Finance, Law, Economics, Accounting or Administration

Minimum Experience Level

• +7 years experience in Exchange Control and regulation and 3+ management experience.

Technical / Professional Knowledge

• Change management
• Client service principles
• Diversity management
• Financial Accounting Principles
• Governance, Risk and Controls
• Money laundering
• Negotiation techniques
• Operations planning
• Principles of project management
• Relevant regulatory knowledge
• Resource allocation principles
• Management information and reporting principles, tools and mechanisms

Behavioural Competencies

• Coaching
• Communication
• Earning Trust
• Continuous Learning
• Customer Focus
• Influencing

Closing Date

23 August 2023