Job Summary


The Exchange Control Team is responsible for adhering to all regulatory processes to maintain our Authorized Dealer’s License and deliver exceptional client service. This includes proactively identifying and implementing compliance activities across Standard Chartered Bank Branches, supporting Banking and Service Delivery Divisions to manage operational risks, and ensuring transactions align with current rules and regulations. The team also handles well-motivated applications to the South Africa  Reserve Bank (SARB), systematic filing of transaction reports, and administration of the loan reporting system. Key tasks include drawing and processing various transaction reports, responding to SARB inspections, reconciling the Exchange Control mailbox daily, and logging activities in AOM to ensure timely and effective exchange control compliance


Key Responsibilities


The Exchange Control Team is dedicated to ensuring compliance with exchange control regulations and providing excellent client service. Key responsibilities include proactively following up with clients on expired exchange control applications, assisting clients with exchange control queries and  advice through meetings, telecom conversations, or mail. The team also manages and updates the generic mailbox, ensuring timely follow-up on SARB applications.
By fulfilling these responsibilities, the Exchange Control Team ensures robust exchange control compliance, operational efficiency, and adherence to regulatory standards, thereby safeguarding the bank's financial and reputational integrity.


Client Follow-Up & Assistance


Follow up with clients on expired exchange control applications a month before expiry using a standard spreadsheet.
Assist clients with exchange control queries or advice through meetings, telecom, or mail.
Manage and update the generic mailbox for SARB applications.


Information Management


Load pertinent information to the share drive for team benefit and update it monthly.
Escalate adverse service impacts for Platinum/Hyper care clients as per guidelines.


Strategy & Business Compliance


Ensure exchange control transactions are vetted with Balance of Payments (BOP) categories and reported per regulations within processing times.
Maintain operational BOP system and related systems.
Process BOPCUS reporting within 48 hours using the vendor system (Synthesis) and manage checksum for accurate reporting.
Ensure integrity of data submitted to SARB via reporting systems.
Perform daily and monthly filing by the 10th day of the following month.
Submit regulatory reporting requirements for Cash Threshold Report  (CTR)and  International funds transfer (IFTR)  as per procedures.
Manage day-to-day exchange control activities, including pre- and post-vetting and various reporting requirements (CTR, IFTR, BOPCUS)
Governance is maintained through awareness and understanding of regulatory frameworks such as PASA, SARB, and FIC, ensuring compliance. The team governs hubbed activities at the Global Business Centre (GBS), delivers effective governance, challenges stakeholders effectively, and collaborates with local regulators in an open manner.


Skills, Qualifications and Experience


University degree or equivalent
At least 3 years relevant managerial experience
Sound knowledge of SWIFT Message Standards and Cash Management Operations processing systems, especially ISO20022 and Pay systems
Ability to handle pressure  effectively 
Good technical understanding of Transactional Banking Products.
Good understanding of Exchange Control regulations as well as reporting requirements.
Good inter-personal skills with the ability to engage and work with others.
High degree of responsibility, integrity and discretion.
High level of control consciousness. 
Ability to handle changing situations, environments and markets.
Excellent communication capability (written and spoken).
Ability to work within a multi-function, multi-discipline team environment with strong influencing and stakeholder management skills.