Exchange Control Senior Associate

JPMorgan Chase & Co.; South Africa; On-site; ZAR 720 000 - 840 000; Full time

Job summary

A leading financial services company in South Africa is looking for an experienced Exchange Control Senior Associate. In this role, you will facilitate governance and monitoring of cross-border transactions, ensuring compliance with Exchange Control regulations. Key responsibilities include submitting applications, coordinating inspections, and liaising with clients. The ideal candidate will have over 7 years of experience in Exchange Control matters, excellent communication skills, and a strong understanding of the South African financial landscape. This role demands high attention to detail and the ability to work under pressure.

Qualifications

• Minimum 7+ years of direct experience with Exchange Control matters.
• Strong theoretical understanding and working knowledge of Exchange Control Regulations and Rulings.
• Good understanding of South African financial markets and the obligations of an Authorized Dealer.
• Thorough understanding of Business and Technical Specifications for the Cross‑Border Transaction Reporting System.

Responsibilities

• Administer and coordinate quarterly Balance of Payments inspections.
• Liaise with clients for submission and vetting of supporting documentation.
• Collaborate with Sales and Product teams on Exchange Control matters.
• Contribute to the automation of Exchange Control reporting.

Skills

Experience with Exchange Control matters

Understanding of Exchange Control Regulations

Knowledge of South African financial markets

Strong communication skills

Attention to detail

Ability to work under pressure

Job description

Exchange Control Senior Associate

Step into a pivotal role as an Exchange Control Senior Associate, where your expertise will drive governance and compliance in cross‑border transactions. Be part of a diverse team that values your insights and contributions.

Join a diverse and dynamic team as an Exchange Control Senior Associate, where you will play a crucial role in facilitating governance and monitoring cross‑border transactions and non‑resident asset ownership. This highly regulated position requires a deep understanding of the Exchange Control Regulatory Framework.

Job Summary

As an Exchange Control Senior Associate within our dynamic team, you will play a crucial role in facilitating governance and monitoring cross‑border transactions and non‑resident asset ownership. Your core responsibilities will include submission of Exchange Control applications, transaction vetting, and compliance with Exchange Control regulations. You will also be responsible for monitoring accurate and timely reporting on the FinSurv Reporting System. Staying informed about current regulations and contributing to new business initiatives from an Exchange Control perspective is essential.

Job Responsibilities

• Administer and coordinate quarterly Balance of Payments inspections and perform Section K reporting to ensure non‑resident and CFC accounts are not overdrawn.
• Liaise with clients for submission and vetting of supporting documentation and formulate and submit Exchange Control applications, following up with the Financial Surveillance Department.
• Collaborate with Sales, Product, Reserve Bank, and clients on Exchange Control matters, and submit monthly and quarterly reports.
• Attend client meetings and Authorized Dealer meetings organized by SARB as required.
• Escalate compliance and governance issues for resolution and ensure loans are captured in accordance with agreements.
• Contribute to the automation and industrialization of Exchange Control reporting.
• Provide training to internal stakeholders and clients as needed.
• Resolve exceptional reporting issues with SARB.

Required Qualifications, Capabilities, and Skills

• Minimum 7+ years of direct experience with Exchange Control matters.
• Strong theoretical understanding and working knowledge of Exchange Control Regulations and Rulings.
• Good understanding of South African financial markets and the obligations of an Authorized Dealer.
• Thorough understanding of Business and Technical Specifications for the Cross‑Border Transaction Reporting System.
• Ability to develop and maintain strong working relationships at all levels, both internally and externally.
• Ability to prioritize and perform well under pressure in a team environment.
• High attention to detail and accuracy.
• Excellent written and verbal communication skills.

Preferred Qualifications, Capabilities, and Skills

• Experience with Nigerian exchange control would be advantageous.