Senior Advisor Exchange control

Absa Group; Johannesburg; On-site; ZAR 600 000 - 800 000; Full time

Job summary

A leading financial institution in Johannesburg seeks an Exchange Control Advisor to ensure compliance with Exchange Control Regulations mandated by the South African Reserve Bank. This pivotal role involves advising internal stakeholders, monitoring cross-border transactions, and maintaining relationships with regulatory bodies. Candidates must possess a bachelor's degree in Banking, Finance, or a related field, along with 5 to 10 years of experience in regulatory liaison. This position offers a chance to influence strategic initiatives and contribute to compliance methodologies.

Qualifications

• Minimum 5 to 10 years' experience in Exchange Control advisory or regulatory liaison.
• In-depth knowledge of South African Exchange Control Regulations and the Authorised Dealer Manual.
• Familiarity with cross-border payments and foreign exchange systems.

Responsibilities

• Provide expert advice on Exchange Control Regulations and ensure consistent application across the Group.
• Monitor and review cross-border transactions to ensure regulatory compliance.
• Submit applications and reports to FinSurv and maintain accurate reconciliation records.
• Act as the primary point of contact for FinSurv on Exchange Control matters.
• Implement and maintain compliance methodologies to manage Exchange Control risk.

Skills

Expert advice on Exchange Control Regulations

Regulatory compliance

Stakeholder engagement

Training facilitation

Knowledge of foreign exchange products

Education

Bachelor's Degree in Banking, Finance, or related field - NQF Level 7

Compliance background

Job description

Job Summary

The Exchange Control Advisor serves as a key governance and advisory resource within the Group, responsible for ensuring compliance with Exchange Control Regulations as mandated by the Financial Surveillance Department (FinSurv) of the South African Reserve Bank (SARB). This role acts as a liaison between Absa and FinSurv, providing expert guidance on the interpretation and application of the Authorised Dealer Manual and related directives. The incumbent supports the retention of the Authorised Dealer licence and ensures that cross-border transactions are compliant, accurately reported, and reconciled.

Job Description

Accountability: Exchange Control Advisory & Compliance Oversight

• Provide expert advice on Exchange Control Regulations and ensure consistent application across the Group.
• Monitor and review cross-border transactions to ensure regulatory compliance.
• Submit applications and reports to FinSurv and maintain accurate reconciliation records.
• Act as the primary point of contact for FinSurv on Exchange Control matters.

Accountability: Governance & Risk Management

• Implement and maintain compliance methodologies to manage Exchange Control risk.
• Identify and escalate regulatory risks and non-compliance issues.
• Conduct Compliance Monitoring Reviews across business units.
• Ensure processes and procedures include adequate controls for Exchange Control compliance.

Accountability: Policy Development & Strategic Support

• Support the development and implementation of Exchange Control policies.
• Monitor regulatory changes and assess their impact on the Group.
• Assist in the integration of Exchange Control considerations into business strategies.

Accountability: Training & Awareness

• Facilitate training and awareness sessions on Exchange Control Regulations.
• Provide guidance to internal stakeholders and support the development of foreign exchange products.

Accountability: Stakeholder Engagement

• Maintain strong relationships with FinSurv and other regulatory bodies.
• Collaborate with internal teams to ensure alignment and compliance.
• Influence and support strategic initiatives related to Exchange Control.

Preferred Education

• Bachelor s Degree in Banking, Finance, or related field - NQF Level 7
• Compliance background advantages

Experience required:

• Minimum 5 to 10 years' experience in Exchange Control advisory or regulatory liaison.
• In-depth knowledge of South African Exchange Control Regulations and the Authorised Dealer Manual.
• Familiarity with cross-border payments and foreign exchange systems.

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised