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. 

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.