Senior Exchange Control Advisory Consultant

Job Location

Johannesburg, ZAF

As a Senior Exchange Control Advisory Consultant at Standard Chartered, you will play a pivotal role in upholding the integrity and compliance of our Exchange Control processes. Your primary focus will be to ensure strict adherence to Exchange Control regulations, safeguarding the bank's Authorised Dealer's License while delivering exceptional client service. You will proactively engage in identifying improvement opportunities within the branch to guarantee effective Exchange Control compliance aligned with regulatory guidelines.

In this role, you will support both Banking and Service Delivery Divisions by meticulously managing operational risks to prevent financial or reputational losses resulting from non-compliance, including processing errors or fraud. A thorough understanding of transaction nature in relation to Exchange Control is essential to ensure administrative alignment with prevailing rules, regulations, and policies.

Additionally, you will be responsible for researching, compiling, and submitting well-substantiated applications to the South African Reserve Bank (SARB) Exchange Control authority, representing both the bank and its customer base where necessary. Your diligent administration will encompass systematic filing of all reported transactions and bank reports on shared platforms, serving as the loan reporting system administrator as well. You will contribute to business continuity planning (BCP) by participating in BCP testing in accordance with group standards.

Routine generation and dispatch of reports and standard letters concerning Advance Payments, Merchanting Transactions, Non-Resident dealings, CFC (Customer Foreign Currency) transactions, and Forward Exchange Contract (FEC) processing will form part of your core responsibilities. You will lead the investigation and timely resolution of all SARB onsite and offsite inspection findings, ensuring comprehensive follow-up on all enquiries. Managing the Exchange Control mailbox daily to respond to all transactions and queries within agreed service level agreements will be key to maintaining seamless operational standards.

• Your responsibilities will include the meticulous logging of daily activities, ensuring complete transparency and traceability.
• You will proactively monitor client exchange control applications approaching expiry and follow up at least one month before expiry using standardized tracking tools maintained on the shared drive.
• Providing expert advice and assistance to clients through various communication channels—be it face-to-face, telephonic, or electronic—is essential to maintain high service standards. Promptly managing and updating the generic Exchange Control mailbox will be crucial for effective client interaction.
• Internally, you will be tasked with ensuring that all pertinent information is uploaded and consistently updated on the shared drive on a monthly basis to optimize knowledge sharing among Exchange Control team members. In cases where clients’ transactions impact service quality—particularly for Platinum or Hyper-care clients—you will elevate issues according to established guidelines, in collaboration with client service or management teams as appropriate.
• You will actively contribute to implementing Strategy directives from the Cash Group and Exchange Control Policy framework to align with overall business objectives.
• Ensuring all Exchange Control transactions are accurately vetted against Balance of Payments (BoP) categories and reported in strict adherence to regulations and within agreed processing time frames forms the bedrock of this role. Maintaining continuous operational readiness of the BoP and associated Exchange Control systems is imperative. You will oversee reporting of transaction processing, utilising vendor systems such as Synthesis to identify and rectify discrepancies.
• Your accountability extends to managing the integrity of all data submitted to SARB through Cross Border Foreign Exchange Transaction Reporting Systems.
• Regular inclinations will include daily and monthly filing adhering to prescribed timelines,…