Manager: Exchange Control Compliance

Description

• Responsible for the overall Management and Control of the Exchange Control Compliance Unit for Bank Windhoek

Duties

• Risk Management and Compliance:
• Ensure commercially sound exchange control compliance guidance in a professional and helpful manner, always considering the potential alternatives within the rules and regulations applicable, endeavoring to find solutions to ensure compliance as well as the continuation of business
• Ensure adherence to all local and international Regulatory requirements including BON Determinations, AML, FATCA and Exchange control requirements
• Identify and refer or report potential risks (Excon, AML & FIA, counterparty, operational in accordance with Policies, guidelines and tolerance levels) to ensure minimum possible risk to the Bank
• Keep abreast of all changes and enhancements within the EXCON environment by e.g. reading media reports, studying amendments to Currency & Exchanges Manual, attending to internal Excon committee meetings, attending to circulars received from BoN and the communication of information to all relevant parties
• Perform ad hoc audits to ensure that Excon Currency & Exchanges Manual and Regulations and the Bank Windhoek’s Policies and Procedures are being adhered to by drawing (selecting) a sample of transactions processed and checking these for accuracy, validity and completeness
• Responsible for addressing and correcting all internal Audit and BoN assessment findings raised against the excon compliance unit within given deadlines
• Process, Systems and Functional: 
• Continuously look for ways to improve and develop systems and methods to ensure operational excellence and manageable risk
• Provide support to branches and other internal stakeholders with queries and unique needs
• Follow industry developments and regulatory requirements to ensure compliance
• Represent the Bank on related Industry Committees and platforms
• Keep staff informed of new trends in the industry and Excon implications
• Assist Department Head with subject related projects
• Stakeholder Engagement & Service Delivery:
• Liaison with the Bank of Namibia , Excon Department on behalf of Bank Windhoek
• Provide specialist Excon advice and assistance to Branches, Sales Advisors and Relationship Executives by providing technical specialist input from an Excon perspective or accompany Bank Windhoek/ Capricorn Group staff on client visits
• Provide specialist Excon advice and assistance to branches, customers, intermediaries and Head Office Divisions to ensure Compliance with the Excon Currency & Exchanges Manual
• Build relationships with the relative Treasury and International Operations staff to develop a credible network and transfer the required skills and specialist knowledge them on an ongoing basis
• Attend relevant bi-monthly BoN Excon committee meetings
• Attend AD meetings with EXCON officials at the BoN accompanied by the Manager International Operations
• Building relationships and regular interaction with Excon representatives of other local Banks in order to develop a credible and relevant network to ensure we stay abreast with relevant market challenges and opportunities
• Ensure that all staff is updated with EXCON changes and enhancements and ensure that all relevant BON information and directives are recorded and circulated to staff
• People Management:
• Oversee the implementation and management of people process management processes within the excon compliance unit
• Ensure compliance with all Human Resources policies within the excon compliance unit
• Conduct performance discussions within the excon compliance unit and implement interventions to address performance gaps

Requisites

• Minimum Qualifications:
• Relevant Degree in Business Commerce or Law
• Experience/Knowledge and Skills:
• At least 5 - 7 years banking experience of which a minimum of 4 years being in a management capacity
• Excon experience with direct interaction with the BoN
• Detailed experience with Cross Border Foreign Exchange Reporting System (Balance of Payments) and good knowledge of reporting requirements
• In-depth knowledge of BoN Excon Regulations and Currency & Exchanges Operational Manual
• Knowledge and understanding of the FIA, FATCA, FATF & Regional Customs Processes
• Knowledge and understanding of the Bank’s products, systems and procedures
• Competencies:
• Sound knowledge of international bank products
• Sound knowledge of retail banking products
• Sound knowledge of the Currency and Exchange Manual
• Logic thinking /reasoning
• Leadership and management skills

Notes

• Only shortlisted applicants will be contacted