Supervisor: FX Compliance Administration (m/f)

Description

• Responsible for the effective management and control over administrative systems, costs, inherent related risks, Regulatory Exchange Control and FIA/FIC Compliance, relating to Cross Border payments. Monitor customers’ Cross Border business service and product needs
• Supervise Compliance and administrative functions of the FX Compliance Department (Remittances)
• Establish and manage an efficient internal network and working relations and liaison between, Exchange Control Department, OPO’s and Retail to ensure that all objectives of the Bank as well as other stakeholders are met, as well as support of Internal and external clients with queries and unique needs
• Internal liaison with BWK/Group ALM & Exchange Control Compliance

Duties

Business Acumen and Market Understanding

• Contribute towards the innovation and utilization of technology systems to enhance the operations of the Department and the Bank
• Provides expertise, oversight, guidance, and advises on regulatory requirements that may affect the overall Business Unit and Branches
• Oversees the Business Unit Compliance mitigation measures
• Advises and guides Business Units on Regulatory related Guidelines, Compliance process requirements to ensure compliance with new or existing regulations and best practices, by conducting regular visits to Windhoek based offices and outside branches, Circulars and training
• In-depth knowledge of the INTERNATIONAL BANKING SERVICES products, as well as Regulatory and
• Compliance requirements to accurately advise and consult on proposed new products, services. Fresh initiatives to mitigate and meet Compliance obligations, Regulations e.g., AML, Exchange Control and BON directives
• Awareness of competitor’s activities and clients ‘constant changing needs
• Update on regular basis Forex Manuals, as well as the Currency and Exchange Manuals as per Circulars issued by Regulators, as well as implementation of latest FIC directives

Administration

• Manage Compliance requirements and internal risk policies pertaining to the business unit and Retail Banking (Branches)
• Monitor and report on activities and provide relevant management information to relevant stakeholders
• Support Branches, Private and corporate clients, with queries, and specialized advice
• Calculate/identify and recommend product, price and target customers
• Manage the following administrative requirements of the business unit effectively:
• Discretionary Allowances (SDA’s)
• Contract Workers
• Advance Payments on Imports
• Exports (F178’s)
• Exchange Control Applications
• Report all non-compliance to the Exchange Control Department for further reporting to the Regulators
• Ensure Metric Data issues are identified and taken up with the relevant departments to mitigate and avoid similar occurrences.
• Provide Monthly Metrics Data report
• Provide Quarterly SDA report

People Management

• Make effective recommendations to staff at the division to reach set targets and objectives
• Ensure that the right people are placed in the right positions to ensure effectiveness in all activities concerned
• Manage the development of staff through appropriate training, exposure and mentorship whilst supporting all staff towards obtaining academic advancement
• Manage succession-and capacity building plans as well as learning and growth opportunities
• Implement and manage a job-rotation schedule
• Enhance International Banking Services and other in-house people skills and competencies thereby ensuring that our value proposition remains competitive

Key Performance Measures

• Financial: Keep penalties and errors to a minimum. Manage controllable costs
• Risk: Satisfactory audit reports (Internal Audit, FIC & BoN)
• Capricorn Way Behaviours:
• Wisdom – Choose when to speak and act
• Motivation – Be an example of what is possible
• Resilience – Navigate the ups and downs with perseverance
• Curiosity – Ask in order to learn, improve and discover
• Initiative – Don’t wait to be told what to do
• Enjoyments – Stop. Be aware of the good things that are happening, big and small
• Impact – Busy does not equal great results
• Engagement – Be fully present when you are with others

Key Dimensions of the Job

• Important relationships - Maintains and nurture sound relationships with heads of departments within the bank to facilitate cross-selling opportunities:
• Branch Managers
• Corporate and investment banking
• Treasury Division
• IT
• Project Office
• Internal audit

Problem solving, planning and decision making

• Problem solving:
• Manage and refer complex customer concerns and complaints to the Manager: International Operations
• Manage and investigate high value claims to recommend forensic audit or referral to the Manager:
• International Operations
• Manage and refer disciplinary and grievance matters to the Manager: International Operations
• Systems: Manage, discuss and implement changes to procedures recommended by internal/external auditors
• Planning:
• Manage action plans, priorities and service standards to achieve business targets
• Decision making:
• Processes – i.e. new systems and risk management to enhance customer retention in conjunction with the Manager: International Operations
• People – i.e. talent identification, promote skilled and dedicated personnel. Identify Number of skilled resources required by reference to the Manager: International Operation
• Customer – i.e. based on research of client needs which products to develop, enhance or cancel , seek for new business and recommend to the Manager: International Operations

Requisites

• Minimum of 10 years in the banking sector of which at least 5 years should be in a Supervisory position in the International Banking environment
• Must have a clear and in-depth understanding of the Regulatory requirements to which the business unit must conform to and comply with
• Intermediary knowledge of SharePoint & MS Excel
• Grade 12
• A relevant Diploma / Degree
• Personal Competencies (skills):
• Planning, organizing and manage appropriately the unit in order to achieve targets
• Comprehensive understanding and sound knowledge of the Bank’s various systems, policies, procedures and legislation
• Leadership abilities and people management skills
• Reliable and trustworthy
• Ability to work under pressure
• In depth knowledge of Exchange Control, AML

Notes

• Only shortlisted applicants will be contacted