Head of Exchange Control Unit

Are you looking for a career move that will put you at the heart of a global financial institution? Then bring your skills to Citi Exchange Control Team.

By Joining Citi, you will become part of a global organisation whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Team/Role Overview:

The Head of Exchange Control Unit will oversee the bank's exchange control operations, ensuring adherence to SARB regulations, internal policies, and international best practices.

You will be responsible for managing regulatory submissions, providing technical guidance on cross-border transactions, and engaging with regulatory authorities, clients, and internal stakeholders.

What you'll do:

• Lead and manage the Exchange Control Unit, ensuring full compliance with SARB Exchange Control regulations and playing prominent role in safeguarding of Citibank N.A. South Africa Branch’s license to act as Authorised deal.

• Provide guidance and assistance to other Citibank N.A. South Africa Branch Departments as well as to foreign correspondent banks on Exchange control related matters.

• Develop, implement, maintain internal procedures and controls related to exchange control. 

• Act as the primary liaison with SARB, the Financial Surveillance Department, and other regulatory bodies.

• Support different business areas to prepare for Exchange Control inspections by the Financial Surveillance Department of the SA Reserve and provide SME support for resolving any issues raised.

• Review and authorize exchange control applications, exemptions, and reporting submissions.

• Participate in the testing of new systems or processes that may have an impact on Exchange Control execution to ensure that the systems address the regulatory requirements adequately.

• Maintain and continue to build on the strong relationship between Citibank N.A. South Africa Branch and the Financial Surveillance Department of the South African Reserve Bank to ensure continued cooperation between the parties.

• Represent Citibank N.A. South Africa Branch at user groups and other forums pertaining to Exchange Control when required to do so.

• Support with the training of clients and other Citi Department on Exchange Control matters.

• Drive process improvements, automation, and digital initiatives for exchange control operations

What we’ll need from you:

• 5 - 10 years of experience in a related role

• Deep understanding of SARB Exchange Control Regulations and Financial Surveillance requirements.

• Effective communication and analytical skills.

• Strong leadership, communication, and stakeholder engagement skills.

• Expert level proficiency in Windows, MS Project, and MS Office Suite

What we can offer you:

By joining Citi South Africa, you will not only be part of a business casual workplace with a hybrid working model (up to 2 days working at home per week), but also receive a competitive base salary (which is annually reviewed) and enjoy a whole host of additional benefits that support you (and your family) to be well, live well and save well.

Alongside these benefits Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self every day.  We want the best talent around the world to be energized to join us, motivated to stay, and empowered to thrive. 

Sounds like Citi has everything you need? Then apply to discover the true extent of your capabilities.

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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

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