The purpose of the position is to effectively support the Business Banking Operations department. These functions will include vetting and releasing Forex payment documents, ensuring the accurate approval of Foreign Exchange Transactions (OTT/ITT/EFT'S) and provide a support function for Forex Query Management within the defined schedules and service level agreements.
Description Of Tasks
Daily Operational functions
- Responsible for vetting payment documents for Forex transactions (Inward and Outward Payments)
- Ensure compliance to industry regulations with all vetting with a thorough understanding of Exchange Control Rulings and Regulations
- Responsible for the safe keeping of documentation related to processes accounts.
- Responsible for daily monitoring of various reports and escalation of any adverse data, suspicious transactions or suspicious activity on client accounts.
- Provide external and internal stakeholders with updates and reports.
- SWIFT or confirmation of payments where required by clients.
- Transaction information (Bop forms and supporting documents) to Internal audit or regulator where required.
- Daily stats and update on daily queues where required.
- Processing of financial transactions on Enterprise and Calypso (Outward TT payments; Journals; EFT's)
- Adhere to laid down processes and procedures to ensure that there are no duplications, missed payments and accounts overdrawn during the transaction process.
- Prioritise payments according to currency cut-off times and ensure that payments submitted before document submission cut off time are attended to as and when received by clients.
- Ensure that transaction documents are correctly processed and cleared in Dynamics daily.
- Daily feedback and updates on the recons outstanding within 24 hours of receiving the unreconciled items.
- Ensure the relevant queues in Calypso and Swift are clear throughout the day and ensure all queues are cleared by providing an end-of-day report at the end of each business day.
- Capture Transaction Banking Payouts for internal divisions.
- Ensure all unutilised trades are reported to the Forex Dealers within currency cut off times.
- Verify manual payment related messages on SWIFT.
- Ensure that transactions are correctly reported on BopCus and that any escalations to Excon are done so immediately after identifying the need for further escalation.
- Attends to the final release of foreign exchange transactions accurately, timeously and according to laid down processes.
- Ensure compliance to industry regulations has been adhered to prior to the final release of payments with a thorough understanding of Exchange Control Rulings and Regulations
- Ensure the BopCus form on each payment has been accurately captured by the capturer in the Calypso and that the correct information will be reported to the SARB.
- Ensure the approval of PvP in Calypso is correctly managed and that no payments are released in the absence of sight of funds.
- Responsible for daily monitoring of various reports and escalation of any adverse data, suspicious transactions or suspicious activity on client accounts.
- Provide external and internal stakeholders with updates and reports.
- SWIFT or confirmation of payments where required by clients.
- Transaction information (Bop forms and supporting documents) to Internal audit or regulator where required.
- Daily stats and update on daily queues where required.
- Closely monitor queues throughout each business day and ensuring that payments not attended to before cut-off time are escalated accordingly.
- Adhere to laid down processes and procedures to ensure that there are no duplications, missed payments and accounts overdrawn during the transaction process.
- Allocate payments to the collating team daily and ensure all payments instructions have been attended to daily. Closing stats must be provided to the Senior Manager Forex at the end of each business day.
- Prioritise payments according to currency cut-off times and ensure that payments submitted before document submission cut off time are attended to as and when received by clients.
- Ensure that transaction documents are cleared on the BBBForexOps Box and on Dynamics daily in conjunction with Collaters.
- Modify payments in SWIFT daily where applicable.
- Assist on Ad-Hoc functions as requested by line manager.
- Check Nostro accounts have been cleared and that Inbound accounts are properly managed by the Inward TT Support team.
- Release Inward foreign exchange transactions accurately, timeously and correctly in line with client BOP form
- Ensure the BopCus data on Inward TT payments is accurately reported to SARB.
- Follow up with clients on outstanding recon items within turnaround times.
- Ensure that the EFT instructions are accurately released as per client instruction.
- Complete and submit all EFT instructions above R5million to Treasury before cut-off times where applicable.
- Ensure the daily balance report is checked and any anomalies on overdrawn CFC accounts are managed and cleared within 24 hours.
- Any anomalies or deviation to process causing overdrawn CFC accounts is escalated to management within 24 hours.
- Authorise Free Format messages that relates to queries, requests, amendments, etc.
- Authorise Free Format Messages (backup to authoriser)
- All foreign exchange related queries must be dealt with within turn-around times.
- Clients and RM's must always be kept updated on queries.
- Assist fellow colleagues where needed
- Log all calls relating to the Calypso system, Payment platform, Swift, etc
- Perform testing on the forex systems when required
- Minimum Matric Grade 12/ Relevant Experience
- 5+ years in Foreign Exchange
- Attention to detail
- Sense of urgency
- Good communication skills
- Ability to manage time and tasks in a fast-paced environment
- Forex knowledge preferable
- Familiar with swifts
Market related Cost to Company, based on qualification and experience
Interested applicants can forward their CV to [Email Address Removed] by no later than 31 May 2023. Shortlisted applicants will be required to undergo employment checks.
- Please consider your application unsuccessful if you have not received a response within two weeks of submission.
- Foreign Exchange
- Payments
- Forex
- 2 to 5 years Banking
- 5 to 10 years Agent / Business Manager of Talent
- Certificate
Who we are
- Our personal touch, digital platforms and agility allow us to compete effectively.*
We enable entrepreneurs and investors to grow their businesses and global wealth, supporting job creation and sustainable socio-economic development.
Employer & Job Benefits
- Pension
- Medical Aid
- Performance Bonus
- Flexitime
