Local Exchange Control Officer at Standard Chartered Bank

Job Summary
Local Exchange Control
Foreign Exchange(FX) Settlement

• To ensure effective control and compliance with Operating Procedures for all service delivery in relation to FX Securities Services Settlement in the country.
• Ensure exchange control documentations are in place for all repatriation.
• To ensure adherence to regulations around Foreign Exchange, its sourcing and utilization
• To plan, direct, and control the effective and efficient.
• Repatriation of equity, fixed income and corporate action proceeds
• Registration, tracking and reconciliation of Certificate of Capital improtations (CCI) in respect of foreign clients’ investments.
• Following up with Clients to ensure FX deals booked are promptly utilized.
• Processing of Inflows and initiating request for CCIs
• To ensure all CCI confirmation requests are responded to timely.
• Prompt assessment of all new local regulations that may affect Clients fx inflow and
• Repatriation
• Work with other team members to achieve optimum output through guidance and monitoring.

Reconciliation

• To ensure daily CCI reconciliation (Securities and Cash) and escalation of exceptions to the Head of Securities Services Operations

Quality Service

• To ensure the highest levels of Customer Service and proactively seek improvements to meet customer needs and requirements and where opportunities arise to exceed them in accordance with the business plan and in close liaison with sales and product partners; and assist the Client Service Manager in providing quality responses to client queries on Local Exchange promptly.

Key Responsibilities
Reporting

• To ensure all regulatory reports are submitted within timelines as specified.

Security Management

• Direct and review inspection/internal control reports and seek loss avoidance, with due regard to the costs and risk control procedures. Co-ordinate and communicate all matters relating to the development and management of security, ensure that effective business continuity plans and emergency management procedures exist, and to certify adequate protection of staff, assets and property. In the event of necessity investigate fraud, loss, and other irregularities. Take measures to prevent drug money laundering, computer, and communications security as per guidelines.

Compliance

• In conjunction with Country Compliance Officers, Head of SS operations and Chief Information Officer, Nigeria ensure, without fail, that unit complies with the Bank's rules and local laws.

Fraud and Money Laundering Risk

• To ensure awareness amongst staff, adherence and implementation of the Group Anti Money Launring (AML) Standards and Country Customer Due Diligence (CDD) Policies, The ability to quickly assess a situation and decide on an appropriate course of action and the ability to implement that decision in a pressurized work environment compounds the level of complexity and In terms of providing this support areas covered include policies, procedures and processes.

Competitor Benchmarking

• To benchmark customer service with the market (which includes all appropriate service providers in the service industry) and competitor pricing in the custody business and determine ways of achieving leadership.

Employees and agents

• Support local office to ensure implementation of local HR policies, including appointment, career planning and development of staff and succession planning in the area under responsibility.

Audit and Investigations

• provide prompt response to audit requests and ensure that appropriate remedial action is taken in response to audit findings.

Projects And Additional Tasks

• Any projects or additional tasks assigned by Head, securities services Nigeria.

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Stakeholders
Internal

• Head of Securities Services Operations for Service delivery and controls
• Head of Cash Management for Payment policies and interoffice processes
• Head of Legal for Regulatory matters in respect of legal documentation, the Capital Market laws and practice.
• Relationship Managers/Service Management for Client Servicing
• Transactional banking for Credit Approval
• Group Product Managers for New product implementation.
• Group Network Services Managers for Policy, Cost and Service Consistency
• IT Project Manager for direction on IT projects and implementation
• Audit Manager for audit matters.
• Treasury/Front office for FX booking and ALM reporting.

External

• Stock Exchange and Regulatory Bodies for regulations and Market Practices and industry projects.
• Industry Counterparts for liaison, benchmarking and sharing common problems.
• Overseas Institutional Customers for Client Service, Market developments, general liaison matters.

Skills And Experience

• MS Office suite
• Data analysis
• Effective communication
• Collaborating tools approved by the bank

Qualifications

• Education Bachelor’s Degree in Management or Social Science
• Training Regulatory Reporting, ECCI PORTAL and Other Relevant to the role
• Certifications CIBN, CIS, CISI, ACA, CFA are added advantages.
• Languages English