Team Lead, Exchange Control and Regulatory Reporting at First Bank

Summary of Job Role (Duties and Responsibilities)    

• Manage the execution of the Bills for Collection, PAAR Processing, and Form M Processing functions, ensuring alignment with the bank’s goals, strategies, and regulatory obligations.
• Oversee the end-to-end process management, ensuring all operational targets and compliance standards are met.
• Coordinate and oversee the Bills for Collection process, products, and functions, ensuring all collection and payment procedures comply with collection order terms and conditions.
• Lead the enforcement of compliance with the Foreign Exchange Manual and International Uniform Rules for Collection.
• Supervise mandatory compliance with regulatory forms (Form M) registration, shipping documents delivery/collection, Bill of Exchange acceptance, PAAR issuance and delivery, and Exchange Control document processing.
• Ensure timely and accurate delivery of reports and other regulatory returns to stakeholders.
• Supervise the timely issuance and delivery of PAARs in accordance with regulatory requirements.
• Coordinate engagement with external regulators and stakeholders to ensure smooth PAAR processing and compliance.
• Provide leadership in the PAAR reconciliation process, ensuring accuracy and compliance with exchange control guidelines.
• Oversee the process of Form M registration, ensuring adherence to exchange control regulations.
• Coordinate with relevant departments to ensure proper processing and documentation for Form M submissions and approvals.
• Oversee the preparation and timely submission of regulatory reports, returns, and ad-hoc filings for all three units (Bills for Collection, PAAR Processing, and Form M Processing).
• Monitor changes in regulatory frameworks and ensure processes and policies are updated to maintain compliance.
• Manage relationships with external stakeholders, including regulators, local and foreign counterparts, to ensure smooth operational processes.
• Lead discussions with internal and external stakeholders to develop and enhance products, technology platforms, and operational strategies for improved service delivery and compliance.
• Oversee the identification, management, and mitigation of operational risks within the Exchange Control and Regulatory Reporting functions.
• Ensure that risk controls are implemented across all units, conducting periodic risk assessments and collaborating with risk management teams to implement corrective actions.
• Supervise the daily and periodic reconciliation of Nostro, GL, and Suspense accounts, ensuring open items are promptly resolved and accounted for.
• Ensure reconciliation processes align with regulatory and bank standards.
• Lead, mentor, and develop team members to create a high-performing, cohesive team, while driving capacity enhancement, skills development, and knowledge transfer initiatives to ensure the team remains up to date on regulatory changes and operational best practices.
• Identify opportunities for process optimization and continuous improvement within, leading initiatives to enhance operational efficiency, compliance, and overall service delivery in line with the bank’s strategic goals.

Minimum Year of Experience Required    

• 8-10 years of experience in Trade Functions

Education Background / Professional Qualification    

• First Degree in any discipline
• Trade Certification (CDCS, CSDG, CITF)
• Master’s degree and other professional certification (added advantage)