Specialist: Exchange Control Compliance

Requisition Details and Talent Acquisition Contact

REQ ID: 147262 - Michelle Thabethe

Location: Sandton

Cluster: Group Compliance - GC MLRO AND CONDUCT MONITORING 

Closing date: 20 August 2026

Job Family

Governance And Compliance

Career Stream

Compliance

Leadership Pipeline

Role Purpose

The Specialist: Exchange Control Compliance provides practical regulatory advisory, monitoring, and evaluation support across Group Compliance Monitoring to the Nedbank Group (South Africa and Nedbank Africa Regions)

This role applies to solid technical knowledge of Exchange Control legislation, the Authorised Dealer requirements and Nedbank’s Exchange Control Policy, Risk Management Framework and Compliance Monitoring Methodology to assess whether Excon obligations have been translated into effective operational controls.

The Specialist executes risk-based Excon monitoring reviews, evaluates the adequacy and effectiveness of controls, supports the resolution of Excon findings and incidents, and provides clear reporting on Excon compliance risk, thereby supporting the protection of Nedbank’s Authorised Dealer licence, regulatory standing and client trust.

Accountabilities

Exchange Control Advisory & Support

• Analyses Excon controls against Exchange Control obligations, internal Excon policies, the Authorised Dealer Manual, regulator directives, circulars and related operating requirements to determine whether regulatory requirements have been appropriately interpreted and translated into operational controls.


• Provide clear interpretation of Excon regulatory requirements and respond to routine compliance queries, escalating complex interpretation, regulator engagement or policy matters to Senior Specialists, Managers, Group Excon or Legal as required.

Regulatory Implementation & Change Enablement

• Assist in interpreting new or amended Excon requirements and support their implementation through risk assessments, control mapping, procedure updates, checklists and stakeholder communication.


• Contribute to Excon regulatory change impact assessments, including changes affecting cross-border payments, applications, correspondence, reporting systems, systems enhancements and regulator-driven programmes.


• Support Excon training and awareness activities by identifying monitoring themes, control weaknesses, recurring findings and practical examples for business learning.

Risk Assessment & Control Testing

• Participate in Excon compliance risk assessments and document or validate controls in the Compliance Risk Management Plan (CRMP) or equivalent control documentation.


• Analyse the adequacy of Excon controls by confirming that controls exist, are appropriately designed, align to the correct interpretation of the applicable regulatory requirement and can be evidenced through a clear audit trail.


• Perform effectiveness testing, sample testing and data-driven testing over Excon controls, including manual, automated and system-output controls, in line with the Compliance Monitoring Methodology.


• Document control weaknesses, root causes, ratings, management actions, due dates and dependencies, ensuring findings are tracked through the approved findings management process.

Exchange Control Monitoring & Evaluation

• Execute Exchange Control monitoring activities in line with the annual coverage plan, formal review scope, ad hoc requests, regulator concerns, incidents, emerging Excon risks and coordinated assurance priorities.


• Monitor and evaluate controls relating to, where applicable, cross-border transaction reporting, BOPCUS and BOPCARD submissions, rejected transaction remediation, Evidence of Importation, foreign incoming loans, Foreign Currency Accounts, Customer Foreign Currency Accounts, non-resident accounts, Vostro accounts, allowances, Forward Exchange Contracts, blocked or restricted clients, applications and regulator correspondence.


• Assess whether business-as-usual and remediation populations are appropriately identified, sampled, tested and concluded on using a risk-based approach.


• Prepare clear monitoring reports that set out the scope, approach, testing performed, conclusions, control failures, root causes, recommendations, agreed management actions and overall compliance view.

Accountabilities Continued

Incident, Breach & Findings Support

• Assist with documenting, investigating and tracking Exchange Control incidents, breaches, regulatory findings, internal audit issues and compliance monitoring findings until resolution and findings assurance.


• Support the raising of non-compliance incidents where Excon legislative requirements, controls, reporting obligations or regulator expectations have not been met.


• Gather, evaluate and retain evidence relating to Excon findings, including management confirmations, closure documentation, system outputs, reconciliations, applications, correspondence and relevant transaction records.


• Support management in developing SMART remediation actions, including tactical controls where strategic system enhancements are required.

Stakeholder Collaboration, Reporting & Governance

• Work closely with business, cluster compliance, Group Compliance Monitoring, Group Excon, Risk, Legal, Group Internal Audit, Technology and operational teams to support coordinated assurance over Excon requirements.


• Provide practical, timely and reliable Excon compliance insights to governance forums, management reports and monitoring dashboards.


• Track and interpret Excon compliance risk indicators, recurring themes, unresolved findings, regulator interactions and emerging risks to inform monitoring priorities and management reporting.


• Maintain professional working relationships with stakeholders by providing balanced compliance challenge, clear recommendations and evidence-based conclusions.

Essential Requirements

• 5+ years’ compliance, risk, audit, legal, operations or regulatory experience in financial services, with demonstrable exposure to Exchange Control or cross-border banking requirements.


• Working knowledge of Exchange Control legislation, the Currency and Exchanges Act, Exchange Control Regulations, Authorised Dealer Manual, SARB Financial Surveillance requirements, circulars, directives and regulatory reporting obligations.


• Relevant degree or qualification in Law, Risk, Compliance, Finance, Business, Audit or a related field, or equivalent compliance experience.

Advantageous Requirements

• Experience with Exchange Control monitoring, assurance, audit, regulatory inspections, Excon applications, regulatory reporting or cross-border payments controls.


• Membership or certification through a recognised compliance, risk, audit or financial crime professional body.

Technical Expertise

• Exchange Control Regulatory Knowledge


• Compliance Advisory in Excon Operations


• Excon Compliance Risk Assessment


• Monitoring and Testing Execution


• Data, Systems and Reporting Insight


• Findings, Incident and Breach Management

Leadership Capabilities (Skills)

• Collaboration & Influence (Intermediate) - Ability to build trust and work effectively across compliance, business, risk, legal, technology and assurance teams.


• Decision-Making (Foundational/Intermediate) - Ability to make informed operational compliance decisions within defined limits and escalate complex matters appropriately.


• Change Agility (Intermediate) - Ability to adapt to regulatory change, amended Excon requirements, system changes and evolving business processes.


• Continuous Learning (Intermediate) - Demonstrates commitment to deepening Exchange Control, monitoring methodology, data analytics and regulatory reporting knowledge.

Behavioural Competencies

• Inspiring Excellence - Delivers Excon monitoring and compliance work accurately, reliably and on time.


• Business Savvy - Understands how Exchange Control obligations affect business operations, client processes, systems and regulatory outcomes.


• Connected Decision-Making - Balances regulatory requirements, operational realities, evidence and risk appetite when forming compliance views.


• Cultivating Networks & Partnerships - Builds cooperative relationships with compliance peers, Group Excon, assurance providers and business stakeholders.


• Ethical Practice - Upholds integrity, fairness, independence, confidentiality and professional scepticism in all Excon compliance activities.

Alignment Note

• This profile follows the structure and seniority of the Specialist: Compliance job profile, including equivalent role purpose, accountabilities, experience requirements and capability headings.


• The Exchange Control content has been tailored to Excon monitoring and evaluation, including regulatory advisory, adequacy and effectiveness testing, CRMP/control documentation, findings management, coordinated assurance, Excon KRIs, regulatory reporting and SARB FinSurv-related systems and requirements.


• This document is intended as a formal draft for HR and business review and should be validated against current Nedbank role architecture, grading and HR terminology before final approval.