Excon Vetting Officer

Requisition number: 133766

Closing date: 17 May 2024

Location: Namibia- Windhoek

Job Family

Administration, Operations and Facilities

Career Stream

Admin, Transact Processing and Production

Leadership Pipeline

Manage Self: Operational

Job Purpose

To assist the Manager of Exchange Control by compiling applications to BON and giving guidance in foreign exchange to all our clients and other interested parties regarding the operation of the Exchange Control system in Namibia

Maintaining high level of compliance to Exchange Control Regulations, ensures financial stability, safeguarding national interests, and facilitating international transactions

Job Responsibilities

• Control and a robust command of an efficient exchange control administration

• To ensure that all cross-border payment order requests complies with the exchange control rulings and that all outward payment requests have been vetted against the OFAC and country sanctions lists.

• Interview and advise clients on Excon matters and; Compile Exchange Control applications to Bank of Namibia on matters outside the authority granted within the rulings.

• To maintain registers for all Excon applications, monitoring Excon expiry dates, loan drawdowns, and any other Excon that necessitates monitoring.

• Ensure new applications are submitted prior to the expiry date and outstanding information or documentation is obtained timeously.

• Regularly review and update transaction records within the SafeWatch system. Ensure accurate and timely documentation of all financial transactions, flagging any suspicious or unusual activity for further investigation.

• Review Omnibus Travel facility applications as per BON regulations and prepare response letters for approval.

• To Monitor Exchange control rules and regulations and ensure that new Excon circulars are interpreted and updated/amended in the rulings.

• Ensure that payments comply with the decision-making matrix and the OFAC and country sanctions lists and that payments to OFAC countries are promptly submitted to the Sanctions alert committee for approval.

Job Responsibilities Continue

• To ensure that there are no breaches of the Exchange control rulings and to stay abreast of any changes to the Exchange Control Rules & Regulations.

• To ensure adherence to the Risk and Compliance policies.

• Identify potential risks associated with exchange control transactions and take appropriate mitigation.

• Prepare and submit regular reports to the Bank of Namibia regarding exchange control activities

• To ensure accurate and quality data submission for BOP reporting

• All Excon Fees to be collected accurately i. t. o. pricing manual.

• All expenses to be kept to a minimum.

• Improve personal and professional capability and stay abreast of developments in field of expertise by identifying training courses and career progression opportunities.

Abilities Requirements

• Strong Analytical skills

• Attention to detail.

• Excellent Interpersonal skills

• Good Communication skills

• To Be Professional at all times

• To Be proud of Global Business and your personal contribution to its success

• Ensure that clients queries & complaints are attended to and/or resolved within 24hrs’

• Ensure that losses through negligence will be at a minimum.

Essential Qualifications - NQF Level