Specialist: Exchange Control Compliance

Title:

Specialist:
Exchange Control Compliance

Cluster:
Group Compliance - GC MLRO AND CONDUCT MONITORING

Closing date: 20 August 2026

Governance And Compliance

Compliance

Manage Self:
Professional

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.

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.
• 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.

Incident, Breach & Findings Support

• Assist with documenting,…