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Team Leader, Exchange Control At Stanbic IBTC

Date Posted: 29/Sep/2013
Deadline: Not Specified


Position Description  

•Support and assist the Manager, Compliance & Exchange Control by providing efficient and effective planning and management of the people, systems and processes within the Exchange Control & Compliance team(Form M, Form NXP, RAR) so as to provide a level of operational efficiency and customer intimacy required for best customer experience and minimize operational losses as well as ensure good external relationships.
•Represent IBC Internally & Externally at industry representative forum and other forum pertaining to EXCON & Ensuring that Stanbic IBTC stays in step with the statutory requirements of Central Bank and other regulatory bodies.  

Key responsibilities

Strategic Execution

•Supervise the process steps and activities within Exchange Control team as it relates to Form M, RAR, shipping documents, FECD team and ensure strict adherence to the procedure.
•Ensure prompt resolution of exceptions escalated by processing officers on Form M, Shipping Documents, RAR and Final Exchange Control desk.
•Keep abreast of all legal and exchange control regulations in relation to the process steps and activities within assigned duties.
•Liaises with the Scanning Companies and ensures tracking of all forms M until acceptance is received as well as shipping documents sent for RAR processing.
•Reviews the rejection from Scanning Companies on daily basis and push for resolution promptly.
•Ensure prompt notification/letter goes to CBN for all Petroleum products at the point of form M processing completion and purchase of WDAS purchase which will be advised by GM.
•Preparation of the CBN WDAS purchases utilisation schedule.
•Recommend changes and review to procedure as regulatory environment and business realities change.
•Report, recommend and/or execute disciplinary measures for erring staff.
•Back up for Team leader, Regulatory reporting & CCI.
•Back up for Regulatory returns desk.
•Back up for Final Exchange Control documents(FECD)
•Confirmation of WDAS transactions to Global market.

Customer and Business Partner Relationship Management

•Identifies customer service expectations, applies SLAs and aligns to the Customer Value Proposition in order to deliver an appropriate service.
•Enhance the bank’s image through effective customer service.
•Treat external and internal customers as the most important parts of the business unit hence aim for the highest rate of satisfied customer.
•Maintain a good service relationship with IS,ICB, PBB, GM, GMO, Reconciliation department and other
•Reduction in customer complaints.

Cost Management

•Develops and implements tactical initiatives to reduce cost.

Resource Utilisation

•Ensures effective, efficient and optimal utilisation of all resources (human and capital) to be responsive to competitive pressures, changing market conditions, client needs and business strategies

Operational Performance

•Identifies and defines tactical operational performance metrics geared towards meeting IBC  objectives by leveraging opportunities
•Collaborates with other areas to ensure that best practices and a standard approach is followed
•Provides accurate and timeous MIS as per the matrix agreed with Centre (ROA Operations) to enable informed decision making


•Identifies, assesses and mitigates the risks facing both systems and business processes thereby minimising the operational risks.
•Liaises with business stakeholders in ensuring that regulatory, group policy standards and minimum operating procedures are observed to minimise the Bank’s exposure to risk.

People management

•Attend to the planning and scheduling for staff going on leave.
•Attend to the training needs of staff being formal training or on the job training.
•Ensure that all Job descriptions and Duty lists are in place and maintained for all staff members.
•Promote an innovative and proactive spirit among staff.
•Conduct proper control of the Balanced score card and appraisals for all staff.
•Monitoring, Coaching and mentoring to poor performers staff members.
•Ensure the facilitation of systematic or structural changes is adhered to.   
•Ensure full support and guidance is given to staff as well as maintaining a hands-on approach with respect to the activities of the unit.
•Participate in career management committee session.
•Able to deal with problems & staff issues effectively with minimal impact on external customers.
•Provide professional advice to assist in planning and decision-making (Financial Planning).

Self Development

•Identifies appropriate formal and occupational (informal) training needs and courses (internal/external) to develop oneself.
•Up-Skills oneself regarding new products and procedures through attendance of workshops/presentations and reading of internal and external communications presentations and reading of internal and external communications

Key performance measure
•Maintaining a good service relationship with both the internal and external customers.
•Self development through on/off the job training.
•Effective management of department’s costs and resources.
•Ensure that systems and processes are appropriate.
•Compliance to regulatory requirements governing banking practices.
•Effectiveness in management and mitigation of operational risks.
•Achievement of business objectives.


Method of Application

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