Purpose
The purpose of this qualification is to prepare a learner to operate as a Foreign Exchange Officer. A Foreign Exchange Officer processes the transfer of all types of foreign transactions in accordance with organisation requirements including domestic and international legislative prescripts. This includes the operation of all foreign products and the arrangement of foreign exchange deals for entities/individual customers. The Foreign Exchange Officer utilises a variety of different payment methods for the transmission of cross-border inward and outward funds. This includes processing and the verification of the accuracy of latest available exchange and interest rates. Foreign Exchange Officers also manage the various departments – dealing with foreign exchange – in financial institutions like banks. Learners who qualify shall be able to demonstrate the following attributes: punctuality, integrity, honesty, discipline, professionalism, interpersonal relations, principled, etc.

A qualified learner will be able to:

Process inward and outward transactions.

Perform middle office functions.

Process Foreign Bill for Collection Inward (FBCIs), Foreign Bill for Collection Outward (FBCOs) and guarantees.

Process import and export letters of credit.

Manage the processing of inward and outward transactions.

Manage the middle office.Manage the processing of FBCIs, FBCOs and guarantees.

Manage the processing of import and export letters of credit.