The posting
Job Description
Detailed description
The successful candidate will be responsible for the following key performance areas:
- Supervisory oversight of designated financial conglomerates, banking groups, banking subsidiaries and branches of designated banks (collectively referred to as ‘banks’).
- Assess and analyse the strategies and business models of banks.
- Analyse and assess the business portfolios of banks.
- Analyse and form a supervisory view of the risks facing banks and the impact thereof on their risk profiles.
- Analyse and assess the adequacy and appropriateness of business and risk management practices applied by banks as well as and the alignment thereof with industry best practices.
- Analyse and assess the evolving economic and operating environment and the impact thereof on banks’ risk profiles.
- Identify and monitor emerging risks and the potential impact thereof on the banking sector and individual banks, in particular.
- Develop and apply analytical methods to analyse and interpret risk-based regulatory data submissions.
- Assess compliance with the Banks Act 94 of 1990 and the Regulations relating to Banks.
- Prepare detailed quantitative and qualitative reports based on the outcome of analysis performed.
- Prepare detailed formal feedback to banks following on-site reviews and prudential meetings held with banks’ management, executives, boards and board subcommittees.
- Plan, arrange, prepare for, and conduct on-site reviews and prudential meetings with banks’ management, executives, boards and board sub-committees.
- Present the outcome of ongoing analysis and supervisory assessments to senior management of the Prudential Authority and representatives of banks.
- Maintain permanent electronic records in respect of banks.
- Manage correspondence pertaining to banks.
- Undertake ad hoc projects as assigned by management.
- Perform duties as a relationship manager by, among other things, undertaking frequent, often high-level liaison with banks and other interest groups, such as the external auditors of banks.
Qualifications
Job requirements:
To be considered for this position, candidates must have:
- A postgraduate qualification (NQF 8) in Finance, Accounting, Banking, Economics, Risk Management or a relevant equivalent qualification; and
- five to eight years’ relevant working experience in a regulatory environment or the financial sector.
Additional requirements include:
- innovative;
- problem-solving and analytical skills;
- financial and business acumen;
- attention to detail;
- excellent verbal and written communication skills;
- ability to effectively and efficiently manage time;
- proven ability to influence, build and maintain relationships;
- good working knowledge of the Microsoft Office suite and other related business and analytical software packages;
- conversant with the Banks Act 94 of 1990, Financial Sector Regulation Act 9 of 2017 and related Standards and Regulations;
- knowledge and understanding of the Basel Committee on Banking Supervision’s Core Principles for Effective Banking Supervision;
- knowledge of prudential supervision and the supervisory framework applied in South Africa;
- knowledge of risk management standards and practices applied by banks and banking groups;
- an understanding of key issues and risks facing banks and banking groups;
- an understanding of the business models applied by, and the financial and operating environment of banks; and
- knowledge and understanding of corporate governance standards as they relate to financial firms.
In line with the SARB’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply.
The SARB offers remuneration and benefits commensurate with the level of the position and in line with the market. The level at which the successful applicant will be appointed will depend on his/her experience and competence.
About Us
About SARB
Primary mandate of the SARB
Section 224 of the Constitution of South Africa states the mandate of the SARB as follows:
The primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic.
The South African Reserve Bank, in support of its primary objective, must perform its functions independently and without fear, favour or prejudice.
WHAT WE DO
Monetary Policy
The Constitution gives the SARB the mandate to protect the value of the rand. We use interest rates to keep inflation low and steady.
Financial Stability
The SARB has a mandate to protect and enhance financial stability. We identify and mitigate systemic risks that might disrupt the financial system.
Prudential Regulation
The Prudential Authority regulates financial institutions and market infrastructures to promote and enhance their safety and soundness, and support financial stability.
Financial Markets
Open market operations are the main tool we use to implement monetary policy. We manage South Africa’s gold and foreign exchange reserves.
Financial Surveillance
The SARB is responsible for regulating cross-border transactions, preventing the abuse of the financial system and supporting the regulation of financial institutions.
Payments and Settlements
The SARB is responsible for ensuring the safety and soundness of the national payment system, which is the backbone of South Africa’s modern financial system.
Statistics
The SARB provides important economic and financial statistics that present an overview of the economic situation in South Africa.
Research
Research conducted by the SARB focuses on economics, financial stability, banking and emerging trends in finance. Our research supports policy decision-making.
Banknotes and Coin
The SARB has the sole right to make, issue and destroy banknotes and coin in South Africa.
