Associate Analyst – Data Risk at South African Reserve Bank

Brief Description        

• The main purpose of this position is to realise the responsibilities of the Prudential Authority (PA) at the South African Reserve Bank (SARB) in respect of the supervision and regulation of data risk, including risk data aggregation and risk reporting (RDARR), in regulated entities.

Detailed Description        
The successful candidate will be responsible for the following key performance areas:

Supervision

• Participate in supervisory practices in relation to data risk, including RDARR, in regulated entities, including inspecting practices in regulated entities.
• Ensure regulated financial institutions’ compliance with regulations governing data risk and RDARR.
• Review and evaluate banks’ data risk frameworks, reports and ability to manage data-related risks.
• Develop methods to analyse and interpret submissions from regulated entities, including assessments, questionnaires, project plans and other ad hoc submissions.
• Provide data risk- and RDARR-related specialist support and technical assistance.
• Conduct on- and off-site reviews in terms of data risk and RDARR from an industry perspective, and contribute towards, assist with and participate in entity-specific reviews.
• Contribute towards risk-based meetings with regulated entities and their auditors.
• Stay abreast of international and local best practice and developments surrounding data risk and RDARR.
• Support the Divisional Head: Operational Risk and Information Technology (IT) Risk as well as the Senior Analyst with regard to all data risk- and RDARR-related matters.
• Ensure widespread cognisance and understanding throughout the PA of the concepts and developments in the field of data risk and RDARR.

Regulation

• Assist in the form of conducting research and providing input into the regulatory framework – including (but not limited to) the Banks Act 94 of 1990 (Banks Act), the Regulations relating to Banks (Regulations), circulars, directives and guidance notes – in line with international best practice.
• Assist with the development of internal policies and processes.

Job Requirements        

• To be considered for this position, candidates must be in possession of:
• a Bachelor’s degree (NQF 7) in Accounting, Auditing, Banking, Computer Science, Finance, Information Management or Risk Management; and
• at least 2–5 years of relevant working experience in the financial services industry or the financial regulatory sector.

The following would be an added advantage:

• a postgraduate qualification (NQF 8) in any of the aforementioned fields;
• having completed short courses in data or data-related aspects; and/or
• experience in data or data-related aspects.

Additional requirements include:

• industry, organisational and business awareness, knowledge and skill;
• IT governance knowledge and skill;
• knowledge of banking products;
• knowledge of relevant regulations relating to banks and the financial services industry at large;
• knowledge of the risks faced by banks and the financial services industry at large;
• an understanding of, and experience in, data risk and/or RDARR audits and/or quality assurance as well as the key issues and risks facing financial institutions and related entities registered in South Africa, with a specific focus on data risk and RDARR;
• knowledge of, and experience in, the financial system, financial products and services, and risk models and systems;
• knowledge of, and experience in, the Basel frameworks at both a theoretical and a practical level; and
• knowledge of relevant data risk and RDARR management practices and standards.

The following job-related skills and attributes are required:

• thought leadership;
• analysis, effective time management, strong communication and problem-solving skills;
• financial and business acumen; 
• a decision-making ability with the ability to initiate action; 
• competence in IT;
• influencing, building and maintaining relationships; and
• own reliable transport (as the position requires travelling between the PA’s offices in Pretoria and the offices of regulated entities which are generally outside of Pretoria).