Jobs Vacant at South African Reserve Bank

Detailed description

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

• Plan and perform tasks against work plans as defined with the team leader.
• Manage the vault to ensure a sufficient supply of banknotes to the cash industry.
• Capture and verify bulk deposits and withdrawals according to the laid-down procedures.
• Verify that the personnel from the cash industry collecting or depositing banknotes are authorised to do so.
• Mitigate risks by ensuring the adherence to controls, established practices, processes, rules and regulations.
• Provide information relating to cash transactions to the team leader for decision making.
• Review and authorise work pertaining to cash transactions to ensure the accuracy and completeness of information integrated with the National Cash Management System, including preparing the necessary documentation for the payment of charges.
• Act as a liaison and engage with external stakeholders for the timeous completion of cash transactions.
• Evaluate own performance against given criteria and identify and address any task-specific learning needs.

QUALIFICATIONS

To be considered for this position, candidates must be in possession of:

• a National Diploma in Business Management (NQF 6) with Accounting as a major subject or an equivalent qualification; and
• two to five years of work experience in a cash environment.

Additional requirements include:

• verbal and written communication skills; 
• planning and organising skills;
• judgement and decision-making skills;
• problem-solving skills;
• service and stakeholder focus; 
• attention to detail; 
• drive for results; and 
• resilience.

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Detailed description

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

• Participate in targeted on-site inspections at banks, mutual banks, life insurers, cooperative banks, banks’ subsidiaries in foreign jurisdictions and branches of foreign banks domiciled in South Africa, to test compliance with the provisions of the FIC Act with regard to anti-money laundering, counter-financing of terrorism and counter-proliferation financing (AML/CFT/CPF).
• Lead inspections targeted at banks and life insurers to assess compliance with the FIC Act and FATF standards, including travelling to banks’ subsidiaries in foreign jurisdictions.
• Manage AML/CFT inspection processes and present findings to the supervised institutions.
• Analyse and interpret data from banks and life insurers.
• Draft and review the documents, correspondence, presentations etc.
• Assist in PA projects,which enhance effectiveness and drive AML/CFT/CPF supervision efficiency.
• Attend meetings with respective stakeholders as and when required.
• Provide inputs into inspection reports and closing letters to the management of banks and life insurers.
• Undertake ad hoc projects pertaining AML/CFT/CPF work.

QUALIFICATIONS

To be considered for this position,candidates must be in possession of:

• a Post graduate degreein Law, Accounting, Auditing, or Finance  an equivalent qualification; and
• 5 to 8 years’ practical experience in AML/CFT/CPF compliance within the banking and/or life insurance industry.

Additional requirements include:

• knowledge of the provisions of the FIC Act, FIC Regulations and guidance products issued by the FIC and the PA;
• knowledge of international standardsrelating to AML/CFT/CPF (i.e. the FinancialAction Task Force 40 Recommendations and the Basel Core Principles and Guidelines);
• knowledgeof the Banks Act, the Regulations relatingto Banks and the Financial Sector Regulation Act;
• problem-solving and analytical skills;
• financial and business acumen;
• attention to detail; 

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Detailed description

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

• Leading and managing a team of quantitative analysts responsible for 
• assessing banks’ applications to calculate regulatory capital on advanced approaches such as the advanced internal rating-based (AIRB) approach;
• assessing material changes made to the risk measurement models used for regulatory capital calculation of banks already on the AIRB approach;
• assessing banks’ applications to calculate regulatory capital on advanced approaches such as the advanced internal rating-based (AIRB) approach;
• monitoring and analyzing risk measurement models throughout the industry, including the analysis of data and conducting of thematic reviews; and
• providing, as required, specialist training to risk support and frontline supervision staff members on risk measurement models used by banks.
• Providing technical assistance and guidance to a team of quantitative analysts.
• Managing team deliverables, including work plans, resource allocation, supervision of the team, understanding of processes and systems, as well as driving change and innovation.
• Managing deliverables of a team of quantitative analysts, thereby ensuring that model-based regulatory data reported by banks have integrity and validity.
• Managing team performance and talent management, including learning and development of team members and succession planning.
• Contribute to the team’s compliance with the South African Reserve Bank’s governance, risk management, and information management policies and procedures.
• Contribution to special projects in the Prudential Authority.

QUALIFICATIONS

To be considered for this position, candidates must have:

• A postgraduate degree (at least NQF level 8) in Mathematics, Statistics, Actuarial Science, or a related field.
• 8 - 10 year’s working experience in model validation and / or model development in the financial sector.
• Two years of experience in managing people.

Job related knowledge:

• Working knowledge of the various legislation and related supervisory frameworks applicable to financial entities registered in South Africa.
• Understanding of key issues and risks facing registered financial entities in South Africa.
• Knowledge of, and experience in, the financial system, financial products, risk models and systems. 
• Fully conversant with the Basel framework at both a theoretical and practical level. 
• Knowledge of relevant risk management practices and standards. 
• Expertise in regulatory models, and model validation methodologies.

Job related skills and attributes

• Thought leadership
• Problem solving and analysis
• Keeping abreast of emerging risks in the financial sector
• Financial and business acumen
• People management skills
• Influencing, building, and maintaining relationships

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Detailed description

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

• Analyse and interpret budget data and provide guidance in line with accounting principles on improving budgeting and spend.
• Report on expenditure trends (run rate), with comprehensive analyses of underlying causes of over or under expenditure.
• Provide financial expertise and knowledge to BSTD to ensure International Financial Reporting Standards (IFRS), in particular International Accounting Standard 38 (IAS38), are correctly applied to departmental financial transactions.
• Perform the accounting function in accordance with the South African Reserve Bank’s (SARB) standards, policies and cost accounting principles.
• Report and perform analyses on cloud costs and utilisation.
• Prepare monthly, quarterly and yearly financial reports on capital and operational expenditures for submission to BSTD’s Executive Committee and the SARB’s Financial Services Department.
• Engage with relevant internal and external stakeholders to promote a culture of cost accountability and visibility.
• Stay current with developments and proactively broaden knowledge of new financial accounting standards.
• Ensure accurate financial accounting of IT assets.
• Propose and implement the refinement and continuous improvement of systems, tools, controls, methods and processes in own functional area.

QUALIFICATIONS

Job requirements

To be considered for this position, candidates must be in possession of:

• a minimum of a Bachelor of Commerce (Accounting) degree (NQF 7); and
• a minimum of four years’ experience working as an Accountant.

Additional requirements include:

• conceptual thinking skills;
• effective communication skills;
• drive for results;
• ability to work in a team;
• service and stakeholder focus;
• judgement and decision-making skills;
• analytical and problem-solving skills;
• resilience;
• managing complexity and ambiguity;
• building and managing relationships;
• knowledge and skill in:
• industry, organisational and business awareness;
• quality assurance and monitoring controls;
• continuous learning and/or professional development;
• financial strategic planning;
• financial legislation and governance, risk and compliance;
• financial project management;
• financial forecasting and budgeting;
• financial cost and management accounting;
• financial analysis and reporting;
• financial reconciliation;
• information and technology asset management; and
• business continuity planning.