Job Vacancies at South African Reserve Bank

• The main purpose of this position is to oversee and manage projects, and to manage relationships with relevant stakeholders as well as the provision of the domestic settlement system in the National Payment System Department at the South African Reserve Bank (SARB).

Detailed Description

• The successful candidate will be responsible for the following key performance areas:
• Manage and co-ordinate project, change, operational and business analysis activities ( e.g. identify deliverables, determine the scope of work and identify tasks) in order to develop and maintain the South African Multiple Option Settlement (SAMOS) system which is the domestic settlement system.
• Develop service level agreements with SAMOS participants and payment system operators.
• Ensure compliance with the service level agreements by the SAMOS system operator, the SAMOS participants and payment system operators.
• Approve the business processes and procedures relating to the domestic settlement system.
• Assist with, co-ordinate and provide training and capacity-building initiatives to internal and external stakeholders.
• Manage the business relationships with SAMOS participants, payment system operators and internal stakeholders, and ensure that the necessary support is provided.
• Manage the testing of the domestic settlement system to ensure compliance with business and operational requirements.
• Develop and implement a cost recovery framework for the domestic settlement system.
• Support risk management (including cyber and operational risk) and compliance for the domestic settlement system.
• Develop and prepare an operational report on the domestic settlement system on a monthly basis and when required.
• Conduct research to ensure alignment with international best practice.
• Coach and mentor junior staff members to ensure development and growth.
• Evaluate own performance against given criteria, and identify and address task-specific learning needs.
• Plan, organise, control, manage and evaluate the work of team members.

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

• at least an Honours degree (NQF 8) in Financial Management or Information Technology (IT), or an equivalent qualification; and
• at least 8–10 years of experience in the banking, financial services or payment system environment.
• Additional requirements include:
• knowledge of real-time gross settlement (RTGS) systems;
• knowledge of the SWIFT payment system messaging standards;
• strong experience in risk management;
• knowledge of the national payment system;
• project management experience;
• analytical skills;
• decision-making skills;
• proven problem-solving skills;
• computer literacy;
• knowledge of research methodologies; and
• strong verbal and written communication skills.

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• The main purpose of this role is to conduct financial sector prudential policy-related research and analysis to monitor and influence the policy positions of international financial sector standard-setting bodies as well as local policy matters set by National Treasury and the legislator. Deliverables will include guiding and engaging with National Treasury, the South African Reserve Bank (SARB), financial sector regulators, the industry and other stakeholders on supporting the South African stance on policy matters.

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

• Implement the SARB’s micro-prudential regulation and supervision strategic objective.
• Analyse relevance/appropriateness of developments in international standards as it impacts on the mandate of the Prudential Authority (PA).
• Develop and/or refine policy position tools and regulatory frameworks on banking, insurance, financial market infrastructures, financial inclusion and all other frameworks within the mandate of the PA.
• Administer and implement prudential policy and prudential policy tools.
• Design and implement cooperation and collaboration mechanisms with the SARB for the purposes of financial stability.
• Analyse domestic and global regulation and the impact of these in the fields of financial technology (fintech), banking, insurance and financial market infrastructures.
• Monitor global prudential policy implementation frameworks and the impact of these on local regulatory frameworks.
• Draft regulatory frameworks and instruments.
• Represent South Africa and influence international standard-setting bodies.
• Assist senior team members in representing the PA in Parliament and other forums on policy matters and legislation.
• Adopt and adapt international standards to South African requirements to be fit for purpose for the Republic, yet compliant with international criteria.
• Be a custodian of the PA Policy Panel and related governance processes, ultimately the Prudential Committee of the PA, including secretariat functions.
• Coordinate and complete international surveys.
• Provide input to the regulatory strategy for the PA to fulfil its functions and objectives as stipulated in the Financial Sector Regulation Act 9 of 2017 ( FSR Act).
• Draft and assist with maintaining memorandums of understanding with other financial sector regulators such as the Financial Sector Conduct Authority, National Credit Regulator, Financial Intelligence Centre as well as the SARB.
• Brief Divisional Heads, Heads of Department, the Chief Executive Officer (CEO), Governor and Deputy Governors on policy positions on specialised topics related to fintech.
• Represent the PA at various public forums ( e.g. at training, lecturing, presentations at conferences, and so forth).
• Coordinate the PA’s ‘house view’ in collaboration with the SARB and other regulators.
• Conduct and coordinate ad hoc research on prudential-related topics.
• Draft speeches for the Heads of Department, CEO, Governor and Deputy Governors on specialist topics.
• Prepare briefings on specialist topics for the CEO, Governor and Deputy Governors as well as Heads of Department to represent the PA/SARB view locally and internationally.
• Assist with the implementation of all future micro-prudential matters within the mandate of the PA.

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

• a degree in Accounting, Banking or Economics, Finance, Insurance and Law (post-graduate degree is advantageous); and
• at least five years’ relevant experience in the financial sector.

Additional requirements include:

having knowledge of and skills in:

• the financial sector;
• corporate governance and risk management practices and standards;
• international principles on fintech;
• insurance core principles, solvency II or solvency assessment and management;
• banking core principles, Basel III;
• problem-solving and analysis;
• planning and organising;
• verbal and written communication; and
• financial and business acumen;
• being a self-starter and a strong team player;
• paying keen attention to detail; and
• being uncompromising in maintaining confidentiality.