Job Description

Brief description

The purpose of this position is to realise the responsibilities of the Risk Support Department of the Prudential Authority (PA) in respect of the supervision and regulation of credit risk in banks, insurers and market infrastructures (collectively referred to as regulated financial institutions). This includes being involved in operational duties associated with on- and off-site analysis as well as being part of a team of risk specialists who are responsible for providing specialist knowledge, skills and experience in the credit risk management area.

Detailed Description

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

• Conduct research and provide input into the regulatory frameworks of the regulated financial institutions (e.g., the Banks Act 94 of 1990, Insurance Act 18 of 2017, Regulations relating to Banks, Prudential and Joint Standards, circulars, directives, guidance notes, etc.) to stay abreast of international best practices and developments surrounding credit risk.
• Ensure widespread knowledge and understanding throughout the PA of the concepts and developments in the field of credit risk.
• Analyze and interpret risk-based regulatory data submissions’ trends and patterns in large data sets.
• Generate insights through visual analytics, dashboards and/or reporting.
• Assist in the creation of forecasting and predictive analytics models.
• Ensure regulated financial institutions’ compliance with regulatory requirements applicable to credit risk.
• Review and evaluate the strategies, policies, procedures and practices related to the granting of credit and the ongoing management of the portfolios of regulated financial institutions.
• Contribute to risk-based meetings with regulated financial institutions and their auditors.
• Participate in the internal capital adequacy assessments (ICAAP) of banks and the own risk and solvency assessments (ORSA) of insurers.
• Assist other teams with other functions, as may be required from time to time, in line with the PA strategic and operational objectives.

Job Requirements

To be considered for this position, candidates must have:

• a relevant postgraduate qualification (NQF 8) in Accounting, Financial Management, Risk Management, Banking, Computer Science, Dara Science, or another relevant quantitatively focused degree; and
• two to five years’ relevant working experience in the financial, banking, insurance, financial regulatory sector or in risk management.

Additional requirements include:

• knowledge of the risks facing regulated financial institutions;
• knowledge of financial products;
• good working knowledge of Microsoft Office software packages (i.e. Word, Excel and PowerPoint) and other related software packages;
• working knowledge of data platforms, programming languages and tools (e.g., Azure data services, Fabrick, SQL, Python and related ETL and BI tooling);
• innovative analytical/problem-solving skills;
• critical thinking and creativity;
• strong verbal and written communication skills;
• ability to work in a team and contribute to team success;
• decision-making abilities with the ability to initiate action;
• effective time management skills; and
• Reliable transport as the position requires regular travel between the PA’s offices in Pretoria and the offices of supervised institutions, which are generally outside Pretoria.

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 competence and experience.

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.