Job Description

Brief description

The main purpose of this position is to contribute to the development and execution of resolution strategies for banks and non-bank systemically important financial institutions that fall within the scope of the resolution framework set out in the Financial Sector Regulation Act 9 of 2017. The responsibility includes participating in the design and implementation of crisis management strategies, policies and processes in the interest of financial stability, in accordance with international standards.

Detailed description

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

• Develop and/or assist with the development of policy, standards and guidance on South Africa’s resolution framework.
• Keep abreast of international standards and best practices in the resolution of financial institutions.
• Contribute to the development of resolution plans and resolvability assessments.
• Contribute to and participate in ad hoc testing of crisis management capacity in the South African Reserve Bank (SARB) and in the financial sector and formulate recommendations on meeting crisis preparedness and resolution planning standards.
• Assist with and contribute to the development and refinement methodologies to measure the systemic significance of financial institutions.
• Conduct research in support of policy developments for the Financial Stability Department and any of the internal and external committees that it serves, including international committees.
• Produce reports, with input from relevant internal and external stakeholders, on industry-wide crisis management and resolution issues.
• Participate in and contribute to the activities of the Resolution Policy Panel and its substructures and assist with secretariat functions for these committees.
• Prepare for and/or participate in meetings with international organisations and committees relating to crisis management and resolution and respond to requests for information by such organisations and committees.
• Mentor other specialists.
• Provide training to stakeholders on crisis management and resolution planning.

Job requirements

To be considered for this position, candidates must have:

• an Honours degree in Finance, Investment, Law, Economics, Accounting or Financial Risk Management; and
• eight years’ experience in banking, structured finance, valuations, financial markets, central banking or corporate insolvency.

Additional requirements include:

• ability to work effectively in a small and specialised team;
• ability to work in an unstructured environment that requires flexibility and adaptability;
• ability to contribute to and design new policies and processes;
• ability to build networks;
• ability to enhance the general understanding of, and support for, the activities and responsibilities of the Resolution Planning Division.
• sound knowledge of resolution tools and frameworks and applicable international standards;
• sound knowledge of relevant regulatory frameworks and international standards;
• proven facilitation and presentation skills;
• excellent interpersonal skills;
• excellent communication skills (verbal and written); and
• proficiency in the use of Microsoft (MS) Office products such as MS Word, Excel and PowerPoint.

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.

Human Resources Department

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.