Detailed description
The successful candidate will be responsible for the following key performance areas:
Benchmark administration, monitoring and analysis
Monitor and analyse the performance, representativeness and robustness of designated benchmarks and reference rates.
Contribute to the administration of SARB benchmarks and ensure the timely calculation and publication of designated benchmarks and reference rates.
Design, review, and maintain benchmark governance frameworks, including methodologies, controls, and accountability arrangements
Ensures that methodologies applied comply with local and international standards
Collaborate with other specialists across the SARB to implement technological infrastructure solutions for benchmarks and analytics.
Prepare analytical notes, charts, dashboards and briefing material for senior management and the Reference Rate Oversight Committee.
Financial market structure reforms
Contribute to working groups and committees focused on market structure reforms, including market transitions to alternative reference rates.
Coordinate with relevant regulators and industry bodies to facilitate market transitions.
Prepare SARB position papers, presentations, speeches and industry papers on issues related to market structure and functioning.
Market functioning – research, analyses and innovation
Monitor and assess the functioning of money, bond, foreign exchange markets and related derivatives.
Analyse liquidity conditions, pricing anomalies, market fragmentation and transmission of monetary policy.
Identify market frictions, stress signals and structural changes affecting market efficiency.
Work with large financial datasets to develop indicators of market conditions, market stress, and market dysfunction.
Support automation, data visualisation and analytics initiatives to improve market monitoring and operational efficiency.
Engage market participants, infrastructure providers, industry bodies and other relevant stakeholders to gather market intelligence
Contribute to the learning and development of junior specialists.
Quality assures and integrates analysis and reports submitted by other Financial Market Specialists
Assist with committee administration.
Leads initiatives in support of department’s objectives and perform ad hoc tasks.
Job requirements
To be considered for this position, candidates must be in possession of:
an Honours degree (NQF8) in Economics, Finance, Statistics, Data Science or an equivalent combination of education and job-related experience; and
at least 8 to 10 years’ work experience in financial markets.
The following will be an added advantage:
knowledge of financial markets products and the pricing thereof;
knowledge of quantitative finance;
proficient in Microsoft Office, R and/or Python; and
proficient in data analysis.
Additional requirements include:
being a team player.
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.
The South African Reserve Bank (the SARB) is the central bank of the Republic of South Africa. It regards its primary goal in the South African economic system as "the achievement and maintenance of price stability".
The South African Reserve Bank maintains that South Africa has a growing economy based on the principles of a market system, private and social initiative, effective competition and social fairness. It recognises, in the performance of its duties, the need to pursue balanced economic development and growth.
