Job Description

Detailed description

The successful candidate will report to a Deputy Governor and be responsible for the overall management and strategic direction of the Currency Cluster of the SARB. The key performance areas include the following:

• Oversee the strategic and operational effectiveness of the Currency Cluster, which entails planning and distributing currency within South Africa, protecting the SARB’s staff and assets, and integrating key value-chain activities to ensure strategic alignment across the operations of the SARB Group entities regarding currency and security management.

• Direct the corporate initiatives linked to the cluster’s strategies and communicate their implications to the cluster’s heads of department and managing directors for implementation.

• Review and coordinate annual operational plans, risk matrices and budgets for the financial year, including staffing and structural changes in the departments and subsidiaries within the cluster.

• Facilitate the development and implementation of integrated policies and procedures to drive the execution of the organisational strategy and ensure the operational effectiveness of the cluster.

• Review financial statements, activity reports and performance data to measure the achievement of goals and enhance operational effectiveness and efficiencies.

• Report on the progress status of the cluster to the GEC on a regular basis and seek endorsement or approval for the implementation and resourcing of programmes within the cluster.

• Lead the negotiation of major contracts and agreements with suppliers and service providers in line with the SARB’s procurement and budget policies as well as its delegation of authority.

• Provide assurance to the GEC on the cluster’s impact on the cash industry and SARB Group entities, including the financial and organisational implications thereof.

• Ensure that all risks associated with the cluster’s activities are identified, assessed and appropriately mitigated.

• Manage performance, build commitment of direct reports, and ensure that the cluster has the skills and talent to support long-term sustainability and organisational performance.

• Build the SARB’s capacity to produce profitability for other countries.

• Ensure that the SARB’s currency-producing subsidiaries operate at globally competitive levels.

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

• a minimum of a postgraduate qualification (NQF 8, 9 or 10) in Business Management, Finance or Economics, or an equivalent combination of education and job-related experience; and

• a minimum of 13–15 years of experience at an executive level, with at least 5 years in a senior or strategic management role.

Additional requirements include:

• executive management disposition;

• skills and experience in strategy development and implementation, corporate governance, risk management and compliance, financial management and quality management;

• knowledge of human resources policies and procedures;

• knowledge of relevant legislation;

• strong leadership qualities, with the ability to work well under pressure and resolve conflict effectively;

• problem-solving and analytical skills;

• strategic decision-making abilities and the ability to drive execution;

• innovation and solution-driven approach;

• excellent verbal and written communication skills in English, with the ability to communicate and interact professionally at all levels, both internally and externally;

• excellent interpersonal skills, with the ability to build cross-departmental relationships;

• demonstrated experience in persuading and influencing stakeholders appropriately; and

an understanding of the workings of the SARB and proven operational effectiveness.

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.