The successful candidate will be responsible for the following key performance areas:
Conduct research in support of policy development, including the identification of areas of improvement and compliance with international standards.
Participate in industry consultation and draft reports, discussion papers and legislation.
Draft proposals for deposit insurance coverage.
Assist with the design of policy processes to contribute to information technology requirements.
Support the testing of deposit insurance systems and the review of deposit insurance submissions from banks.
Assist with the development of a methodology to assess the adequacy of the level and structure of funding of the deposit insurance scheme.
Support the development of a framework for the establishment and selection of appropriate payout mechanisms for different kinds of banks.
Prepare for, and support the execution of, payout in the event of a bank failure.
Draft and support the finalising of reports on the activities and functions of CODI.
Liaise with the Operations Division on determining the operational impact of policy proposals.
Liaise with the Resolution and Crisis Preparedness Division within the Financial Stability Department, the Prudential Authority, Financial Sector Conduct Authority and the National Treasury on matters relating to the functions and responsibilities of CODI.
Ensure compliance with the legislative and regulatory requirements of the South African Reserve Bank (SARB) and CODI.
Assist with the content for public awareness initiatives and respond to queries and surveys.
To be considered for this position, candidates must be in possession of:
a Postgraduate (NQF 8) qualification in Banking, Economics, Accounting, Finance or Law; and
five to eight years’ experience in the banking, banking supervision or payment systems environment.
Additional requirements include:
an understanding of the banking sector or similar environment;
knowledge of regulatory frameworks and international standards;
facilitation and presentation skills;
strong interpersonal, verbal and written communication skills; and
proficient in the use of Microsoft (MS) Office products such as MS Word, Excel and PowerPoint.
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.
