Job Description

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

• Assist in conducting research based on international best practice and practices in other jurisdictions that are similar to the South African market, to better inform the development of a robust regulatory framework for South Africa.

• Participate in industry engagement sessions as well as engagements with other financial sector regulators and internal stakeholders in developing regulatory frameworks for the PA.

• Provide input on policy development for the PA in areas related to prudentially regulated financial institutions and the relevant regulatory framework.

• Provide secretariat support for the governance structures within the PA.

• Assist senior team members in representing the PA in external forums on policy matters and legislation.

• Assist senior team members in coordinating the PA’s ‘house view’ on policy and legislation, in collaboration with the South African Reserve Bank (SARB) and other regulators.

• Contribute to and/or assist in drafting speeches and briefing notes for the PA Chief Executive Officer, the SARB Governor and Deputy Governors as well as any other PA staff member on specialist topics so that the PA and/or SARB view is represented locally and internationally.

• Develop and refine policy positions, regulatory frameworks and regulatory instruments in accordance with the FSR Act, working closely with senior team members and senior management in the broader PA.

Job requirements

To be considered for this position, candidates must have:

• a postgraduate qualification in either law, finance or economics, or an equivalent qualification in a related field;

• a minimum of five to seven years’ experience in conducting policy-related research, drafting regulatory instruments or formulating policy, and analytical skills in a relevant field; and

• an advantage would be practical experience in:

• the deposit-taking regulatory environment;

• financial conglomerates, financial technology, financial inclusion or the significant ownership regulatory environment; and/or

• conducting research and demonstrable drafting and analysis skills in the financial sector.

Job-related skills and attributes include:

• knowledge of the financial sector and an understanding of developments in recent financial sector reforms;

  • an understanding of prudential supervision, regulation and legislation impacting the PA;

  • an understanding of international regulatory standards impacting the SARB and PA;

  • competence in using Microsoft Office software packages;

  • the ability to be proactive and work independently;

  • excellent verbal and written communication skills; and

  • the ability to work well under pressure and pay attention to detail.

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.