The primary objective of this position is to manage the delivery by a team of analysts, thereby contributing to the effective and efficient supervision of an allocated banking group.
The successful candidate will be responsible for the following key performance areas:
- Provide strategic direction to a team of analysts in terms of ongoing supervisory oversight of allocated financial entities, including the operational alignment of supervisory programmes and targets.
- Provide leadership within the Co-operative Banking Institutions Supervision division of the Prudential Authority (PA) and support the relevant divisional head in achieving the overall departmental objectives.
- Provide technical assistance and guidance to a team of analysts.
- Manage the team’s deliverables, including work plans, resource allocation and management, processes and systems, and change and innovation.
- Manage the team’s performance.
- Manage talent, including the learning and development of team members and succession planning.
- Contribute to the team’s compliance with the governance, risk management and information management policies and procedures relevant to the PA and the South African Reserve Bank (SARB).
- Contribute to special projects within the PA.
To be considered for this position, candidates must be in possession of:
- a postgraduate degree in Finance, Accounting, Banking or any other relevant qualification;
- eight years’ experience in the financial services or financial regulatory sector; and
- two years’ proven experience in managing a team.
The following would be an advantage:
- CA(SA) or AGA(SA) certification.
Additional requirements include:
- an understanding of the Basel Core Principles for Banking Supervision;
- a working knowledge of the various pieces of legislation and related supervisory frameworks applicable to financial institutions registered in South Africa and related entities;
- an understanding of the key issues and risks facing financial institutions registered in South Africa and related entities;
- knowledge and understanding of good corporate governance;
- knowledge of, and experience in, the financial system, financial products, and risk models and systems;
- fully conversant with the Basel framework at both a theoretical and practical level;
- knowledge of relevant risk management practices and standards;
- thought leadership;
- problem-solving and analytical skills;
- financial and business acumen;
- people management skills; and
- influencing, building and maintaining relationships.
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
The Constitution gives the SARB the mandate to protect the value of the rand. We use interest rates to keep inﬂation low and steady.
The SARB has a mandate to protect and enhance ﬁnancial stability. We identify and mitigate systemic risks that might disrupt the ﬁnancial system.
The Prudential Authority regulates ﬁnancial institutions and market infrastructures to promote and enhance their safety and soundness, and support ﬁnancial stability.
Open market operations are the main tool we use to implement monetary policy. We manage South Africa’s gold and foreign exchange reserves.
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.
The SARB provides important economic and ﬁnancial statistics that present an overview of the economic situation in South Africa.
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.