Head of Department – National Payment System Department at South African Reserve Bank

Job title: Head of Department – National Payment System Department

Location: Head Office, Pretoria

Department: National Payment System Department

Brief description

The purpose of this position is to provide leadership and strategic direction for the National Payment System Department (NPSD) of the South African Reserve Bank (SARB), and the broad payment industry initiatives to ensure the overall effectiveness and integrity of the national payment system (NPS).

Detailed description

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

• Provide leadership and strategic direction to the broader NPS industry and the NPSD to facilitate the development of the NPS.
• Provide an interbank settlement service for all domestic and rand-denominated foreign exchange transactions.
• Provide an interbank settlement service for regional transactions settled on the regional payment settlement platform.
• Oversee the NPS to ensure its development in line with changes in the financial system and the environment.
• Regulate and supervise payment service providers, including administering NPS regulation (i.e., the NPS Act 78 of 1998 and directives) to manage risks in the payment system, and prevent payment settlement failures and possible systemic risk.
• Participate in regional payment system initiatives, and provide leadership and strategic guidance to the Southern African Development Community (SADC) payment system initiatives.
• Facilitate relevant research to keep abreast of developments and best practices to ensure alignment with international payment system practices that foster compliance with international standards.
• Participate in international payment system standards, setting bodies and forums to provide South African and developing economies' input into global guidelines and standards.
• Participate in international and regional payment system oversight structures to ensure alignment of initiatives to domestic policy objectives.
• Facilitate capacity building and information dissemination initiatives, including relevant publications on NPS matters to ensure public awareness and promote fair access to, and wider usage of, the NPS.
• Provide strategic direction and develop plans, management practices and controls for the NPSD.
• Direct the preparation of budgets, and coordinate spending based on the NPSD strategic and operational plans.
• Direct human resource activities, including the approval of human resource plans, hiring and developing staff, overseeing performance management systems, and determining divisional structures.
• Manage the performance and development of direct reports, create a performance culture in the department, and promote and support career management and development.
• Guide and participate in the development of payment systems on the continent and the region, with specific reference to SADC.

Job requirements

• To be considered for this position, candidates must have:
• an Honours degree in Banking, Finance or Information Technology; and
• at least 12 years’ experience in the banking or financial systems and payments environment, including a good exposure to information technology systems, of which at least six years of the experience should be at senior general management level.

The following would be an added advantage:

• a Master of Business Administration (MBA) or a Master of Business Leadership (MBL) qualification.

Additional requirements include:

• knowledge of payment and settlement systems;
• banking knowledge (central and commercial);
• exposure to risk management practices;
• background in relevant legislation;
• adequate understanding of financial markets;
• project management experience;
• knowledge and experience in information technology systems;
• computer literacy;
• verbal and written communication skills;
• high-level problem-solving and analytical skills;
• managerial experience;
• presentation skills, including public speaking;
• facilitation skills;
• negotiation skills;
• strategic thinking;
• exposure to research methodologies; and
• knowledge of human resource management.

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.