Lead Macroprudential Specialist - FinStab at South African Reserve Bank

Brief description

• The main purpose of this position is to lead the development and implementation of stress testing and systemic risk monitoring frameworks aimed at promoting stability within the financial system. This involves conducting quantitative and qualitative analyses to identify potential systemic risks and providing guidance to policymakers on the resilience of financial institutions under various scenarios.

Detailed description

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

• Lead the development and implementation of top-down and bottom-up stress-testing frameworks, including methodologies, processes and models.
• Lead the execution of stress-testing exercises and effective communication of results to policymakers. 
• Research and present findings to senior management and the Financial Stability Committee to clarify the assumptions and relationships underlying the relevant models.
• Continually monitor the financial system for vulnerabilities, with an emphasis on early detection and detailed reporting of potential systemic risks.
• Build economic models to test the resilience of financial institutions. 
• Demonstrate an understanding and application of all methodological standards, techniques and protocols relevant to the work. 
• Prepare briefings and presentations on stress-test results, research findings and economic analyses and present these to internal and external stakeholders.
• Support the skills development of junior specialists by providing guidance on the subject matter in your scope of work.
• Independently deliver work and determine deliverables from a range of prescheduled and ad hoc responsibilities.
• Oversee focused project teams and ensure successful completion of their deliverables.
• Stay abreast of, and contribute towards, the development of national and international macroprudential standards, classifications and frameworks for the publication of financial stability reports.                   

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

• a Master’s degree in Economics, Econometrics, Mathematics, Statistics, Actuarial Science or an equivalent qualification;
• 10−12 years’ job-related experience with a strong background in macroeconomics, financial stability or stress testing, as well as strong quantitative data analysis and econometric analysis abilities; and
• experience in relevant programming languages, such as Python, Matlab and ‘R’ will be an added advantage.

Additional requirements include:

• excellent interpersonal, verbal and written communication skills;
• sound knowledge of economic and financial theories as well as macroprudential policies;
• an understanding of stress testing of the banking/insurance sectors or similar environment;
• knowledge of banking and insurance regulatory frameworks and international standards;
• experience with macroeconomic and/or microeconomic modelling;
• experience in project management and risk management;
• proven facilitation and presentation skills; and
• high degree of proficiency in the use of Microsoft (MS) Office products such as MS Word, Excel and PowerPoint.

Deadline:29th January,2026