Legal Consultant-PSISD at South African Reserve Bank

Brief description

The main purpose of this position is to analyse and make recommendations on the applications for the licensing, registration and other approvals required in terms of the relevant legislation to ensure compliance with legal and prudential governance frameworks.

Detailed description

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

• Conduct a legal assessment by analysing the applications in terms of the Financial Sector Regulation Act 9 of 2017 (FSR Act) and related sectoral laws and regulations by testing them against compliance with the legal requirements as prescribed by the relevant legislation.
• Engage applicants and frontline teams to provide information and legal guidance in respect of submissions for approval sought in terms of the FSR Act and related sectoral laws and regulations.
• Engage regulatory bodies for concurrence and related legislative requirements.
• Formulate, motivate and submit recommendations to relevant committees for consideration and decisions on the applications received.
• Engage with various stakeholders/external parties and/or participate in internal/external forums/industry meetings in order to execute the mandate of the regulator as per the legislation.
• Promote corporate governance as prescribed in the relevant legislation (e.g. Banks Act 94 of 1990, Insurance Act 18 of 2017 and Financial Markets Act 19 of 2012) in respect of the appointment of executive officers/key persons.
• Initiate, negotiate, draft and conclude memorandums of understanding with other regulators for information sharing and joint supervision purposes.
• Stay abreast of, and appropriately apply, any changes relevant to the legal field/regulatory environment.
• Participate in working groups and provide input into the development of appropriate legislative and regulatory frameworks that impact the financial sector.

QUALIFICATIONS

Job requirements

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

• a Bachelor’s degree in Law or an equivalent qualification; and
• a minimum of five to eight years’ experience within a legal environment, with exposure to the financial and regulatory fields.

Additional requirements include:

• knowledge of business protocol;
• innovative problem-solving skills;
• good communication skills;
• good interpersonal skills;
• good working knowledge of Microsoft Office and other related software packages; 
• knowledge of the FSR Act and related financial sector laws and their respective regulations;
• knowledge of the relevant legislation, regulations, legal principles, procedures, practices and tools; and 

knowledge and skill in:

• industry, business and organisational awareness;
• quality assurance;
• continuous improvement;
• continued learning/professional development; 
• research; and
• reporting.