Macroprudential Specialist – Stress Testing at South African Reserve Bank

The main purpose of this position is to contribute towards the development and implementation of stress-testing frameworks to promote robustness and stability in the financial system. This includes advising policymakers on the soundness of the financial institutions and market infrastructures under stress scenarios.

Detailed Description        

The successful candidate will be responsible for, among other things, the following key performance areas:

•     Develop and implement top-down and bottom-up stress-testing frameworks (methodologies, processes, models, etc.).
•     Conduct and report on stress-testing exercises in the financial system in order to provide advice to policymakers.  
•     Analyse and reconcile new data with historical trends and other relevant data and sources.
•     Conduct research to inform the assumptions and relationships that underpin economic and other models.
•     Continually develop models, run short-term simulation exercises, and analyse and explain model results.
•     Compile thorough, comprehensive and descriptive reports.
•     Demonstrate an understanding and application of all methodological standards, techniques and protocols that apply to own work.
•     Prepare briefings and presentations on stress-test results, research findings and economic analysis, and present to internal and external stakeholders.
•     Support the skills development of junior specialists by providing guidance on the subject matter in own scope of work.

Job Requirements        
To be considered for this position, candidates must have:

•     an Honours degree in Economics, Finance, Statistics or an equivalent qualification; and
•     at least five years’ job-related experience with a strong background in Economics or Econometrics.

The following would be an advantage:

•     a Master’s degree in Economics or a related field; and
•     a background in either stress testing or macroeconomic/microeconomic modelling.

Additional requirements include:

•     sound knowledge of economic and financial theories as well as macroprudential policies;
•     an understanding of stress testing of the banking/insurance sectors or a similar environment;
•     knowledge of the insurance and banking regulatory frameworks and international standards;
•     experience with macroeconomic and/or microeconomic modelling;
•     proven facilitation and presentation skills;
•     excellent interpersonal, verbal and written communication skills; and
•     proficiency in the use of financial/economic modelling packages and Microsoft Office products.