Current Jobs at South African Reserve Bank

Detailed description

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

• Lead technical exploration projects into innovative financial technologies (e.g. techsprints, proof of concepts) to understand the impact of and gap created by innovative developments on current policies and regulation. 
• Initiate, select and scope technical projects on emerging technologies of relevance to the Fintech Unit or SARB for deeper understanding and present proposals for approval
• Design and oversee the execution of project-related activities that explore the impact of technology developments on financial markets and central banks in line with the priorities of the Fintech Unit and SARB
• Lead practical explorative initiatives on innovative financial technology in support of policy development, including the identification of areas of improvement and compliance with international standards.
• Conduct research into global innovation projects to inform Fintech Unit’s approach to innovation and potential ways for the SARB to collaborate with other central banks on practical exploration to understand the policy and regulatory implications of new technologies.
• Lead projects and activities related to fintech and supervisory technology (suptech).
• Lead various forums (domestic and international) on new developments, research findings and insights from project-related activities. 
• Support the SARB’s continuous development of expert knowledge on innovative technologies related to the work of the Fintech Unit and SARB and actively share learnings to inform policy and regulatory positions on fintech 
• Actively engage with counterparts in industry and the central banking community in the region and participate in industry consultations as well as the drafting of discussion papers and standards.
• Lead the development and maintenance of policies and/or regulatory frameworks and incorporate inputs and comments from the industry and relevant regulatory authorities. 
• Develop and contribute towards reports on the activities and functions of the Fintech Unit and present them to various domestic and international stakeholders.
• Lead in providing input into material drafted by international standard-setting bodies such as the Bank for International Settlements (BIS), including the BIS Innovation centres, and Financial Stability Board (FSB).
• Actively build relationships and collaborate with applicable South African Reserve Bank (SARB) stakeholders and other regulators on matters relating to the functions and responsibilities of the Fintech Unit. 
• Lead with drafting content for fintech public awareness initiatives and respond to queries and surveys. 
• Oversee and thought-lead workshops and conferences to create awareness of fintech-related matters in the industry. 
• Guide fintech analysts on work pertaining to fintech.

Qualifications

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

• an Honours’ degree in Economics, Finance, Technology or Law; and
• 8–10 years’ experience in financial innovation, regulation, law or economics.

Additional requirements include:

• sound knowledge of economic and financial theories; 
• knowledge of the regulatory environment and understanding of public policy issues;
• sound knowledge of research methodologies;
• sound knowledge of financial technologies and their implications for the financial system
• proven facilitation and presentation skills;
• experience in leading and managing innovative technology projects;
• good conceptual and analytical skills and ability to apply creative and innovative thinking to solve complex problems
• excellent interpersonal as well as verbal and written communication skills; and
• proficient in the use of Microsoft Office products.

go to method of application »

Detailed description

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

• Participate in projects and activities related to fintech and supervisory technology (suptech).
• Gather, analyse and maintain statistical information to assess and report on emerging innovative trends and developments.
• Assist the Senior Analyst with the design and execution of project-related activities that explore the impact of technology developments on financial markets and central banks
• Assist Senior Analyst to assess the impact of and gap created by innovative developments on current policies and regulation. 
• Report on and make relevant recommendations to relevant stakeholders based on analyses conducted and findings from the projects into innovative financial technologies aligned to the Fintech Unit’s priorities.
• Present research findings and new fintech developments at various forums (domestic and international).
• Communicate to and engage with related external stakeholders, including fintech firms as identified from time to time.
• Provide guidance to industry, including start-ups, regarding regulations on fintech developments and innovation projects within the region and globally.
• Organise and manage workshops and conferences to create awareness of fintech-related matters. Including innovation projects, in the industry. 
• Actively build and manage stakeholder relationships to solicit input and insight into fintech-related issues from various authorities and the industry. 
• Conduct research into innovation initiatives and projects in the industry and the central banking community to inform the Fintech Unit and SARB’s approach to innovation projects.
• Conduct research to keep abreast and in support of policy as well as regulatory and risk reduction developments, including the identification of areas of improvement and compliance with international standards.
• Assist with the taking of minutes at working groups or steering committees as relevant to the Fintech Unit.
• Participate in industry consultations and the drafting of discussion papers and standards.
• Leverage the insights from the practical exploration of innovative financial technologies to assist with the development and maintenance of policies and/or regulatory frameworks and incorporate inputs and comments from the industry and relevant regulatory authorities. 
• Provide input into material drafted by international standard-setting bodies such as the Bank for International Settlements (BIS), including the BIS Innovation centres, and Financial Stability Board (FSB).
• Collaborate with the relevant regulators in matters relating to the functions and responsibilities of the Fintech Unit. 
• Assist with drafting content for fintech public awareness initiatives and respond to queries and surveys. 

Qualifications

To be considered for this position, candidates must have: 

• an Honours’ degree in Law, Economics, Technology or Finance; and 
• five to eight years’ experience in financial sector innovation, regulation, law or economics.

Additional requirements include: 

• sound knowledge of economic and financial theories; 
• knowledge of the regulatory environment and public policy issues;
• strong technical skills and a working understanding of information technology;
• sound knowledge of research methodologies;
• knowledge of financial technologies and their implications for the financial system
• proven facilitation and presentation skills;
• experience in projects to explore the policy implications of financial technology
• experience in project management and risk management;
• excellent interpersonal as well as verbal and written communication skills; and
• proficiency in the use of Microsoft Office products.

go to method of application »

Detailed description

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

• Work as part of a team on project, change, operational and business analysis activities to develop and maintain the regional system.
• Assist in providing training and capacity building on the regional system.
• Support the more senior analysts at the South African Reserve Bank (SARB) in implementing, monitoring and reporting on service level agreements with participants, regional clearing and settlement system operators, and other stakeholders. 
• Assist with the development and maintenance of business procedures and processes relating to the regional system.
• Engage with system participants, regional clearing and settlement system operators, and other stakeholders.
• Perform basic testing on the regional system according to a system test framework.
• Monitor compliance and identify associated risks that may lead to non-compliance.
• Provide analytical support in the form of data analysis and modelling.
• Provide relevant reports.
• Develop business processes and procedures.
• Define solution requirements and assess possible solutions.
• Stay abreast of any changes to relevant analytical tools and methodologies, and apply these in the course of own work. 
• Assist the more senior analysts in providing support to participants, regional clearing and settlement system operators, and other stakeholders in the regional system.
• Participate in business continuity planning (BCP) testing and execution for participants and the regional system.
• Develop and maintain BCP processes to protect the regional system against the potential loss of critical business functions.

Qualifications

Job requirements

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

• the minimum of an Honours degree (NQF 8) in Economics, Financial Management or Information Technology (IT), or an equivalent qualification; and 
• the minimum of 2–5 years’ experience in banking, the financial industry or the payment system environment.

Additional requirements include:

• payment system knowledge;
• real-time gross settlement (RTGS) system knowledge;
• analytical skills;
• knowledge of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment system messaging standards; 
• risk management knowledge;
• project management knowledge; and
• decision-making skills.

go to method of application »

Detailed description

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

• Provide support to participants as well as clearing and settlement operators through various mediums or communication channels.
• Log, monitor, escalate and resolve calls on the call logging system according to agreed service level standards.
• Compile operational and performance reports (internal and external) as well as customer support engagements reports.
• Analyse data and insights from systems to improve the effectiveness and efficiency of payment and settlement services.
• Monitor the system and its interlinked ancillary systems to ensure that all settlements take place within agreed standards, and escalate when necessary.
• Conduct system testing and monitor market testing according to a system test framework, and test the cases developed by the system tester.
• Participate in projects by executing assigned tasks arising from changes to regulations, business and technology.
• Contribute towards and review business and functional requirements, and test cases.
• Execute billing, reconcile financial accounts and ensure that costs are recovered.
• Assist with on-the-job training for staff members at the South African Reserve Bank (SARB). 
• Conduct participant training.
• Contribute towards the induction programme for new employees.
• Compile evidence or sample information for internal and external auditors, and contribute to the Principles for Financial Market Infrastructures (PFMI) assessments.
• Identify and report on the operational risks of the unit. 
• Prepare and execute resilience tests in line with business continuity management.
• Compile and update the operational and system manuals, procedures and processes.
• Execute the activities set out by the stakeholder management framework, at the appropriate level, to support operations.
• Coordinate and execute the onboarding and termination of participants (banks and non-banks) on the real-time gross settlement (RTGS) system. 
• Capture, verify and update master data changes on the RTGS system.
• Execute and/or monitor the internal and external operational system changes. 

Qualifications

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

• the minimum of a National Diploma (NQF 6) in Business Administration, Financial Management or Operations Management; and 
• the minimum of 2–5 years’ experience in financial services and/or banking services.

Additional requirements include:

• industry, organisational and business awareness, knowledge and skill;
• quality assurance knowledge and skill; 
• continuous improvement knowledge and skill; 
• continued learning and/or professional development knowledge and skill; 
• settlement systems knowledge; and
• national payment system knowledge.

go to method of application »

Detailed description

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

• Give strategic and leadership direction and provide technical assistance and guidance to a team of credit risk analysts responsible for conducting industry analysis, development and maintenance of regulatory returns, interpretation of regulation, review of applications and providing cross-departmental technical support.
• Manage team deliverables, contribute to the compilation of the operational plan for the team and take responsibility for the implementation as well as the monitoring of the team’s work plans. 
• Manage team performance and talent management, including the learning and development of team members and succession planning.
• Manage stakeholder engagements and relationships (internal and external), displaying the ability to solicit information as well as deliver a coherent and convincing message. 
• Stay abreast of developments (e.g. changes to policies, rules and regulations, legislation and systems), ensure application thereof and provide input to publications and surveys related to own area of expertise. 
• Identify and mitigate risks related to own function and ensure compliance with relevant governance frameworks. 
• Contribute to special projects in the Prudential Authority.

Qualifications

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

• a minimum of a postgraduate qualification in either Banking, Insurance, Commerce, Economics, Risk Management, Finance, Accounting or Auditing or an equivalent qualification;
• at least eight to ten years of relevant working experience in the financial services or financial regulatory sector; and
• at least two years’ proven experience in managing teams.

Additional requirements include:

knowledge of:

• the Basel framework at both a theoretical and practical level;
• the various legislation and related supervisory frameworks applicable to financial entities registered in South Africa;
• the relevant credit risk management practices and standards;
• and experience in, the financial system, financial products, risk models and systems;

an understanding of:

• the Basel Core Principles for Banking Supervision;
• the Insurance Core Principles for Insurance Supervision;
• key issues and risks facing registered financial entities in South Africa, with a specific focus on credit risk;
• thought leadership;
• problem-solving and analytical skills;
• the ability to lead change;
• an establishment focus;
• a drive for results;
• the ability to promote team work;
• the ability to develop and grow others; 
• a service and stakeholder focus;
• effective communication skills; and
• the ability to build and maintaining relationships.