Current Openings at South African Reserve Bank

Job Description
Brief description

• The purpose of this role is to ensure the effective management of foreign exchange through monitoring the compliance with the Exchange Control Regulations and the Currency and Exchanges Manual for Authorised Dealers including overseeing the collection, analysis and monitoring of cross-border information to ensure compliance with the relevant regulatory frameworks including the Exchange Control Regulations, the Currency and Exchanges Manuals for Authorised Dealers and Authorised Dealers with Limited Authority and FinSurv Reporting System Operations Manual & Technical Specification Document. 

Detailed description

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

• Give strategic and leadership direction to the division. 
• Fulfil the line management function pertaining to the development and performance of the team.
• Contribute to the compilation of divisional operational plans and take responsibility for the implementation as well as the monitoring thereof.
• Manage quality, facilitate delivery of the unit-specific outputs, clarify roles and responsibilities, and optimise and manage unit resources. 
• Take responsibility for the planning of work and improvement of workflow for the division.
• Make suggestions for refining South African Reserve Bank (SARB) policies, processes and systems.  Provide input to stakeholders such as National Treasury and the South African Revenue Service (SARS) in terms of policy enhancement and formulation. 
• Manage the processing and authorisation of applications as well as act as the signing authority within prescribed parameters.
• Manage the risk-based inspection process from end to end to ensure for adequate preparation, the completion of related administration, team leadership during inspections and effective reporting.
• Design and manage the maintenance of a management information system for consistent and accurate reporting of relevant information to senior management. 
• Facilitate collaboration with other divisions, including external stakeholders and functions impacting work. 
• Serve on various committees and ad hoc working groups as and when required. 
• Perform ad hoc duties and participate in special projects as and when required. 
• Lead stakeholder engagements (internal and external), displaying the ability to solicit information as well as delivering a coherent and convincing message. 
• Identify and mitigate risks related to own function and ensure compliance with the relevant governance frameworks.
• Stay current with markets developments (e.g. changes to exchange control policies, rules and regulations, new products).

Qualifications
Job requirements

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

• an Honours degree in Economics, Accounting, Informatics, Statistics, Finance or Banking or an equivalent (NQF 8) qualification; 
• a minimum of 8–10 years’ job-related experience in either exchange control, banking, financial markets or a relevant regulatory environment; and 
• at least two years’ experience in managing teams. 

Additional requirements include:

Knowledge Requires

• application of exchange control regulations and the Currency and Exchanges Manuals for Authorised Dealers and Authorised Dealers with Limited Authority; 
• the financial surveillance reporting rules and systems;
• the regulatory environment and keeping abreast with markets developments and new products;
• experience relating to inspections; and
• risk management and compliance practices and standards. 

Behavioural Competencies

• Leading and managing change 
• Promoting team work 
• Developing and growing others 
• Effective communication 
• Building and maintaining relationships 
• Service and stakeholder focus
• Planning and organizing
• Problem solving and analysis 
• Driving results 
• Established focus
• Impact and influence.

go to method of application »

Job Description
Brief description

• To plan, direct and manage a team responsible to process, monitor and report on requests by institutional investors and Authorised Dealers to ensure compliance in terms of the requirements of the Currency and Exchanges Manual for Authorised Dealers, Exchange Control Regulations, policies and procedures.

Detailed description

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

• Ensure compliance and reporting of cross-border transactions in order to prevent the abuse of the financial system and support regulation of financial institutions.
• Enhance risk based supervisory practices by embedding a data -driven decision making culture.
• Compile, implement and monitor the operational and performance plans of the section/division in line with the strategic focus areas of the Department.
• Manage the delivery of the team’s output, including but not limited to the provision of management information; internal audits; governance, risk and compliance management; and general administration.
• Manage project plans, resource allocation, budget and stakeholder relations.
• Establish, develop, embed and enhance processes and systems to reduce inefficiencies in the monitoring of the entities supervised by the section 
• Embrace and leverage analytical tools to automate processes.
• Provide input to stakeholders (e.g. National Treasury) in terms of policy formulation and enhancements to the regulatory framework and contribute to special projects or committees within the Department.
• Liaise and collaborate with other relevant departments within the South African Reserve Bank, regulated entities and other regulatory authorities.
• Ensure compliance with applicable legislation, Bank policies, standards and laid down procedures, including control procedures aimed at mitigating risks.
• Embed the SARB culture and manage change and innovation.
• Plan, direct and manage the performance and talent management of the team.

Qualifications

Job requirements

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

• A minimum of Postgraduate qualification in Banking, Finance, Statistics, Business Science OR equivalent at NQF8;
• 8-10 years’ experience in the financial/banking services or regulatory sector; and
• 3 - 5 years’ proven experience of managing a team.
• Job related knowledge and skills competency requirements:
• Currency and Exchanges Manual for Authorised Dealers, Exchange Control Regulations.
• An understanding of the key regulatory requirements facing financial institutions and related entities.
• Knowledge and experience within the financial system of South Africa.
• People management.
• Attention to detail.
• Power BI.
• Data Governance process (data profiling, data cleansing, data remediation).
• Data visualisation.
• Data integrity.

Behavioural competencies:

• Leading change.
• Problem-solving and analytical skills.
• Financial and business acumen.
• Confidentiality.
• Managing complexity and ambiguity.
• Driving results.
• Developing and growing others.
• Strategic and conceptual thinking.
• Service and stakeholder focus.