Divisional Head – Enforcement and Resolution Unit at South African Reserve Bank

Brief description

The purpose of this position is to lead the Enforcement and Resolution Division in its mandate to support the frontline supervisors of the Prudential Authority in implementing enforcement actions against registered and unregistered entities under the relevant legislation, including the resolution of non-systemically important failed supervised institutions.

Detailed description

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

• Contribute to the development of the departmental strategy as well as take responsibility thereof and redirect work to high priority implementation of the division’s operational plan.
• Plan and prioritise work to achieve divisional objectives and manage resource-use to increase efficiency or status as required.
• Work closely with the Head of Policy, Statistics and Industry Support to develop and implement the framework for consistent enforcement of regulations across the industry and to develop a resolution framework of non-systemically significant financial institutions regulated by the Prudential Authority (PA).
• Lead and drive the delivery of work in the division relating to the implementation of administrative sanctions to banks and insurance companies in terms of the financial sector laws and other applicable legislation, referred by frontline supervisors of the PA.
• Oversee investigations of possible transgressions by institutions in terms of relevant financial sector laws.
• Lead and direct engagements with relevant internal and external stakeholders.
• Establish and maintain strategic direction and focus within the division ensuring alignment with the SARB’s mandate and compliance with relevant frameworks and legislation.
• Direct and coordinate the division’s budget, governance, control and risk management activities in order to maximise efficiency and effectiveness.
• Manage the performance and development of direct reports, create a performance culture in the division, and promote and support career management and development.
• Monitor, evaluate and report on the divisional performance outputs and achievement.

Job requirements

To be considered for this position, candidates must have:       

• a post graduate degree in Law, Economics, Finance or Accounting, or an equivalent qualification;
• a minimum of 10–12 years’ experience in Prudential Regulation or in a similar environment, with at least five years in a senior management position.

Additional requirements include:

• knowledge of the financial sector and key developments in banking, insurance and collective investment schemes, both domestically and abroad;
• experience in prudential supervision, regulation and legislation;
• experience in applicable regulatory framework;
• people management skills;
• thought leadership;
• planning and organising skills;
• advanced verbal and written communication skills;
• problem solving and analytical skills
• excellent negotiation skills; and
• ability to work under pressure.