Fresh Opportunities at South African Reserve Bank

JOB DESCRIPTION

The purpose of this position is to provide strategic leadership and direction to the Reserves Management function to ensure the effective management of the official gold and foreign exchange reserves.

Detailed description

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

• Ensure the effective management of the official gold and foreign exchange reserves in line with global best practice.
• Lead and direct engagements with relevant internal and external stakeholders related to Reserves Management.
• Lead and project manage the sourcing, evaluation, shortlisting, selection and on-boarding of External Fund Managers in collaboration with various internal stakeholders and governance processes.  
• Ensure continuous improvement of the delivery and functioning of the Reserves Management function of the Financial Markets Department.
• Identify and mitigate risks related to Reserves Management and ensure compliance with the relevant governance frameworks.
• Monitor, evaluate and report on the Reserves Management outputs and achievements to relevant stakeholders within the SARB.
• Manage the performance and development of direct reports, create a performance culture in reserves management, and promote and support career management and development.
• Communicate and clarify, the vision and strategic goals of the South African Reserve Bank (SARB) and the Financial Markets department to the reserves management team.
• Contribute and provide input to the strategic focus areas of the department and SARB.
• Develop appropriate policies, procedures and systems requirements for approval, setting operational guidelines within which team members work and ensure alignment with related functions and the organisational value chain. 

Job requirements

To be considered for this position, candidates must have:

• a minimum of a Master’s degree in Economics / Investment Management or equivalent. 
• minimum of 10-12 years within a reserves management or asset management environment with a solid track record of managing teams at a senior management level; and
• a CFA and FRM qualification would be an added advantage.   

Additional requirements include:

• knowledge of global macro- economics;
• knowledge of global financial markets;
• knowledge of industry-related technology;
• knowledge and experience in portfolio management; 
• knowledge of trading platforms and risk-management systems;
• project management experience;
• planning and organizing;
• excellent verbal and writtencommunication skills;
• driving results;
• developing and growing others;
• developing and managing relationships;
• leading change;
• impact and influence; 
• strategic thinking;
• managing complexity and ambiguity; and
• judgement and decision making

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Brief description

The purpose of this position is to provide managerial leadership to the Corporate Functions Division; plan, organise and oversee audit projects for the South African Reserve Bank Group (SARB Group); and evaluate and appraise governance, risk, the adequacy and effectiveness of control systems and the quality of performance.

Detailed description

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

• Co- develop strategic and audit functional plans aligned to the SARB Group and the departmental strategy, communicate and clarify the vision and strategic goals of the SARB Group and the Internal Audit Department (IAD), and clarify performance expectations for the division.
• Plan, organized oversee the implementation of strategic projects in line with the strategic plan.
• Plan, organise and oversee the execution of audit projects (i.e. assurance, ad hoc or consulting) in line with the annual audit plan.
• Keep up to date with developments in the internal audit profession and conduct research in areas affecting the business of internal clients to proactively add value to their business.
• Oversee the compilation of executive and individual audit reports for audit projects executed.
• Coordinate audit efforts with all other assurance providers and ensure the provision of assistance to external auditors in respect of the functions within the SARB Group.
• Ensure compliance with all legislative and regulatory requirements of the SARB Group, and that risks within IAD and the divisionare identified, assessed and effectively mitigated.
• Manage internal and external client relationships, ensuring client satisfaction at all times.
• Provide management information in respect of the division.
• Lead, manage and develop staff members.

• Contribute to the development, implementation and maintenance of methodologies, policies, procedures and systems for the provision of internal audit services.

QUALIFICATIONS

To be considered for this position, candidates must have:

• an Honours degree in Business, Commerce or Technology.
• a Chartered Accountant (CA) or Certified Internal Auditor (CIA) qualification; and
• a minimum of 10–12 years’ experience in an internal audit environment with at least five years in a senior management position.

The successful candidate will be required to demonstrate a sound knowledge of and ability to apply:

• the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework and other governance and control frameworks.
• data analytics.
• the International Standards for the Professional Practice of Internal Auditing, supported by proven internal auditing experience.
• internal audit requirements per the Institute of Internal Auditors (IIA) Standards.
• International Financial Reporting Standards (IFRS);
• strategy formulation and implementation;
• governance, risk management and compliance; 
• continuous auditing; and
• project management. 

Additional requirements include:

• a strong understanding of accounting standards and finance;
• adherence to the IIA Code of Ethics;
• leading change;
• developing and growing others;
• effective communication;
• impact and influence;
• judgement and decision-making;
• strategic thinking; and
• innovation and creativity.

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Brief description

The main purpose of this position is to maintain all general building-related machinery and equipment in the Head Office of the South African Reserve Bank (SARB).

Detailed description

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

• Maintaining various types of general building-related machinery and equipment
• Do carpentry related tasks
• Do repairs and installations regarding all locks & keys
• Assisting the section manager in completing various general building-related tasks as and when required
• Assisting in the repositioning and maintenance of office workstations

QUALIFICATIONS

Job requirements

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

• a Matric/Grade 12 certificate or an N6 qualification;
• a Nationally recognised trade test in Carpentry with emphasis on general building maintenance;
• a broad knowledge on general building maintenance; and
• a Driver’s licence code 8 (a strong requirement).

Additional requirements are as follows:

• Two to five years’ experience as a Carpenter
• Technical skills in the use of tools and related Carpentry machinery
• Technical knowledge of the functioning of all types of general building machinery and equipment
• Experience in a general building maintenance environment with emphasis on high rise buildings
• Knowledge of locks & keys maintenance and installations
• Knowledge of the Occupational Health and Safety Act regulations and relevant risk management
• Problem-solving skills
• Knowledge in the reading of floor plans and civil drawings
• Knowledge of Carpentry design and maintenance
• Basic knowledge of workshop practice
• Computer literacy (i.e., Microsoft Office suite)
• Communication skills (i.e, written and verbal)

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Brief description

The purpose of this position is to provide managerial leadership and strategic direction to the Policy Division in the development and communication of policies relating to the Deposit Insurance Scheme (DIS) to enable the Corporation for Deposit Insurance (CODI) to carry out its mandate.

Detailed description

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

• Provide managerial direction and leadership for the work of the Policy Division, develop functional plans aligned to the departmental strategy and clarify performance expectations for the division.
• Manage the delivery of work outputs through effective resource utilisation, the setting of targets, prioritisation of work and directing other operational activities.
• Manage the policy formulation process, including the identification of areas of improvement, research, industry consultation, discussion papers and drafting standards.
• Develop a framework for the establishment and selection of appropriate pay-out mechanisms for different kinds of banks. 
• Develop a methodology to assess the adequacy of the funding level and structure of the DIS.
• Oversee the development of a communication strategy and to ensure that the contents of all communication are in line with CODI’s legislation, policies and standards. 
• Promote awareness and the education of banks and depositors on the features of the DIS.
• Contribute to reports on the activities and functions of CODI.
• Support South Africa’s participation in international forums relating to deposit insurance.
• Promote cooperation with the Financial Stability Departments’ Resolution and Crisis Preparedness Division, Prudential Authority (PA) and Financial Sector Conduct Authority (FSCA) in matters relating to the functions and responsibilities of CODI.
• Ensure compliance with legislative and regulatory requirements of the South African Reserve Bank (SARB) and CODI, and ensure that divisional risks are identified, assessed and that adequate and effective risk mitigating measures are implemented. 
• Manage the performance and development of direct reports, provide technical guidance and promote and support career management and development within the division.

QUALIFICATIONS

Job requirements

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

• a minimum of a post-graduate qualification in Economics, Accounting, Finance, Law or an equivalent field; and
• a minimum of 10–12 years’ experience in the banking or banking supervision environment with at least five years in management.

Additional requirements include:

• general management skills;
• financial sector knowledge;
• banking systems knowledge;
• report-writing skills;
• relevant legislation and international standards knowledge;
• payment systems knowledge;
• service and stakeholder focus; and
• analysing and problem solving.

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Brief description

The main purpose of this position is to plan, direct and manage a Financial Operations unit within the Financial Surveillance Department (FinSurv), ensuring the effective management of foreign exchange through monitoring the compliance with the Exchange Control Regulations and the Currency and Exchanges Manual for Authorised Dealers.

Detailed description

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

• Give strategic and leadership direction to the division.
• Contribute to the compilation of divisional operational plans and take responsibility for the implementation as well as the monitoring thereof.
• Provide input to stakeholders such as National Treasury and the South African Revenue Service (SARS) in terms of policy enhancement and formulation.
• 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.
• Manage quality, facilitate delivery of the unit-specific outputs, clarify roles and responsibilities, and optimise and manage unit resources.
• 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.
• Lead stakeholder engagements (internal and external), displaying the ability to solicit information as well as deliver a coherent and convincing message.
• Identify and mitigate risks related to own function and ensure compliance with the relevant governance frameworks.
• Stay current with developments (e.g. changes to exchange control policies, rules and regulations) and provide input to publications and surveys related to own area of expertise.
• Fulfil the line management function pertaining to the development and performance of the team.

QUALIFICATIONS

Job requirements

To be considered for this position, candidates must have:

• an Honours degree in Finance, Statistics, Business Economics, Banking, Accounting or a related field;
• industry, business and organisational knowledge;
• knowledge of, and experience in:
• quality assurance;
• continuous improvement; 
• continued learning/professional development;
• relevant software applications (MS Word, Excel, etc.);
• the application of the Exchange Control Regulations and the Currency and Exchanges Manual for Authorised Dealers;
• relevant policies; and
• the financial and exchange control regulatory environment;
• 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’ proven experience in managing teams.

Additional requirements include:

• interpersonal sensitivity;
• service and stakeholder focus;
• impact and influence; and
• skills in: 
• leading change;
• establishing focus;
• driving  results;
• promoting team work;
• developing and growing others;
• effective communication; and
• building and maintaining relationships.

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Detailed description 

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

• Analyse, assess, evaluate and report on credit risk to facilitate informed investment decision making.
• Contribute towards the formulation and implementation of policies related to credit risk.
• Conduct research on credit-risk developments and make recommendations based on the findings and best practices.
• Assist in the development of strategies for credit-risk management.
• Assist in the conceptualising and building of risk models for calculating risks associated with counterparties, portfolios and particular trades or strategies. 
• Conduct fundamental credit analyses, including, financial statement analyses for the selection, evaluation and management of the credit quality of the SARB’s counterparties.
• Participate in cross-functional activities for the alignment and harmonisation of risk-related information.
• Develop and maintain business relationships with experts within the financial markets industry.
• Develop and maintain procedure manuals for operational purposes.

QUALIFICATIONS

Job requirements

To be considered for this position, candidates must have:

• an Honours degree in Finance, Risk Management, Investment Management or an equivalent qualification; and
• two to five years’ experience in investment risk management or a related field.

Additional requirements include: 

• either the Chartered Financial Analyst, Financial Risk Manager or Professional Risk Manager designation will be an added advantage;
• knowledge of:
• financial instruments and risk management;
• modern risk management methodologies;
• commercial or investment banks’ operating models;
• skills in:
• analytics and problem solving;
• conflict management;
• verbal and written communication;
• presentations;
• computer literacy;
• interpersonal engagement;
• an ability to maintain confidentiality; and
• being team player.