Job Vacancies at South African Reserve Bank

Job title: Head of Department – National Payment System Department

Location: Head Office, Pretoria

Department: National Payment System Department

Brief description

The purpose of this position is to provide leadership and strategic direction for the National Payment System Department (NPSD) of the South African Reserve Bank (SARB), and the broad payment industry initiatives to ensure the overall effectiveness and integrity of the national payment system (NPS).

Detailed description

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

• Provide leadership and strategic direction to the broader NPS industry and the NPSD to facilitate the development of the NPS.
• Provide an interbank settlement service for all domestic and rand-denominated foreign exchange transactions.
• Provide an interbank settlement service for regional transactions settled on the regional payment settlement platform.
• Oversee the NPS to ensure its development in line with changes in the financial system and the environment.
• Regulate and supervise payment service providers, including administering NPS regulation (i.e., the NPS Act 78 of 1998 and directives) to manage risks in the payment system, and prevent payment settlement failures and possible systemic risk.
• Participate in regional payment system initiatives, and provide leadership and strategic guidance to the Southern African Development Community (SADC) payment system initiatives.
• Facilitate relevant research to keep abreast of developments and best practices to ensure alignment with international payment system practices that foster compliance with international standards.
• Participate in international payment system standards, setting bodies and forums to provide South African and developing economies' input into global guidelines and standards.
• Participate in international and regional payment system oversight structures to ensure alignment of initiatives to domestic policy objectives.
• Facilitate capacity building and information dissemination initiatives, including relevant publications on NPS matters to ensure public awareness and promote fair access to, and wider usage of, the NPS.
• Provide strategic direction and develop plans, management practices and controls for the NPSD.
• Direct the preparation of budgets, and coordinate spending based on the NPSD strategic and operational plans.
• Direct human resource activities, including the approval of human resource plans, hiring and developing staff, overseeing performance management systems, and determining divisional structures.
• Manage the performance and development of direct reports, create a performance culture in the department, and promote and support career management and development.
• Guide and participate in the development of payment systems on the continent and the region, with specific reference to SADC.

Job requirements

• To be considered for this position, candidates must have:
• an Honours degree in Banking, Finance or Information Technology; and
• at least 12 years’ experience in the banking or financial systems and payments environment, including a good exposure to information technology systems, of which at least six years of the experience should be at senior general management level.

The following would be an added advantage:

• a Master of Business Administration (MBA) or a Master of Business Leadership (MBL) qualification.

Additional requirements include:

• knowledge of payment and settlement systems;
• banking knowledge (central and commercial);
• exposure to risk management practices;
• background in relevant legislation;
• adequate understanding of financial markets;
• project management experience;
• knowledge and experience in information technology systems;
• computer literacy;
• verbal and written communication skills;
• high-level problem-solving and analytical skills;
• managerial experience;
• presentation skills, including public speaking;
• facilitation skills;
• negotiation skills;
• strategic thinking;
• exposure to research methodologies; and
• knowledge of human resource management.

In line with the SARB’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply.

The SARB offers remuneration and benefits commensurate with the level of the position and in line with the market. The level at which the successful applicant will be appointed will depend on his/her competence and experience.

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Job title: Head of Department – Financial Stability Department

Location: Head Office, Pretoria

Department description: Financial Stability Department (FinStab)

Brief description

To lead and provide strategic direction for the Financial Stability Department (FinStab), and evaluate, report and promote financial system soundness in support of the financial stability mandate of the South African Reserve Bank (the Bank).

Detailed description

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

• Provide strategic direction and leadership to the FinStab and coordinate efficient and effective planning, budgeting, resourcing, organising, governance, control, risk management and operations.
• Establish the framework and processes to research, analyse and actively monitor financial system soundness indicators and interconnectedness to detect trends and early warning signs of risks, sources of systemic vulnerability, distress or imbalances in the financial system.
• Oversee and direct the process to disseminate accurate and relevant information on the resilience of the financial system to internal and external financial regulators, policy makers and other stakeholders.
• Oversee the development and maintenance of appropriate processes to monitor and stress-test the financial system and develop, facilitate and coordinate contingency plans for responding to potential systemic events, including appropriate resolution plans, financial safety net policies and other tools and strategies for minimising the cost of systemic events, should they occur.
• Direct and maintain the analysis, policy instruments and tools necessary to manage systemic risk to an acceptable level.
• Contribute towards a robust legal and regulatory environment and a financial system that, as a whole, is inherently resilient to shocks.
• Ensure that systematically important financial institutions (SIFIs) have relevant capital and leverage ratios and countercyclical capital buffers to reduce systemic risk.
• Contribute to committees and work groups of international standard setting bodies to ensure that South Africa’s commitments and obligations in terms of global financial stability initiatives are met.
• Develop and direct, in close collaboration with other regulators, a detailed understanding and analysis of financial market infrastructure (FMI) institutions and their contribution to the soundness of the financial system, and address vulnerabilities through recommended policy actions consistent with international standards to enhance the resilience of the FMIs.
• Manage the performance and development of staff, build strong leadership and specialist pipelines, and promote and support career management and development.

Job requirements

To be considered for this position, candidates must have:

• A Master’s degree in Banking, Economics or Finance; and
• At least 12 years of technical central banking experience, financial regulation experience or banking supervision experience; which should include seven (7) years of general management and/or corporate governance experience.

The following would be an added advantage:  

• A Doctor of Philosophy in Economics, Banking or Finance.

Job-related knowledge:

• General management and leadership in a changing organisation.
• Thorough knowledge of operations of the financial system and its components.
• Broad understanding of economic theory and the economics of regulation.
• In-depth knowledge of financial and banking regulation and supervision approaches, tools and techniques.
• Knowledge of research methods, analytical techniques, modelling and decision support tools.
• Up-to-date knowledge of international financial stability and regulatory best practice and relevant emerging trends and developments.
• Thorough knowledge of the history, causes and resolution of systemic financial events.
• Development and implementation of policies, procedures and systems.
• Project management.

Job-related skills and attributes:

• Building strategic relationship and creative thought leadership
• Problem solving and analysis
• Verbal and written communication
• Conflict management
• Planning and organising
• Risk management
• Influencing
• Negotiation
• Systems thinking

In line with the SARB’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply.

The SARB offers remuneration and benefits commensurate with the level of the position and in line with the market. The level at which the successful applicant will be appointed will depend on his/her competence and experience.