Job Opportunities at South African Reserve Bank

Brief Description        

• The main purpose of this position is to assist the Prudential Authority (PA), within the South African Reserve Bank (SARB), in discharging its supervisory duties as defined in the Financial Intelligence Centre Act 38 of 2001, as amended (FIC Act).

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

•      Participate in targeted on-site inspections at banks, mutual banks, life insurers, cooperative banks, banks’ subsidiaries in foreign jurisdictions and branches of foreign banks domiciled in South Africa, to test compliance with the provisions of the FIC Act with regard to anti-money laundering, counter-financing of terrorism and counter-proliferation financing (AML/CFT/CPF).
•      Lead inspections targeted at banks and life insurers to assess compliance with the FIC Act and FATF standards, including travelling to banks’ subsidiaries in foreign jurisdictions.
•      Analyse and interpret data from banks and life insurers.
•      Drafting and review of documentation, correspondence, presentations etc.
•      Assist in PA projects, which enhance effectiveness and drive AML/CFT supervision efficiency.
•      Attend meetings with respective stakeholders as and when required.
•      Provide inputs into inspection reports and closing letters to the management of banks and life insurers.
•      Undertake ad hoc on-site review projects pertaining to banks’ compliance with the Banks Act 94 of 1990 (Banks Act) and the Regulations relating to Banks.
•      Manage AML/CFT inspection processes and present findings to the supervised institutions.

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

•      a Post graduate degree in Accounting, Auditing, Finance or Law an equivalent qualification; and
•      five to eight years’ practical experience in AML/CFT/CPF compliance within the banking and/or life insurance industry.

Additional requirements include:

•      knowledge of the provisions of the FIC Act;
•      knowledge of international standards relating to AML/CFT/CPF (i.e. the Financial Action Task Force 40 Recommendations and the Basel Core Principles and Guidelines);
•      knowledge of the Banks Act and the Regulations relating to Banks;
•      problem-solving and analytical skills;
•      financial and business acumen;
•      attention to detail;
•      excellent verbal and written communication skills;
•      ability to effectively and efficiently manage time;
•      proven ability to influence, build and maintain relationships; and
•      proven ability to work effectively in a team.

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Brief Description        

• The main purpose of this position is to clean designated facility areas and to ensure a hygienic environment for employees and visitors of the Johannesburg Cash Centre of the South African Reserve Bank (SARB).

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

•      Plan and perform tasks against work plans as defined by the team leader.
•      Clean offices, boardrooms, the dining area, the plant, ablution facilities and parking areas.
•      Load and offload consignments.

Job Requirements        
To be considered for this position, candidates must have:

•      the minimum of a Grade 12 or an equivalent qualification.

The following would be an added advantage:

•      some experience in a service-related environment.

Additional requirements include:

•      quality assurance;
•      teamwork; and
•      flexibility.

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Brief Description        

• The main purpose of this position is to perform day-to-day planning, scheduling and coordination (issue and follow through on work orders) within the Engineering and Facilities Services divisions of the South African Reserve Bank (SARB).

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

•      Plan daily capacity to optimise resources cost (labour, material and equipment) across the Engineering and Facilities Services divisions.
•     Identify, plan and schedule different types of maintenance activities (i.e. breakdown maintenance, condition-based maintenance, and scheduled and operational (ad hoc) maintenance).
•      Draw, issue and follow up on backlog work orders to ensure the timely dissemination of information to relevant team leaders.
•    Perform daily and weekly planning (seven-day cycle), including sourcing materials (to reduce lead times) as per the work package, and gather information for the monthly report.
•      Identify, purchase, update and manage the spares inventory for work orders and file the proper documentation.
•     Manage the vehicle maintenance and procurement system as required for qualifying management staff, issue daily work orders and produce reports needed by the Financial Services Department.
•      Develop cost and time estimates for planned and corrective (ad hoc) maintenance work.
•      Manage and advise role players (mainly technicians and contractors) on the effective and standardised prioritisation of work (as per service level standards).
•      Keep records of key documentation for maintenance activities and assist in configuration management activities as required for planning.

Job Requirements        
To be considered for this position, candidates must have:

•    an N6 Technical Diploma in Engineering, or a National Diploma in Engineering or Industrial Engineering;
•    a valid driver’s licence;
•    three to five years’ general work experience with one to three years’ experience as a technician or technical planner; 
•    previous experience in working with multidisciplinary technical teams at various levels; and computer literate and able to work on Microsoft Office (MS Word and Excel).

The following would be an added advantage:

•    a specialist qualification in planning and scheduling; and
•    an intermediate to advanced computer qualification.

Additional requirements include:

•      sound knowledge of filing and records management;
•      a thorough knowledge of engineering and facilities management in the SARB or a similar environment;
•      an understanding of the safety, health, environment, risk and quality (SHERQ) management system;
•      excellent interpersonal, and verbal and written communication skills; and
•      the ability to function independently (self-starter).

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Brief Description        

• To plan, direct and manage a team of Analyst responsible to monitor 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:

•      To ensure compliance and reporting of cross-border transactions in order to prevent the abuse of the financial system and support regulation of financial institutions.
•      To 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.
•      Establish, develop, embed and enhance processes and systems to reduce inefficiencies on monitoring exceptions.
•      Manage project plans, resource allocation, management of people, budget and stakeholder relations.
•      Implement and oversee best practice analytical methodologies and standards.
•      Embrace and leverage analytical tools to automate processes, including building surveillance models for exception reporting.
•     Provide input to stakeholders (e.g. National Treasury, South African Revenue Services) 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 Analysts.

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, SQL, SAS or Python.
•      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.

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Brief Description        

• The main purpose of this position is to maintain and install mechanical subsystems in to optimise building systems at the South African Reserve Bank (SARB) Head Office.

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

•          Engage in short-term planning.
•          Perform tasks independently in accordance with set standards and procedures.
•          Perform fault-finding for mechanical subsystems by applying a set of modified techniques within a defined context.
•        Conduct preventative and corrective maintenance in the mechanical subsystems and/or equipment and determine possible component failure to enhance system capability.
•          Test all work and close off assigned job cards (work orders) on maintenance and project work.
•          Interpret work instructions and drawings concerning construction, alterations, modifications, enhancement maintenance and operational projects.
•       Apply statutory principles to comply with safety, health and environmental requirements in terms of, among other regulations, the South African National Standards (SANS) and the standards of the International Organization for Standardization (ISO).
•         Perform quality assurance on work done by external service providers for adherence to industry requirements and report possible non-conformance to the supervisor.
•          Prepare and submit weekly reports using standard templates (job cards and non-conformance reports), highlighting the work completed and problem areas.
•          Engage positively with clients and other stakeholders, including complaints and compliments.
•          Address any gaps in own performance of tasks and activities against the required standard(s).
•         Adhere to the Occupational Health and Safety Act 85 of 1993 (OHS Act) within SARB and enforce compliance when working with external service providers.

Job Requirements        
To be considered for this position, candidates must have:

•          a National Trade Test certificate in a mechanical trade (fitter and turner or fitter);
•          an N4 or NQF4 technical qualification or an equivalent qualification will be an advantage;
•          three to five years’ experience in a technical trade environment;
•          a valid driver’s licence; and
•          accommodation within 30–60 minutes from the worksite to tend to emergency call-outs while on standby duties.

Additional requirements include:

•          being conversant in the dynamics of a high-rise and/or high-tech commercial office environment;
•          having working experience of maintaining water pressurised systems (pressure reducing valves, pilot valves and so on);
•          knowledge of:
  •        mechanised doors (roll-up, sliding);
  •        general mechanical maintenance procedures;
  •        the OHS Act and its regulations;
  •        risk management related to occupational health and safety; and

-        the reading of mechanical and civil drawings;

•          problem-solving skills;
•          own transport;
•          able to work overtime and do standby duties when required;
•          computer literacy (i.e. working knowledge of the Microsoft Office suite); and
•          good communication skills (verbal and written).

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Brief Description        

• The main purpose of this role is to act as a Data Steward and provide support to the information management function in the management and oversight of data and information assets in order to provide business with high quality and consistently accessible data and information.

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

•      To prepare and provide accurate and reliable data and information in support of strategic decisions.
•      To create and maintain business metadata for published data sources to ensure that it is easily discoverable and meaningful to information consumers.
•     To create and maintain consistent meta data in a manner that allows for clear and unambiguous data definition and meets legislative, quality and security requirements.
•      To acquire new data sources in order to enable effective departmental decision making.
•   To prepare relevant data for appropriate consumers in the SARB Group and relevant stakeholders and monitor the published data sources for usage/relevance/quality feedback.
•      To ensure that the assigned data element is current and does not conflict with other data elements in the metadata registry and ensure consistency in data usage across various systems.
•      To proactively identify and resolve data integrity and quality issues.
•      To stay current with developments in all functional areas relevant to information management and ensure appropriate application thereof.
•      To propose and implement the refinement and continuous improvement of systems, tools, methods and processes in own area.

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

•      A minimum of a bachelor’s degree in information technology, Computer Science, Mathematics OR equivalent at NQF 7; and
•      A minimum of 5-8 years’ experience in relevant environment (e.g. Master data management or Data governance).

The following would be an added advantage:

•      Relevant certifications (e.g. Certified Data Steward)   

Additional requirements are as follows:

•      EIM legislation and governance, risk and compliance knowledge and skills.
•      EIM Reporting knowledge and skills.
•      Information Governance knowledge and skills.
•      Data Security knowledge and skills.
•      Reference and master data knowledge and skills.
•      Metadata management knowledge and skills.
•      Data Quality Management knowledge and skills.
•      Competence in Microsoft office software packages (e.g. Excel, Word, PowerPoint).
•      Proficiency in verbal and written communication skills (including presentation and report writing skills).
•      Continuous improvement knowledge and skills.

Job Related skills and attributes

•      Effective communication skills.
•      Analysis and problem solving skills.
•      Drive for results.
•      Building and manage relationships.
•      Planning and organising.
•      Stakeholder and client focus.
•      Impact and influence.
•      Flexibility.
•      Judgement and decision making.
•      Innovation and creativity.

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Brief Description        
The South African Reserve Bank (SARB) is inviting productive and talented postgraduates to join its one-year Graduate Development Programme (Programme) in January 2024.   
Detailed Description        

• The SARB serves the economic well-being of South Africans through maintaining price and financial stability. It is responsible for the regulation of the South African financial sector, the design and distribution of banknotes and coin, the management of interest rates, setting the cash reserve requirement for banks, and ensuring the stability of both the banking sector and the wider financial system.

What the Programme is about

• Exposure to departments in the SARB
• Graduates will work and learn at the SARB Head Office from January to December 2024. They will be assigned to a department and exposed to various tasks and projects.
• During the Programme, graduates will attend various learning interventions at the SARB Academy. Interventions are mainly specific to central banking and are aimed at producing well-rounded central bankers. As part of the holistic programme, graduates will also gain personal and professional skills such as assertive communication, public speaking and presentations, creating powerful PowerPoint presentations, impactful reporting, teamwork and personal excellence and etiquette.

After the first year

At the end of the year, some graduates will be permanently appointed into a department of the SARB. Those most likely to be appointed are graduates who:

•          are interested in continuing their career at the SARB;
•          have a desire to contribute to monetary policy, financial stability, currency management, supervising financial institutions, financial markets, or any one of the SARB’s enabling functions;
•          have demonstrated behaviours aligned to the SARB’s values of accountability, excellence, integrity, respect and trust and open communication;
•          can function independently and contribute actively and effectively in a team; and
•          have performed exceptionally well in their assigned departments and academically.

Job Requirements        

• Applications are open to candidates who have a postgraduate qualification in one of the following fields: economics, econometrics, research, policy analysis, public finance, accounting, auditing, statistics, financial management, information technology, law, portfolio or investment management, mathematics, quantitative analysis, business analysis, project management, risk management (operational and financial risk), treasury, or international relations.

You meet the requirements if you:

•          have completed a postgraduate degree;
•          have attained an average of over 65% in your final year;
•          have a strong desire to work in financial services and/or policymaking;
•          have a proven track record of academic excellence;
•          have excellent communication and interpersonal skills;
•          are a South African citizen; and
•          are a curious and keen learner.