Latest Openings at South African Reserve Bank

Brief description

The main purpose of this position is to analyse and make recommendations on the applications for the licensing, registration and other approvals required in terms of the relevant legislation to ensure compliance with legal and prudential governance frameworks.

Detailed description

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

• Conduct a legal assessment by analysing the applications in terms of the Financial Sector Regulation Act 9 of 2017 (FSR Act) and related sectoral laws and regulations by testing them against compliance with the legal requirements as prescribed by the relevant legislation.
• Engage applicants and frontline teams to provide information and legal guidance in respect of submissions for approval sought in terms of the FSR Act and related sectoral laws and regulations.
• Engage regulatory bodies for concurrence and related legislative requirements.
• Formulate, motivate and submit recommendations to relevant committees for consideration and decisions on the applications received.
• Engage with various stakeholders/external parties and/or participate in internal/external forums/industry meetings in order to execute the mandate of the regulator as per the legislation.
• Promote corporate governance as prescribed in the relevant legislation (e.g. Banks Act 94 of 1990, Insurance Act 18 of 2017 and Financial Markets Act 19 of 2012) in respect of the appointment of executive officers/key persons.
• Initiate, negotiate, draft and conclude memorandums of understanding with other regulators for information sharing and joint supervision purposes.
• Stay abreast of, and appropriately apply, any changes relevant to the legal field/regulatory environment.
• Participate in working groups and provide input into the development of appropriate legislative and regulatory frameworks that impact the financial sector.

QUALIFICATIONS

Job requirements

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

• a Bachelor’s degree in Law or an equivalent qualification; and
• a minimum of five to eight years’ experience within a legal environment, with exposure to the financial and regulatory fields.

Additional requirements include:

• knowledge of business protocol;
• innovative problem-solving skills;
• good communication skills;
• good interpersonal skills;
• good working knowledge of Microsoft Office and other related software packages; 
• knowledge of the FSR Act and related financial sector laws and their respective regulations;
• knowledge of the relevant legislation, regulations, legal principles, procedures, practices and tools; and 

knowledge and skill in:

• industry, business and organisational awareness;
• quality assurance;
• continuous improvement;
• continued learning/professional development; 
• research; and
• reporting.

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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 and off-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, countering the financing of terrorism and countering proliferation financing (AML/CFT/CPF). 
• Assist in AML/CFT/CPF inspection processes and present findings to the banks and life insurers.
• Provide inputs into inspection reports to the management of banks and life insurers.
• Perform off-site supervision of banks and life insurers.
• Analyse and interpret data from banks and life insurers.
• Draft and review the documentation, correspondence, presentations and so on related to AML/CFT/CPF.
• Assist in PA projects that enhance effectiveness and drive AML/CFT/CPF supervision efficiency.
• Represent the PA on internal and external forums.
• Attend meetings with the respective stakeholders as and when required

QUALIFICATIONS

Job requirements

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

• a post-graduate degree in Accounting, Auditing, Finance or Law or an equivalent qualification; and
• three to five 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); 
• 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 investigate basic, intermediate and complex alleged contraventions of the Exchange Control Regulations (Regulations), recoup capital exported from South Africa in contravention of the Regulations and/or 419 fraud schemes and enforce anti-money laundering (AML) legislation on Authorised Dealers (in foreign exchange) with Limited Authority (ADLAs).

Detailed description

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

• Investigate basic, intermediate and complex matters involving alleged contraventions of the Regulations and/or 419 fraud schemes and AML enforcement investigations for the approval of the Signing Officer. 
• Support the Signing Officer/Manager on targeted Financial Intelligence Centre Act 38 of 2001 (FIC Act) inspections and assist other divisions when required. 
• Recoup/recover/regularise capital lost as a result of alleged contraventions of the Regulations and/or administer the collection, preservation and distribution of money and/or goods seized during investigations of alleged contraventions of the Regulations.
• Conduct and/or facilitate research relevant to investigations and/or requests for information from internal and external stakeholders, submit reports on findings and make recommendations to the Manager and relevant stakeholders, furnishing management with information.
• Assist legal practitioners with matters under litigation, including research, compiling reports and making recommendations when required. 
• Engage and assist internal and external stakeholders, providing advice and training as well as support to the Signing Officer/Manager when representing the division, the Financial Surveillance Department (FinSurv) or the South African Reserve Bank (SARB).
• Stay current with developments, policies, procedures and legislation, and propose and implement the refinement and continuous improvement of tools, methods and processes.
• Coach and provide on-the-job training to team members to expand their investigative knowledge and practice.
• Record all relevant information and correspondence regarding allocated investigations.
• Serve on relevant divisional/departmental/SARB project teams based on experience, skill and ability.

QUALIFICATIONS

Job Requirements

To be considered for this position, candidates must have:

• a Bachelor’s degree in Law, Commerce or Forensics (in the accounting or financial/policing fields); 

knowledge of, and experience in:

• the Currency and Exchanges Act 9 of 1933; 
• Exchange Control Regulations and Rulings;
• law of evidence;
• law of contract;
• civil and criminal procedure; 
• the Banks Act 94 of 1990;
• interpretation of statutes; and 
• constitutional law;
• a minimum of five years’ relevant administrative, forensic and investigative experience, preferably in the banking or financial environment;
• excellent communication skills; and
• a valid driver’s license.

Additional requirements include:

• building and managing relationships;
• flexibility;
• skills in:
• verbal and written communication; 
• analysis and problem solving;
• judgement and decision making;
• planning and organising; 
• computer literacy;
• ability to work under pressure; and
• ability to travel from time to time to perform duties away from the SARB Head Office.

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Brief description

The main purpose of this position is to provide first line supervision for the property management and space planning functions within the South African Reserve Bank (SARB). 

Detailed description

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

• Plan work for self and others in the team, using discretion in defining and prioritising work for team.
• Supervise property management processes relating to space planning and property administration.
• Supervise interior design activities to ensure aesthetics aligned to SARB norms and standards and industry trends.
• Perform the property management functions relating to the acquisition and disposal of fixed/immovable assets, finance management, lease management and property validations, parking management and property inspections for the SARB’s residential and commercial property portfolio and home improvements.
• Provide property market trends and insights for the enhancements of the SARB’s property portfolio.
• Interpret property financial management information for leased-in and leased-out properties of the SARB to ascertain the performance and sustainability of the portfolio as well as reports thereon.
• Maintain high levels of tenant satisfaction which should be measured against set benchmarks, analysed trends, high levels of building performance and ensure continuous improvements thereof.
• Maximise value added benefits (e.g., car wash and restaurants) through effective interpretation of user requirements, sound contract management, risk mitigation and management in conjunction with Group Security Management Department. 
• Manage consumption, billing and/or payments and queries relating to utilities.
• Review and authorise invoices for payments within the delegation of authority.
• Supervise property administrative processes thereby ensuring accuracy and completeness in record keeping. 
• Lead and participate in stakeholder engagements (internal and external), displaying the ability to ensure high levels of service delivery. 
• Actively participate in processes that aim to continuously improve systems, processes, and procedure within the department. 
• Ensure adherence to controls and that work is performed within established practices, given processes, rules and regulations ensuring compliance with standards, policies, and other guidelines. 
• Proactively broaden knowledge of functional area, property market and space planning trends and apply new knowledge, technologies, and skills for the benefit of client departments. 
• Take responsibility for the performance and development of team members, ongoing on-the-job training and long-term career management support.
• Manage the performance and development of staff in the division.

QUALIFICATIONS

Job Requirements

To be considered for this position, candidates must:

• have a minimum of a B degree in Facilities Management, Property Management, Architecture, Urban and Rural Planning or Interior Design OR equivalent (NQF7) and
• have 5-7 years’ experience (of which 3-5 years should be in a supervisory capacity) in a corporate real estate management environment.

Additional requirements are as follows:

• property management knowledge and skills.
• space planning knowledge and skills. 
• project management knowledge and skills.
• utility management knowledge and skills.
• customer/client management skills.
• property research knowledge and skills.
• problem-solving skills.
• knowledge of the reading of floor plans and civil drawings.
• computer literacy (i.e., the Microsoft Office suite); and
• good communication skills (verbal and written)

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Brief description

The main purpose of this position is to manage the interpretation and preparation of financial reports for the South African Reserve Bank (SARB) and Corporation for Public Deposits (CPD) to ensure accurate and timely financial reporting. 

Detailed description

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

• Compile the Financial Reporting section’s operational plan and take responsibility for the implementation and monitoring thereof.
• Define, plan and allocate work for others in the team in alignment with the departmental and operational plans.
• Fulfil the line management function pertaining to the development and performance of the team. 
• Oversee and manage quality; plan and facilitate the delivery of the section’s outputs; clarify roles and responsibilities; and optimise and manage the section’s resources. 
• Design and manage the maintenance of a management information system for consistent and accurate reporting of relevant information to senior management.
• Identify and mitigate risks related to own function and ensure compliance with the relevant governance frameworks. 
• Lead and participate in stakeholder engagement (internal and external), displaying the ability to solicit information as well as deliver a coherent and convincing message.
• Stay abreast of developments in own functional area and ensure the application thereof.
• Manage the accounting function in accordance with SARB policies, the relevant accounting standards, costing principles and relevant legislation.
• Manage the preparation and submission of tax returns in accordance with the relevant legislation.
• Develop processes and set up internal controls to ensure the validity and accuracy of financial results.
• Participate on behalf of the Financial Services Department (FSD) in various task teams and working groups and liaise with all departments and subsidiaries of the SARB to ensure the accounting treatment is in accordance with International Financial Reporting Standards (IFRS) and FSD’s standards and requirements.

QUALIFICATIONS

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

• at least a Chartered Accountant (SA) (NQF 8) qualification; and
• eight to 10 years’ financial reporting experience.

Additional requirements include:

knowledge and skill in:

• industry, organisational and business awareness;
• quality assurance;
• continuous improvement;
• continued learning and/or professional development;
• finance strategy;
• finance legislation and governance, risk and compliance;
• finance project management;
• financial forecasting and budgeting;
• financial accounting; 
• cost accounting;  
• management accounting;
• financial analysis and reporting;
• financial reconciliation; 
• fixed and/or moveable asset management; taxation;
• function specific – performance management;
• function specific – information systems; and
• business continuity planning; leading change;
• managing complexity and ambiguity;
• judgement and decision-making skills;
• analysis and problem-solving skills;
• impact and influence;
• effective communication;
• a drive for results; and building and maintaining relationships.

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Brief description

The main purpose of this position is to support the securing of the facilities, personnel and assets of the South African Reserve Bank’s (SARB) Durban Cash Centre by means of electronic security systems.

Detailed description

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

• Control the access/egress of personnel and visitors through the electronic access control systems.
• Monitor the relevant security and other systems in the control room and react appropriately to situations that arise (e.g. fire management system, lifts system, evacuation system, radio system and building maintenance system). 
• Handle routine security-related tasks and requests.
• Control the master keys.
• Monitor the closed-circuit television systems.
• Update security occurrences and incidents on the Cyber Incident and Investigation Management System (CiiMS). 
• Fulfil the normal duties of a security official, as and when required.
• Provide information to management for the purposes of decision-making.
• Proactively broaden knowledge of own functional area, displaying a willingness to make improvements in the unit (including methods and practices).

QUALIFICATIONS

To be considered for this position, candidates must have:

• a Grade 12 certificate/NQF Level 4 qualification; 
• a Basic Tactical Security Training (BTST) certificate;
• a competence certificate in handling firearms (9 mm pistol, semi-automatic rifle and shotgun);
• a level of medical, physical and psychological fitness that is commensurate with the inherent requirements of the position; 
• a Private Security Industry Regulatory Authority (PSIRA) Grade C certificate;
• a favourable security clearance; 
• sound knowledge and understanding of physical security, emergency management, electronic security systems and relevant legislation; and 
• proficiency in the use of Microsoft Office (MS) software packages such as MS Word, PowerPoint and Excel, as well as the Internet, Enterprise Resource Planning (ERP) system and email.

Additional requirements include: 

• completed skills programme in control room operations (added advantage);
• analytical and problem-solving skills;
• planning and organising skills;
• judgement and decision-making skills;
• observation and surveillance skills; 
• verbal and written communication skills;
• negotiation skills;
• time management skills;
• coping under pressure;
• conflict handling; 
• professionalism, discipline and resilience to work long hours; and
• availability to work shifts (including weekends) and perform duties as required by operational circumstances.

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Brief description:

The main purpose of this position is to lead and provide strategic direction to the Financial Surveillance Department (FinSurv) of the South African Reserve Bank (SARB) in the administration of exchange controls in South Africa and its mandate to investigate alleged contraventions of the Exchange Control Regulations (Regulations) and to, where appropriate, take administrative action against alleged perpetrators.

Detailed description

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

• Lead and drive the formulation and implementation of the FinSurv strategy and align it to the SARB's strategic focus areas.
• Drive the execution of business transformation programmes, including the 1FinSurv Programme, a multi-year, technology-enhanced transformational initiative aimed at enabling FinSurv to efficiently execute its mandate.
• Lead and drive the implementation of the capital flow management framework and related reforms aimed at enhancing the surveillance of cross-border capital flows.
• Implement regulatory initiatives and frameworks that would address domestic, regional and international regulatory requirements related to the combating of money laundering, the financing of terrorism and proliferation financing. 
• Coordinate FinSurv’s contributions to the SARB’s research agenda and inputs into internal publications.
• Establish and maintain the strategic relationships with external stakeholders, among others Authorised Dealers (ADs), the Financial Intelligence Centre (FIC), South African Revenue Service (SARS), National Treasury, Common Monetary Area (CMA) member countries, other regulators and law enforcement agencies. 
• Manage the finances and non-financial aspects of FinSurv’s work effectively, based on sound corporate governance, risk management and internal control principles.
• Create a performance culture in the department, manage the performance of direct reports, and promote and support career management and development within the department.

QUALIFICATIONS

Job Requirements

To be considered for this position, candidates must have:

• a minimum of an Honours degree in Economics, Finance, Accounting, Banking, Risk Management or any other relevant field of study;
• a minimum of 12+ years of experience in exchange control or financial sector regulation, central banking, financial regulation or banking supervision; and 
• a minimum of five years’ experience in managing diverse and multi-functional teams.

Additional requirements include:

knowledge of and skill in:

• industry, business and organisational awareness;
• the domestic, regional and international exchange control regulatory environment and architecture;
• quality assurance;
• continuous improvement;
• continued learning/professional development; 
• general management; 
• operation of the financial system and its components;
• exchange control delegation, policy, legal framework and the exchange control liberalisation agenda;
• money and banking;
• monetary policy and central banking; 
• supervision approaches, tools and techniques; and
• research methodologies, analytical techniques, modelling and decision support tools.

Job-related skills and attributes include:

• cultivating self-awareness and mastery;
• developing inter-personal effectiveness;
• building and maintaining trust;
• acting with empathy and compassion;
• developing and empowering teams;
• fostering diversity and inclusion;
• creating and driving purpose;
• leading cohesive teams through effective communication;
• fostering collaboration;
• leading change;
• managing complexity and ambiguity;
• driving digital dexterity/fluency; and
• interacting at a high level with SARB executives and captains of industry.