Trending Jobs at South African Reserve Bank

Detailed description 

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

• Oversee liquidity risk management practicesacross life insurers, non-life insurers, and reinsurers.
• Evaluate insurers’ Insurance Liquidity Ratio (ILR) compliance with FSI 6 requirements and assess liquidity stress testing and reverse stress testing methodologies used in Own Risk and Solvency Assessments (ORSA).
• Ensure alignment with international solvency frameworks (Solvency II, IFRS 17).
• Monitor liquidity buffers, funding gaps, and contingent funding strategies of insurers.
• Ensure FMIs maintain adequate High-Quality Liquid Assets (HQLA) to cover stress liquidity needs.
• Assess FMI liquidity stress testing, intraday liquidity management, and interdependencies.
• Assess PFMI Principle 7 (Liquidity Risk) and FSB recommendations in regards to the PA approved framework.
• Develop ALM risk analytics models to assess liquidity vulnerabilities across the insurance and FMI sectors.
• Support the Financial Stability Department in monitoring contagion risks related to insurers and FMIs.
• Contribute to the development of the PA guidance on ALM and engage in regulatory dialogue with insurance firms, FMIs, and industry stakeholders on liquidity risk best practices.
• Collaborate with SARB’s Financial Stability Committee to implement liquidity crisis response frameworks.
• Guide supervisory interventions during liquidity crises affecting insurers or FMIs.

Qualifications

Job Requirements 

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

• a post-graduate degree in either Accounting, Auditing, Banking, Computer Science, Economics, Finance, Information Management or Risk Management; and
• at least eight to ten years of relevant working experience in the financial services or financial regulatory sector and;
• two years or more of proven experience managing a team would be an advantage.

The following professional certifications will be added advantage:

• CFA (Chartered Financial Analyst)
• FRM (Financial Risk Manager)
• PRMIA (Professional Risk Manager)
• CERA (Certified Enterprise Risk Actuary).

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Detailed description

The successful candidates will be responsible for, among other tasks, the following:

Supervision

• Review and evaluate insurance firms’ ALM frameworks and reports and their ability to manage ALM-related risks.
• Provide expert guidance on matters relating to compliance with minimum regulatory requirements relating to ALM for supervised institutions.
• Develop analytical methods to analyse and interpret risk-based regulatory data submissions.
• Conduct on- and off-site reviews of ALM-related risks for the insurance sector. 
• Identify ALM-related risks by processing, reviewing and evaluating relevant applications from supervised institutions. 
• Provide specialist support with respect to ALM-related risks within the Prudential Authority (PA).
• Stay abreast of international best practices and developments surrounding ALM-related risks.
• Inform the PA regarding the aggregate behaviour of insurers regarding ALM-related risks.
• Ensure that the own risk and solvency assessment (ORSA) process adequately captures ALM-related risks.
• Assist with the development of internal policies and processes for supervising ALM-related risks.
• Ensure widespread understanding of the concepts and developments in the fields of the above-mentioned risks throughout the PA.
• Assist with the development of internal policies and processes for supervising ALM-related risks.
• Ensure widespread understanding of the concepts and developments in the fields of the above-mentioned risks throughout the PA.

Job Requirements

To be considered for this position, candidates should have: 

• a Postgraduate qualification in Risk Management, Finance, Accounting or Auditing; and
• five to eight years’ applicable experience in the insurance or financial sector or within risk management. 

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Detailed description

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

• Participate in the strategic processes of the department. 
• Contribute strategically to the development of the department’s annual audit plan by identifying and elaborating on priority risks affecting departments and the SARB.
• Prepare case studies and conduct training sessions within the department, mentor other auditors as well as provide training to managers in areas of governance, risk management and control relevant to the SARB. 
• Lead a team of auditors on audit assignments of varying complexity, plan the audits, allocate and provide quality assurance work, project manage the delivery to set milestones, and manage the relationships with the internal clients. 
• Integrate the research of different auditors and the findings from audit tests to scope and set the objectives of the audits and prepare audit recommendations. 
• Compile and review thorough, concise and reliable audit reports, quality assuring and integrating the inputs of other auditors into the final report. 
• Present audit results to the SARB’s heads of department and, where necessary, the executive management of the SARB and the SARB’s Audit Committee. 
• Take responsibility for the performance and development of the team.
• Stay abreast of and actively contribute to the development of new internal audit approaches and best practices (methods, analytical techniques, new models, procedures) in the SARB. 
• Lead briefings and presentations with departments and engage senior managers and other technical auditors in the SARB. 

Qualifications

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

• a minimum of an Honours degree (NQF 8) in Internal Auditing, Accounting, Risk Management or Information Systems;
• a Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA) or CA(SA) qualification; and
• a minimum of 8 to 10 years’ experience within an auditing environment.

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Detailed description

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

• Provide guidance on the strategic focus areas for the department and strengthen oversight on the implementation of initiatives across the statistical value chain.
• Identify strategic challenges, opportunities and priorities for the South African Reserve Bank (SARB) from own analysis of current domestic and global economic activity and research findings.
• Conduct research and analysis to inform policy formulation, set research priorities, guide other Economic Statisticians in their research and report writing, and lead internal and external engagements. 
• Ensure the accuracy of all relevant short-term economic indicators and disciplines covered in the Quarterly Bulletin and integrate analysis across all areas of the economy.
• Contribute to the quality assurance of all relevant statistical data publications.
• Participate in the design and development of new statistical datasets and indicators on emerging issues, including data gap initiatives. 
• Work to enhance the systems, processes and tools used to compile and visualise statistics in the area of work.
• Lead team engagements within and across teams/divisions to examine and reconcile data, findings, insights, explanations and recommendations from research and analysis.
• Review draft reports analysing short-term economic activity in the South African economy.
• Conduct and explain methodological research and analysis on short-term changes in economic indicators and complex economic phenomena affecting monetary policy. 
• Oversee research on methodological practices, make improvement recommendations, mentor Economic Statisticians, prepare case studies and run seminars or learning circles internally and externally.
• Lead internal evaluations of methodologies and continuous improvement of research or statistical methodologies and practices.
• Apply knowledge and professional judgement of statistical process, methodologies and technologies used nationally and internationally and communicate this understanding to stakeholders to ensure the establishment of fit-for-purpose outputs.
• Prepare and present documentation/presentations to senior management and other professional platforms focused on statistics compilation, research findings and policy implications, and contribute to the development of national and international statistical standards, classifications and frameworks. 
• Maintain a broad learning perspective and identify emerging trends and themes across all economic fields.

Job requirements

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

• a Master’s degree in Economics and/or Statistics or an equivalent postgraduate qualification;
• 8 to 10 years’ experience in an economics and/or statistical environment; and
• a PhD or the ability to programme in R and/or Python and related open-source software would be an added advantage.

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Detailed description

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

• Conduct supervisory oversight of designated banks and participate in supervisory practices, including:
• analysing and assessing the strategies, business models and business portfolios of banks;
• analysing, monitoring and forming a view of risks (i.e. credit, liquidity, market, capital and operational risks) that banks are exposed to and the impact thereof on their risk profiles; 
• assessing compliance with the Banks Act 94 of 1990, the Regulations relating to Banks and the Financial Sector Regulation Act 9 of 2017 (FSR Act), including compliance with all prudential and regulatory requirements; 
• analysing and assessing the evolving economic and operating environment and the impact thereof on banks’ risk profiles;
• analysing and interpreting financial and risk information, including risk-based regulatory data submissions and the alignment thereof with industry best practices; 
• contributing to and participate in risk-based meetings with banks and their auditors; and 
• preparing detailed reports based on the outcome of the analysis performed.
• Review, analyse and evaluate banks’ internal capital adequacy assessment process.
• Review and evaluate financial entities’ recovery plans.
• Analyse and interpret regulatory returns for regulated entities.
• Conduct research and provide input into the regulatory framework (e.g. the Banks Act 94 of 1990), in line with international best practices.
• Interpret and develop amendments to the legislative framework, based on international best practices.
• Develop and implement the supervisory review and evaluation process, in line with international best practices. 
• Manage correspondence and maintain electronic records in line with operational standards.
• Contribute towards the attainment of departmental strategic objectives.
• Contribute towards the attainment of operational objectives.

Job requirements

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

• a postgraduate qualification (NQF 8) in Accounting, Banking, Commerce, Economics, Finance or Risk Management; and
• at least two to five years’ experience in the finance sector or financial regulatory environment. 

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Detailed description

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

• Supervise insurers and insurance groups within the portfolio through a combination of on- and off-site supervisory tools, focusing on both quantitative and qualitative financial and non-financial information, to identify and assess risks and then propose mitigating actions.
• Provide input into the development and implementation of a prudential risk-based supervisory plan for each insurer and insurance group within the portfolio.
• Provide input and assistance into the development and implementation of the regulatory framework.
• Analyse quantitative and qualitative data through the statutory submissions received from insurers and insurance groups. 
• Assist with, and provide input into, the co-ordination and implementation of interventions for problematic insurers and/or insurance groups, as per the supervisory ladder of intervention.
• Maintain databases and records of all relevant information on the insurers and insurance groups within the portfolio.
• Liaise and collaborate with other relevant departments within the Prudential Authority (PA) and the South African Reserve Bank (SARB).
• Assist with, and provide input into, the development of public documents relating to insurance supervision.
• Liaise with the industry, other regulators (local and international) and relevant financial institutions.
• Process the notifications and applications of a financial and non-financial nature. 
• Promote efficient, fair and sustainable insurance markets as well as policyholder protection.

Job requirements

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

• a postgraduate qualification (NQF 8) in Accounting, Banking, Economics, Finance, Insurance or Risk Management, or a relevant equivalent qualification; and 
• at least 5–8 years of relevant working experience in a regulatory environment or the financial sector.

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Detailed description

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

• Provide IT technical support and service restoration for daily operations and project efforts in a timely manner and in accordance with agreed SLAs.
• Assist executives with the installation, configuration, troubleshooting and ongoing usability of desktop computers, software and peripheral equipment, adhering to best practices.
• Perform preventative maintenance tasks and remedial repairs on desktop computers, printers and any other associated peripherals.
• Collaborate with vendor support contacts to resolve technical problems with desktop computing equipment and software.
• Maintain a high degree of customer service for all support queries, and adhere to all service management
• principles.
• Take ownership of user problems and be proactive when dealing with user issues.
• Proactively build and maintain positive relationships with executives and other relevant stakeholders, displaying the ability to build rapport at all levels of seniority.
• Perform day-to-day duties in an ethical manner, ensuring complete confidentiality in all matters related to the SARB’s Executive Office.

Job requirements

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

• A minimum of a Diploma in IT (NQF level 6) or an equivalent;
• Microsoft Certified Desktop Technician (MCDST) qualification; 
• an A+ or N+ qualification);
• an Information Technology Infrastructure Library (ITIL) Foundations v3 certification and;
• three to five years of experience in a desktop support environment.

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Detailed description

The successful candidates will be responsible for, among other tasks, the following:

• Supervising, overseeing and participating in supervisory practices, including
• contributing towards maintaining a financially sound and stable insurance sector, in particular, and the overall financial services sector
• assessing compliance with prudential regulations and applicable financial soundness standards
• identifying cross-sectoral risks and devising appropriate measures to contain them
• implementing a risk-based, pre-emptive, outcomes-based and integrated supervisory framework
• refining the supervisory approach by introducing prudential supervisory best practices
• contributing towards the development of processes and procedures for effective implementation of the Insurance Act and related prudential standards
• knowledge of, and experience in, the financial system, financial products, and related risk models and systems; 
• review and evaluation of the adequacy and appropriateness of the own risk and solvency assessment (ORSA) submissions of each insurer for their specific risk profile
• deploying effective supervisory tools for monitoring insurers’ exposure to the above risks
• identifying cross-sectoral risks and devising appropriate measures to contain them
• ensuring the sufficiency and appropriateness of capital and solvency requirements of the assigned insurance entities with respect to all prudential risks
• ensuring insurers’ risk management practices and governance structures are adequate
• analysing and interpreting risk-based regulatory returns
• financial analysis
• Provide guidance and direction to subordinates, including setting performance standards and monitoring performance
• Make valuable contribution to prudential regulation matters relating to financial conglomerates
• Contribute towards attainment of department strategic objectives
• Mentor, train and motivate staff towards attainment of a common goal
• Manage the attainment of operational objectives.

Job requirements:

To be considered for this position, candidates must have:

• A Postgraduate degree in commerce, economics, law, finance, risk management, accounting or actuarial science or any other relevant field of study
• Have at least 8 - 10 years’ experience in the financial services, preferably in a prudential regulatory environment; and
• At least two years’ experience in managing/supervising subordinates.

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Detailed Description

The successful candidates will be responsible for, among other tasks, the following:

• Provide strategic direction to a team of analysts in terms of ongoing supervisory oversight of allocated banks, banking groups, and related financial entities, including the operational alignment of supervisory programmes and supervisory activities.
• Provide thought leadership within the Financial Conglomerate Supervision Department of the Prudential Authority (PA) and support the relevant Financial Conglomerate Supervision Divisional Head in achieving the overall departmental strategic and operational objectives.
• Provide technical assistance and guidance to a team of analysts.
• Manage the team’s deliverables, including team member work plans, resource allocation and workload management, team processes and systems, and change and innovation initiatives in the team.
• Manage the team members’ performance and the team’s overall performance.
• Manage talent in the team, including the learning and development of team members, and team member retention and succession planning.
• Contribute to the team’s compliance with the governance, risk management and information management policies and procedures relevant to the PA and the South African Reserve Bank (SARB), and ensure compliance with PA-specific procedural policies and guidelines.
• Contribute to special projects in the PA.

Job requirements

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

• a postgraduate degree in, Accounting, Banking, Economics, Finance, Insurance or any other relevant field;
• at least eight years’ experience in the financial services or financial regulatory sector; and
• at least two years’ proven experience in managing a team.

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Detailed description

The successful candidates will be responsible for, among other tasks, the following:

• To lead and manage an AML/CFT team responsible for conducting off-site supervision pertaining to compliance with the provisions of the FIC Act with regard to anti-money laundering (AML) and the combating of the financing of terrorism (CFT); and undertaking reviews to assess compliance with AML/CFT requirements and standards, with the application of a risk based approach; 
• To identify new and emerging ML/TF/PF risks, including those in jurisdictions where South African banks and insurers have operations, including the maintenance of the risk-based tool and ensuring that information is incorporated into the risk-based tool that will inform the frequency and duration of onsite inspections;
• To develop and maintain the risk-based supervisory manual and framework; 
• To compile the annual supervisory calendar taking into account work of the off site team which must be reflective of a risk based approach; which includes inspections as  well as other supervisory engagements; 
• To ensure that the AML/CFT risk returns are analysed timeously and that sector risk assessments are being conducted on a periodic basis for the banking and life  insurance sector; 
• To oversee the drafting of AML/CFT/CPF guidance for internal and external stakeholders to ensure effective implementation of a risk-based approach;
• To manage the provision of management information in respect of the progress of remedial action and research;
• To review and provide first level approval of the AML/CFT/CPF risk inputs of the team into the pre-inspection documentation;  
• To manage the development and maintenance of relevant procedures and processes for conducting inspections;
• To manage off-site monitoring activities performed by the team;
• To manage the performance and development of the AML/CFT off-site team
• To introduce innovation and drive the use of technology to inform risk-based supervision, collation of statistics, engagement with external stakeholders, creation of an    AML/CFT/CPF dashboard for analysis and reporting purposes; and
• To ensure that the first-class standard of AML/CFT best practice off-site supervision is conducted. 

Job requirements

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

• a postgraduate qualification in Finance, Law, Business Management or any other relevant qualification;
• a minimum of eight years of AML/CFT compliance-related working experience in the financial services sector, a supervisory body or a regulatory environment; and
• a minimum of two years of experience of managing teams.

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Detailed description

The successful candidates will be responsible for, among other tasks, the following:

• Lead and manage the AML/CFT team responsible for conducting high-quality inspections and on-site supervision pertaining to banks’ compliance with the provisions of the FIC Act with regard to AML/CFT and CPF, and undertake reviews to assess compliance with AML/CFT requirements and standards.
• Assist with the development and maintenance of worksheets and process manuals for conducting inspections and on-site reviews.
• Attend to a programme of inspections, reviews and other interactions with banks and life insurers to be undertaken per year in terms of the department’s supervisory calendar.
• Perform the duties relating to the administrative arrangements for each inspection and on-site review.
• Maintain a project plan to be followed for individual inspections and on-site reviews.
• Execute inspections and on-site reviews at the premises of individual banks and life insurers.
• Conclude inspections and on-site reviews at banks and life insurers by producing inspection and on-site review findings reports and closing letters to the management of banks and life insurers, with appropriate recommendations to address the identified weaknesses.
• Ensure that on-site inspections are risk-based.
• Provide management information in respect of the progress of inspections and on-site reviews. 
• Manage the performance of the AML/CFT team.

Job requirements

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

• a postgraduate qualification in Finance, Law, Business Management or any other relevant qualification;
• a minimum of eight years of AML/CFT compliance-related working experience in the financial services sector, a supervisory body or a regulatory environment; and
• a minimum of two years of experience of managing teams.

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Detailed description

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

• Define own work plan and deliverables with guidance from the Senior Team Lead: Messaging and Collaboration and prioritise the delivery of own outputs against the agreed work plan.
• Provide first line support services on all AV, VC and DS equipment installed in the SARB’s Conference Centre, auditoriums and board/meeting rooms.
• Set up and install all relevant AV, VC and DS equipment, such as microphones, sound equipment, video screens and projectors, for various events and functions, including meetings, conventions, presentations and conferences.
• Identify and implement opportunities for integration, consolidation and enhancements to ensure the cost-effective and optimal use of AV, VC and DS technology within the SARB Group.
• Research and evaluate new or alternative AV, VC and DS architectures and related technologies.
• Liaise with external service providers for product and technology review, coordinating vendor presentations where relevant.
• Create and maintain technical topology diagrams relating to deployed AV, VC and DS architectures.
• Provide input into the development of AV, VC and DS policies and standards in accordance with corporate governance standards, including the SARB’s policies and procedures.
• Execute management requests to address or mitigate risks in the AV, VC and DS environment as identified by the internal or external auditors and other governance-related assessments.
• Develop and enhance disaster/business continuity procedures on deployed AV, VC and DS infrastructure solutions and assist in exercising those procedures.

Job requirements

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

• an NQF 5 qualification; and
• a minimum of two to five years’ experience in implementing, configuring and supporting end-to-end AV, VC and DS infrastructure in a corporate environment.

The following would be an added advantage:

• Microsoft 365 Certified: Teams Administrator Associate.

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Detailed description

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

• Participate in targeted on-site inspections at banks and branches of foreign banks domiciled in South Africa, to test banks’ compliance with the provisions of the FIC Act with regard to anti-money laundering and combating the financing of terrorism (AML/CFT). 
• Lead inspections targeted at banks and insurers when requested to- assessing compliance with the FIC Act
• Analyse and interpret data from banks and insurers.
• Drafting and review of documentation- supervisory, correspondence, presentations etc.
• Assist in projects, which enhance effectiveness and drive efficiency.
• Assist in bank and life insurance licensing applications that are considered by the AML team.
• Maintain assignment records. 
• Attend meetings with respective stakeholders as and when required.
• Provide input 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.
• Attend to off-site supervision and correspondence related to AML/CFT within the banking and insurance industry.

Job requirements

To be considered for this position, candidates must have:

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

The following would be an added advantage:

• knowledge of the provisions of the FIC Act;
• knowledge of international standards relating to AML/CFT (i.e. the Financial Action Task Force 40 Recommendations and the Basel Core Principles and Guidelines); and
• knowledge of the Banks Act and the Regulations relating to Banks.

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Detailed description

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

• Conduct research as well as identify new and emerging ML risks (threats, vulnerabilities and consequences), trends, including those in jurisdictions where SA banks have international operations (information must feed into the risk returns and inform the frequency of supervision); 
• Ensure that the PA is adopting international best practice in terms evidencing understanding of ML risk, reflective in the ML/TF risk assessments.
• Maintain and continually enhance the life insurance and banking risk based tools;
• Provide training and briefings on ML risk related matters, draft guidance as may be required, and provide input into pertinent documentation for relevant stakeholders;
• Ensure that the onsite inspections scoping adequately take into account the ML risks relevant to the respective supervised institutions;
• Develop, implement and maintain an automated sector risk assessment process whereby data is received via institutions and update the sector risk assessment methodologies utilised and conduct sector risk assessments;
• Ensure that banking and life insurance sector risk reports are issued to the public and ensure that stakeholder engagement sessions take place in this regard;
• Analyse the risk returns received from institutions and ensure the information is being correctly fed into the risk-based tool, and that the tool is updated as and when required when new information is received;
• Update inspection procedures with relevant questions pertaining to ML risk mitigation and control assessment and ensure that best practice and supervisory practices are adequately captured in the supervisory manual or risk assessment tools adopted;
• Compile statistics useful for ML sector risk assessments;
• Provide inputs to the national risk assessments and to contribute to the work of the national risk assessment committee; and
• Ensure that ML/TF/PF risk assessments are conducted periodically for the banking and life insurance sector, with inputs from the PF/TF analyst.

Job requirements

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

• A Postgraduate qualification (NQF 8) in the fields analytics, law, data science, commercial law, audit, international relations, international security, international law or other fields related to financial crime risk is required;
• five to eight years experience in financial crime control within a bank, audit or consulting firm.

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Detailed description

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

• Act as the custodian of all CPDs. 
• Develop, maintain and distribute standards, guidelines and regulations associated with CPDs. 
• Manage internal and external stakeholder relationships, and ensure information flow for the identification and resolution of queries and/or compliance matters. 
• Process, review and seek approval for all suppliers’ applications for CPDs. 
• Monitor the compliance of CPDs to standards, guidelines and regulations.
• Maintain a database of approved CPDs, users and suppliers. 
• Research and analyse trends related to CPDs, and understand and adapt to changes and/or developments in the South African cash industry. 
• Guide and support dye-stained note processing with regard to industry claims. 

Qualifications

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

• a Bachelor’s Degree (NQF 7) in Engineering (Mechanical, Chemistry and/or Chemical) or an equivalent qualification; and
• three to five years’ relevant experience in currency management or equivalent experience.

The following would be an added advantage:

• an understanding of currency management and central banking.