Brief description
The purpose of this position is to lead qualitative and quantitative assessments of existing and emerging risks and vulnerabilities in both the domestic and global macroeconomic environments, as well as in financial markets.
Detailed description
The successful candidate will be responsible for the following key performance areas:
- Conduct detailed research and analyses on possible financial stability risks in the domestic and global macroeconomic environments, and in financial markets in order to provide technically accurate reports and policy recommendations, and demonstrate the ability to defend findings at the Financial Stability Committee (FSC).
- Apply international best practice to identify and develop tools for the measurement of systemic risks in the financial system.
- Contribute to research for the Financial Stability Review (FSR), coordinate the drafting of sections and quality assure sections of the publication.
- Stay abreast with emerging cyber technology developments, such as the use of artificial intelligence, that could lead to the build-up of financial stability risks, and provide assessments of the impact thereof on the stability of the South African financial system.
- Deliver work independently and determine deliverables from a range of prescheduled and ad hoc team responsibilities.
- Validate data (including data for submission to external parties, publications and presentations) and ensure the reconciliation thereof with historical trends and all related economic data.
- Quality assure and integrate the analysis and reports of junior macroprudential specialists.
- Make presentations on financial stability to senior management and various committees of the South African Reserve Bank (SARB) as well as to external stakeholders.
- Apply emerging knowledge in own field of expertise and mentor junior staff.
- Use networking effectively to build relationships with both internal and external stakeholders.
- Represent the SARB in regional and international forums.
Job requirements
To be considered for this position, candidates must:
- have a minimum of an Honours degree in Economics, Finance, Econometrics or an equivalent qualification;
- have a minimum of 8-10 years’ job-related experience with a strong background in macroeconomics and/or financial markets;
- be proficient in the use of quantitative methods of analysis; and
- have knowledge of macroprudential theory and policies.
Additional requirements include:
- knowledge of the South African financial system and the regulatory environment;
- economic and/or financial market research knowledge and skills;
- proven facilitation and presentation skills;
- experience in project and risk management;
- excellent interpersonal, verbal and written communication skills; and
- proficient in the use of Microsoft (MS) Office products such as MS Word, Excel and PowerPoint.
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.
About SARB
Primary mandate of the SARB
Section 224 of the Constitution of South Africa states the mandate of the SARB as follows:
The primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic.
The South African Reserve Bank, in support of its primary objective, must perform its functions independently and without fear, favour or prejudice.
WHAT WE DO
Monetary Policy
The Constitution gives the SARB the mandate to protect the value of the rand. We use interest rates to keep inflation low and steady.
Financial Stability
The SARB has a mandate to protect and enhance financial stability. We identify and mitigate systemic risks that might disrupt the financial system.
Prudential Regulation
The Prudential Authority regulates financial institutions and market infrastructures to promote and enhance their safety and soundness, and support financial stability.
Financial Markets
Open market operations are the main tool we use to implement monetary policy. We manage South Africa’s gold and foreign exchange reserves.
Financial Surveillance
The SARB is responsible for regulating cross-border transactions, preventing the abuse of the financial system and supporting the regulation of financial institutions.
Payments and Settlements
The SARB is responsible for ensuring the safety and soundness of the national payment system, which is the backbone of South Africa’s modern financial system.
Statistics
The SARB provides important economic and financial statistics that present an overview of the economic situation in South Africa.
Research
Research conducted by the SARB focuses on economics, financial stability, banking and emerging trends in finance. Our research supports policy decision-making.
Banknotes and Coin
The SARB has the sole right to make, issue and destroy banknotes and coin in South Africa.