Brief description
The main purpose of this position is to investigate, under limited supervision of a more senior investigator, alleged contraventions of the provisions 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 legislation against Authorised Dealers and Authorised Dealers in foreign exchange with limited authority.
Detailed description
The successful candidate will be responsible for the following key performance areas:
- Investigate, with limited supervision, basic, intermediate and complex matters involving alleged contraventions of the provisions of the Regulations, 419 fraud schemes and anti-money laundering enforcement investigations.
- Recoup, recover or regularise all 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 in terms of the provisions of the Regulations.
- Administer the collection, preservation and distribution of money and/or goods seized through 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 a signing officer or manager.
- Assist, under supervision, legal practitioners with litigation.
- Engage with internal and external stakeholders by providing clear and timely assistance and support, listening to and accommodating stakeholder needs.
- Stay current with developments, policies, procedures and legislation, and apply any relevant changes to own work.
- Record all relevant information and correspondence regarding allocated investigations and provide investigative administrative support when required.
To be considered for this position, candidates must be in possession of:
- a Bachelor’s degree in Law, Commerce, Forensics (in the accounting or financial fields) or an equivalent NQF 7 qualification;
- two to five years’ experience in administrative, financial or related forensic investigations in the banking, financial and/or law enforcement environment; and
- knowledge of, and experience in, the Currency and Exchanges Act 9 of 1933, Exchange Control Regulations, Currency and Exchanges Manuals and other relevant legislation.
Additional requirements include:
- knowledge and skill in:
-conducting investigations;
-verbal and written communication (including presentation and report writing);
-analysis and problem-solving;
-judgement and decision-making;
-planning and organising;
-building and managing relationships;
- a service and stakeholder focus;
- a drive for results;
- competence in Microsoft Office packages (e.g. Excel, Word and PowerPoint);
- the ability to work under pressure;
- the ability to work in a team; and
- a valid driver’s license to allow traveling from time to time to perform duties away from the Head Office.
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.
