Brief description
The purpose of this position is to develop and refine supervisory frameworks through the scanning of the regulatory and supervisory framework environment against domestic policy and international best practices and standards to ensure the effective and consistent supervision of the Prudential Authority (PA)-regulated financial institutions.
Detailed description
The successful candidate will be responsible for the following key performance areas:
- Conduct research relating to the latest changes in the regulatory frameworks within the PA-regulated financial sectors and conduct in-depth assessments on whether these frameworks are applicable to the PA supervisory framework.
- Develop new and refine existing PA supervisory guidelines in line with the PA regulatory framework and international supervisory best practices.
- Apply analytical tools for assessing the consistency and efficiency of the PA’s supervisory practices.
- Assist in planning, defining the scope and objectives of the quality assurance reviews and setting up of the quality assurance programme to address objectives.
- Execute the quality assurance programmes, including evaluating the results of quality assurance reviews and preparing recommendations.
- Assist with planning the annual environmental scanning/benchmarking projects for the team based on the changes to the local and international regulatory and supervisory frameworks and best practices.
- Engage with and present to PA stakeholders on the draft supervisory frameworks and guidelines, quality assurance reviews and other related documents.
- Contribute towards the continuous improvement process within the PA supervisory framework team.
- Provide input into the development and implementation of the PA regulatory framework.
- Assist the team with other functions, as may be required from time to time, in line with the PA strategic and operational objectives.
Job requirements
To be considered for this position, candidates must be in possession of:
- a minimum of a Bachelor’s degree in the fields of Commerce, Compliance, Law or an equivalent qualification; and
- a minimum of five years’ experience in internal auditing, compliance, regulation, supervision, risk management or quality assurance.
Additional requirements include:
- regulatory and supervisory awareness;
- quality assurance;
- continuous improvement;
- data analysis and management information reporting;
- coaching skills;
- presentation and interpersonal skills;
- conceptual thinking;
- planning and organising skills;
- effective communication skills;
- developing and maintaining relationships;
- analytical and problem-solving skills;
- resilience;
- service and stakeholder focus;
- teamwork; and
- judgement and decision-making skills
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.
