Jobs at South African Reserve Bank (Now Hiring) — 30 open

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

• Contribute to the development and execution of the department and NPS strategy (e.g.  NPS Vision).

• Draft, issue and/or amend policy and regulatory documents (e.g. standards, directives, policy papers, consultation papers, explanatory memos, notices and guidance notes). 

• Review and provide input to other legislation, standards and reports derived from international standard setting bodies, regional and domestic regulatory authorities.

• Review and approve the entry, participation and exit criteria of operators and schemes including amendments

• Provide input into the requests from operators of payment, clearing, or settlement system to operate in another jurisdiction and provide recommendations .

• Review internal and external comments received from stakeholders on policy and regulatory instruments. 

• Contribute to the process of developing Anti-Money Laundering (AML)/ Combating the Financing of Terrorism (CFT) and Combating the Financing of Proliferation (CFP) strategy, policies and regulatory framework.

• Coordinate and administer policy and regulation dialogues and to assist in the establishment and operationalisation of necessary committees .

• Monitor and identify payments policy, regulatory and legislative developments, both internationally and domestically 

• Provide input to NPS and other relevant policy, regulatory, licensing, supervisory and oversight frameworks.

• Conduct research to keep abreast of policy, regulatory and risk-reduction developments and best practices.

• Ensure that the NPS regulatory framework complies with relevant international standards and practices.

• Provide guidance and input in new products, innovation and developments in the NPS. 

• Build relationships and engage with internal and external stakeholders.

• Draft surveys in order to obtain inputs and feedback from stakeholders on payments policy and regulatory matters and consolidate inputs received.

• Generate and share knowledge with internal and external stakeholders and contribute to training, capacity building and education of stakeholders, including consumers.

• Represent the Bank and PRD and contribute in industry and stakeholder meetings, and/or on international, domestic, regional and standard setting bodies, committees, structures, forums etc. 

• Collect and analyse data impacting the policy and regulatory environment and the development of policy and regulations

• Assist with identifying, assessing and mitigating risks within the Policy and Regulation division. 

• Contribute to projects and attend to ad hoc tasks and responsibilities as per requirements.

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.

The National Payment System (NPS) comprises of the entire payment process including all the tools, systems, mechanisms, institutions, agreements, procedures, rules or laws applied or utilised to effect payment. The NPS therefore facilitates the circulation of money, that is, it enables transacting parties to exchange value.

Participants within the NPS provide the payment mechanisms/instruments and infrastructure to enable the participants and their clients to effect payments. These instruments can be credit cards, cheques, and electronic funds transfers (EFTs), such as debit and credit orders for example. The generation of financial transactions arising from the use of these instruments result in interbank payment and settlement obligations.  

Central banks have always played an important role in countries' national payment systems. Where payments result in interbank obligations, central banks normally provide the interbank settlement facilities.