Jobs at South African Reserve Bank (Now Hiring) — 28 open — Page 2

Detailed description

The successful candidate will be responsible, but not limited to, the following key performance areas:

• Support the ongoing development and implementation of formalised risk management processes.

• Manage regulatory requirements and compliance monitoring frameworks for investment products.

• Perform pre-trade analysis, interpret investment guidelines, and code restrictions into trading systems.

• Monitor adherence to investment guidelines, regulatory requirements, policies and internal controls, and escalate non‑compliance where required.

• Support compliance management, legal obligations, and governance tracking for domestic and international entities. 

• Prepare accurate, reliable and insightful risk and compliance reports for management and relevant governance forums.

• Analyse risk trends, incidents and control effectiveness, and contribute to actionable risk insights and recommendations.

• Conduct research on regulatory developments, industry practices and emerging risks relevant to financial markets. 

• Preparation of briefings and presentations for internal and external stakeholders.

• Assist in the design and delivery of compliance and operational risk training and awareness programmes. 

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.

Financial Markets Department (FMD)

Functions

In the execution of its mission, the Department has the following responsibilities: 

• Implementing monetary policy decisions of the MPC.  This entails influencing short-term money market rates to be consistent with the repo rate set by the MPC.  This is done by creating a liquidity shortage in the money market which the banks have to refinance from the Bank, at the repo rate, or other penalty rates as applicable, through repurchase transactions.  Liquidity management also includes the usage of other open-market operations such as reverse repurchase transactions, SARB debentures, foreign exchange swaps, movement of public sector funds between the Bank, and the market and facilities such as the averaging of cash reserves. 
• Participating in the spot and forward foreign exchange markets to service the foreign exchange needs of the Bank and its clients. 
• Acting as a funding agent of the Government by conducting bond and Treasury Bill auctions, participating in the formulation of debt management strategies and conducting surveillance over primary dealers in the government bond market. 
• Managing the investment portfolio of the Corporation for Public Deposits (CPD). 
• Promoting the effective functioning of the domestic financial markets and contributing to the Bank's financial stability mandate through effective market monitoring and ensuring the Bank's activities in the markets support financial stability. 
• Managing the country's official gold and foreign exchange reserves. 
• Managing relationships with domestic and foreign counterparties covering both trading and settlements. 
• Providing custody and settlement services to the government and relevant counterparty banks. 
• Managing risks inherent in the management of gold and foreign exchange reserves, all market operations conducted by the department, as well as all functions conducted on behalf of Government by the FMD. 
• Performing an accounting function for all transactions conducted by the Department in the domestic and foreign exchange market as well as transactions related to its foreign reserves management functions in terms of the Reserve Bank Act and in alignment with the International Financial Reporting Standards (IFRS). 
• Providing market information and analyses to assist various Bank Committees and the GEC in their decision-making processes.

Fostering relations with market participants and other stakeholders, in order to improve the Bank's understanding of market developments and to promote the image.