(619) Bank Analyst-BISD
Pretoria, South Africa
JOB DESCRIPTION
Brief description
The purpose of this position is to perform prudential oversight on designated registered banking entities through a combination of on-site and off-site monitoring, analyses and supervision, thereby contributing to the financial and governance soundness of financial institutions.
Detailed description
The successful candidate will be responsible for the following key performance areas:
- Assess and understand the strategy and business model of the bank.
- Analyse and form a supervisory view of the risks facing the bank and the impact thereof on its risk profile.
- Analyse and assess the adequacy and appropriateness of business and risk management practices applied by the bank and compare it against industry best practices.
- Analyse and assess the evolving economic and operating environment and the impact thereof on the bank’s risk profile.
- Identify and monitor emerging risks to the banking sector in general and the bank in particular.
- Assess compliance with the Banks Act 94 of 1990, Co-operative Banks Act 40 of 2007, Mutual Banks Act 124 of 1993 and the Regulations relating to Banks.
- Prepare detailed reports based on the outcome of the analysis performed.
- Prepare detailed formal feedback to banks following on-site reviews and meetings held with banks’ management, executives and board members.
- Plan, arrange, prepare for and conduct meetings.
- Present the outcome of ongoing analyses and supervisory assessments to representatives of the bank.
- Maintain permanent electronic records in respect of the bank.
- Undertake ad hoc projects as assigned by management.
- Undertake frequent, often high-level liaison with the bank and other interest groups, such as the external auditors of the bank.
QUALIFICATIONS
Job requirements
To be considered for this position, candidates must have:
- a Postgraduate qualification (NQF 8) in Commerce, Economics, Finance, Compliance Management, Risk Management, or Accounting;
- five to eight years’ experience in the banking sector, finance sector, regulatory sector, or risk management environment; and
- a chartered accountant CA(SA) or Associate General Accountant AGA (SA) qualification would be an added advantage.
Additional requirements include:
- knowledge and understanding of:
- financial reporting standards;
- business protocol;
- business models applied by banks and the financial and operating environment of banks;
- relevant risk management standards and practices;
- legislation relating to banks;
- the banking system, financial and banking products, regulations and risk models;
- the Basel Committee on Banking Supervision’s (BCBS) capital framework and the Basel Core Principles at a theoretical level;
- prudential supervision and the supervisory framework applied in South Africa; and
- key issues facing banks;
- skills in analysing the business of banks;
- innovative problem-solving skills;
- strong analytical, verbal and writing skills and proficiency in verbal and written communication; and
- good interpersonal skills.
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 US
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.