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South African Reserve Bank
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 main purpose of this position is to perform the accounting function and provide a consolidated overview of the South African Reserve Bank’s (SARB) budget to ensure accurate and timely financial and management reporting.
Detailed description
The successful candidate will be responsible for the following key performance areas:
Plan and facilitate the delivery of section-specific outputs, ensuring quality and the optimal use of section resources.
Perform the accounting function in accordance with SARB policies, relevant accounting standards, cost accounting principles and legislation.
Prepare monthly, quarterly and yearly financial reports on capital and operational expenditures for submission to the Governors' Executive Committee and other governance structures.
Coordinate, review, consolidate and report on the SARB’s operational and capital budgets to support effective financial management by the organisation.
Maintain the management information system to enable consistent and accurate reporting of relevant information to senior management.
Participate in internal and external stakeholder engagements, demonstrating the ability to solicit information and deliver a coherent and convincing message.
Assist the SARB departments in correctly applying International Financial Reporting Standards (IFRS), other financial accounting standards and best practices by providing ongoing guidance.
Assist the SARB departments in financially quantifying business cases and evaluating investment options.
Propose and implement refinements and continual improvements to systems, tools, controls, methods and processes in own area.
Stay current with developments in own functional area.
To be considered for this position, candidates must be in possession of:
at least three to five years’ experience in a finance business partnering role
The following would be an added advantage:
Additional requirements include:
knowledge and skill in:
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.