Financial Markets Specialist - FMD

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.

Detailed description

The successful candidate will be responsible for, among other things, the following key performance areas:

• Stay abreast of financial market developments, in particular money markets, and provide accurate market information, commentary and recommendations on a regular basis. (This will require a good understanding of the SARB’s money market operations and other money market instruments.)

• Conduct high-quality quantitative and qualitative research, analysis and interpretation of the domestic and international financial markets in support of the formulation and implementation of monetary policy as well as for financial stability purposes.

• Contribute to the preparation and delivery of high-quality presentations to senior forums of the SARB, including the Monetary Policy Committee (MPC) and the Financial Stability Committee (FSC).

• Write and contribute to keynote speeches and briefing notes for the senior executives of SARB.

• Produce market reports and feedback to provide management information and market intelligence.

• Participate in internal and external committees and make presentations at meetings.

• Build and maintain relationships with stakeholders such as, but not limited to, the banking and asset management sector, for the purpose of gathering market intelligence.

• Ensure that the methodologies applied in areas of specialisation comply with local and international standards and reflect best practices internationally.

• Recommend improvements in methodologies (where necessary).

• Provide secretariat services to Financial Market Department committees, which include external participants.

• Participate in and provide inputs into divisional strategy formulation sessions.

• Coordinate and collaborate with various internal departments as and when appropriate.

Job requirements

To be considered for this position, candidates must have:

• an Honours degree (NQF8) in Economics or Finance, or an equivalent combination of education and job-related experience;

• five to eight years of work experience in a specialist role in the area of market analysis; and

• knowledge of domestic and international financial markets, especially money markets.

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.