Junior FMI Analyst

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

• Ensure that MIs comply with the Principles for Financial Market Infrastructures (PFMIs), minimum supervisory standards and the applicable legal framework.

• Conduct regular meetings with the Manager: MI Supervision and Divisional Head: MI Supervision to provide accurate management information, report on progress against operational objectives and ensure priorities are well coordinated.

• Perform administrative support to the MI Division, including preparing agendas and programmes, arranging meeting logistics, taking minutes and drafting follow-up letters to industry participants.

• Identify MI specific risks and ensure that such risks are adequately managed.

• Report on industry issues and trends and contribute to the Prudential Authority annual review.

• Perform ad hoc duties and participate in special projects as and when required.

To be considered for this position, candidates must be in possession of:

• an Honours (NQF8) degree in economics, Accounting, Risk Management, Legal, Compliance or an equivalent qualification; and

• two years’ experience in the financial sector supervision, regulatory or MI environment.

Job-related knowledge:

• FMI supervision, regulation and legislation;

• Economics;

• Accounting/financial statement fundamentals;

• financial markets and instruments;

• relevant policies and procedures;

• PFMI.

Additional requirements include:

• problem-solving and analysis;

• verbal and written communication skills;

• interpersonal skills

• sound judgement; and

• taking initiative.