Associate Economic Statistician

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:

• Collect, process, validate, quality-assure, analyse and disseminate monetary and credit statistics in accordance with divisional timelines.

• Compile and contribute to statistical releases, website publications, internal publications and the Quarterly Bulletin.

• Validate the source data received from reporting institutions, including through outlier investigations as well as data mapping and reconciliation processes.

• Apply monetary and financial statistics methodologies and relevant international statistical standards, including the Monetary and Financial Statistics Manual and Compilation Guide of the International Monetary Fund (IMF).

• Support methodological reporting, classification reviews and technical guidance related to monetary and credit aggregates as well as related macroeconomic statistics.

• Participate in projects and initiatives related to the compilation of monetary and credit statistics, including process improvements, system enhancements, data-structure reviews and implementation support.

• Use open-source software and related analytical tools to improve the collection, processing, visualisation and analysis of monetary and credit statistics, including reproducible workflows, dashboards, analytical outputs and supporting documentation.

• Contribute to the quarterly Integrated Economic Accounts and related departmental initiatives through data sourcing, validation and quality assurance.

• Support the seasonal adjustment processes for monetary statistics, including reviewing and updating the seasonally adjusted monetary time series.

• Contribute to the G20 Data Gaps Initiative recommendations that are relevant to monetary and credit statistics, including emerging data needs, potential new data sources, methodological alignment and stakeholder engagement.

• Prepare and deliver briefings, presentations and technical inputs for senior management, internal forums and external stakeholder engagements, including engagements with reporting institutions and industry forums.

• Provide clear, professional and technically sound responses to internal and external data queries, and escalate complex methodological, classification or reporting matters where appropriate.

• Keep abreast of relevant methodological changes, market developments, reporting requirements and international best practice, and assess their implications for monetary and credit compilation.

• Analyse data using business intelligence tools to identify trends and present analytical findings in written reports, including graphs and the Quarterly Bulletin tables.

• Assist with presentations as well as general administrative and ad hoc tasks required by the division.

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

• at least an Honours degree (NQF level 8) in Economics or Statistics, preferably with modules on Accounting, Data Science or Finance; and

• at least 2–5 years of relevant experience in monetary and financial statistics, banking-sector data, macroeconomic statistics, regulatory reporting, economic analysis, financial economics, accounting or a related statistical compilation environment.

The following would be an added advantage:

• the ability to program in R and/or Python.

Additional requirements include:

• an affinity for statistics compilation and economic analysis, with a strong interest in applying statistical principles to real-world economic data;

• a proven track record in conducting and delivering high-quality economic analyses;

• proficiency in the use of Microsoft Office products such as Microsoft Word, Excel and PowerPoint, including the ability to use tools (functions and formulas) to organise, analyse and adjust data;

• knowledge and insight regarding international statistical manuals and best practice, for example the IMF’s Monetary and Financial Statistics Manual and Compilation Guide;

• basic knowledge and understanding of the generic statistical business process model;

• a task-oriented approach, with excellent time management skills to thrive in a deadline-driven environment where work often requires managing pressure while maintaining quality;

• the ability to work independently as well as within a team/project environment;

• strong report-writing skills;

• the ability to present complex statistical data and analyses clearly and concisely;

• taking initiative;

• problem-solving skills;

• excellent communication and interpersonal skills;

• analytical skills; and

• keen attention to detail.