Senior Resolution Planning Specialist

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 develop resolution strategies for systemically important financial institutions that fall within the scope of the resolution framework, as set out in the Financial Sector Regulation Act 9 of 2017, and to ensure execution readiness. The role also contributes to the resolution of non-systemic institutions and broader crisis preparedness. The responsibilities include designing and operationalising resolution policies, strategies and related processes in the interest of financial stability, in accordance with international standards.

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

• Develop and/or assist with the development and drafting of resolution-related policy, including regulatory instruments.

• Conduct research, analysis and benchmarking against international standards and best practices on complex resolution-related topics.

• Draft and/or assist with the drafting and maintenance of resolution plans.

• Engage with and make presentations to a broad range of stakeholders, internally, externally, locally and internationally, including coordinating cross-border matters.

• Assist with the operationalisation and execution readiness of South Africa’s resolution framework.

• Contribute to the broader work of the Resolution and Crisis Preparedness Division, including methodologies to measure the systemic significance of financial institutions, simulations to test the resolution framework and work relating to failing institutions.

• Keep abreast of international developments on resolution-related matters.

• Participate in, and contribute to, the activities of the resolution-related committees and their substructures.

• Assist with secretariat duties for specific resolution-related committees.

• Contribute to, and participate in, ad hoc testing of crisis management capabilities in the South African Reserve Bank (SARB) and in the financial sector.

• Contribute to other policy developments within the broader Financial Stability Department and any of the internal and external committees that it serves, including international committees.

• Contribute to work performed by the Prudential Authority relating to institutions that may be placed in resolution, such as liquidity simulations and recovery planning.

• Represent the SARB by participating in meetings with international organisations and committees relating to resolution and crisis management and respond to requests for information by such organisations and committees.

• Compile and draft high-quality reports and/or outputs on deliverables.

• Mentor junior specialists.

• Provide training to stakeholders on resolution-related matters.

To be considered for this position, candidates must have:

• an Honours degree in either finance, investment, law, economics, accounting or financial risk management; and

• eight years’ experience in either banking, structured finance, valuations, financial markets, central banking or corporate insolvency.

Additional requirements include:

• having the ability to:

• work effectively in a small and specialised team;

• work in an unstructured environment that requires flexibility and adaptability;

• contribute to and design new policies and processes;

• build networks; and

• enhance the general understanding of, and support for, the activities and responsibilities of the Resolution and Crisis Preparedness Division;

• having sound knowledge of:

• resolution tools and frameworks and applicable international standards; and

• relevant regulatory frameworks and international standards;

• proven facilitation and presentation skills;

• excellent interpersonal skills;

• excellent communication skills (verbal and written); and

• proficiency in the use of Microsoft (MS) Office products such as MS Word, Excel and PowerPoint.