(1898) Head of Department: Policy, Statistics and Industry Support
Job description
The successful candidate will be responsible for the following key performance areas:
- Providing strategic direction and leadership to the Policy, Statistics and Industry Support Department (PSISD) and the coordination of efficient and effective planning, budgeting, resourcing, organising, governance, control and risk management and operations.
- Overseeing the development and implementation of prudential regulatory and supervisory policies and standards to enable the Prudential Authority to fulfil its mandate.
- Active participation in internal policy formulation structures including but not limited to; the Prudential Committee and the Financial Stability Committee.
- Ensuring the collection, analysis and dissemination of accurate and relevant industry data, statistics and information to internal and external stakeholders, on current and emerging risk issues including industry reporting.
- Establishing the framework for consistent enforcement of regulations across the industry and to develop a resolution framework of non-significant financial institutions regulated by the Prudential Authority (PA).
- Overseeing the implementation of major projects in the regulatory environment which includes regulatory reforms such as the Basel III capital framework and the Solvency and Assessment and Management (SAM), international peer reviews such as Financial Sector Assessment programme and the Regulatory Capital Assessment Programme (RCAP).
- Formulation, implementation and monitoring of a strategy for engagement with the Basel Committee for Bank Supervision, and the International Association of Insurance Supervisors and other regional bodies in order to enhance and influence the international banking and insurance regulatory and supervisory frameworks and to advance the national interests of South African in those committees.
- Representing the Bank/Prudential Authority and South Africa in the Basel Committee and the International Association of Insurers and other regional bank and insurance regulatory bodies, and interacting locally with National Treasury, industry associations and Parliament where necessary.
- Managing the performance and development of direct reports, create a performance culture in the department, and promote and support career management and development.
Job requirements
To be considered for this position, candidates must be in possession of a
- A minimum of a post-graduate degree in Economics/Finance/Statistics/Accounting OR any other relevant qualification.
- A minimum of 12 to 15 years in prudential regulation or similar environment.
- A minimum of five (5) years in a senior managerial role managing multi-functional teams.
Job-related knowledge:
- General management and leadership in a changing organisation.
- Prudential regulation
- Development of policy frameworks
- Statistical and Industry analyses
- Enforcement and resolution
- Industry technical support
- Programme management
- Human resources policies and procedures
Job-related skills and attributes:
- Building strategic relationships and creative thought leadership
- Problem solving and analysis
- Verbal and written communication
- Presentation skills
- Liaison
- Quality orientation
- Integrity
- Confidentiality
Skills mentioned
The South African Reserve Bank (SARB) embarked on its journey on June 30, 1921, born out of the necessity to stabilize monetary and financial conditions in the aftermath of World War I. The Currency and Bank Act of August 10, 1920, laid the groundwork for its establishment, making it the oldest central bank in Africa and a pioneering institution outside of Europe and the United Kingdom at the time, alongside counterparts like the Federal Reserve and the Bank of Japan. The initial impetus for a central bank in South Africa can be traced back to discussions in 1879, but it was a parliamentary select committee in 1920 that solidified the national interest in such an entity. The SARB issued its first banknotes to the public on April 19, 1922, marking a significant step in its operational history. Unlike many central banks, the SARB was established as a privately owned institution, a characteristic it retains, making it one of a few such central banks globally. Its primary mandate, enshrined in the South African Constitution, is to protect the value of the currency in the interest of balanced and sustainable economic growth. Over the decades, its functions have evolved and expanded. Today, these include formulating and implementing monetary policy, issuing banknotes and coins, supervising the financial services sector (through the Prudential Authority), ensuring the effective functioning of the national payment system, managing official gold and foreign-exchange reserves, and acting as a banker to the government. The SARB also plays a crucial role in promoting financial stability and acts as a lender of last resort in exceptional circumstances. The bank's governance structure includes a board of directors, with the Governor and Deputy Governors appointed by the President of South Africa. Throughout its century of existence, the SARB has navigated various economic landscapes, adapting its policies and operations to meet the evolving needs of the South African economy, including the formal adoption of an inflation-targeting framework in February 2000.
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