The successful candidate will be responsible for the following key performance areas:
Develop, maintain and embed SARB Group risk management frameworks, methodologies, processes and systems, as well as embed related policies.
Develop risk management quality criteria and perform quality reviews of risk management outcomes.
Identify, collate, analyse and report on emerging risks to the SARB Group.
Identify and coordinate risk management training needs and conduct related training.
Facilitate strategic risk management processes in the SARB Group, in accordance with the SARB Group Risk Management Framework.
Compile and coordinate reporting on risk management outcomes and activities to the SARB Group executives and risk oversight committees.
Develop the bank-wide risk overarching plan, and coordinate and embed operational risk and continuous risk management across the SARB Group, including key risk indicators (KRIs), risk incidents and emerging risks.
Develop risk awareness campaigns to educate stakeholders, influence behaviour and promote a positive and proactive risk management culture across the SARB Group.
Analyse risk data and information from the various risk registers to identify trends, interconnectedness, polycrisis factors and commonalities; produce qualitative risk reporting; and derive reliable business intelligence and insights for management to enable decision-making.
Engage with stakeholders to provide information and support on risk management matters.
Research and benchmark leading risk management processes and developments and propose improvements accordingly.
Analyse and understand the SARB Group’s internal and external environment to support and guide the identification of risks and opportunities, and to enable decision-making.
Provide input into other specialised risk management processes, including policies, methodologies and frameworks related to financial risk management, cyber and information security, privacy, physical security, and strategic and operational resilience.
Manage the implementation of the Risk Management and Compliance Department’s (RMCD) strategic and operational risk treatment action plans and report on their progress and impact on risks.
Oversee the integration between RMCD and other specialised risk areas.
To be considered for this position, candidates must have:
at least an Honours Degree in either risk management or auditing, or an equivalent NQF level-8 degree;
a minimum of eight to10 years’ experience in a relevant environment, such as audit, information technology (IT) and risk; and
advantages would include:
professional certifications such as Chartered Accountant (South Africa) (CA(SA)), Certified Internal Auditor (CIA), Certified Risk Manager (CRM), Financial Risk Manager Professional (FRMP), C-RISK or Certified Information Systems Auditor (CISA); and
practical experience in assessing IT application risks.
Requirements related to knowledge, skills and attributes include:
industry, organisational and business awareness;
quality assurance;
continuous improvement;
continued learning and/or professional development;
risk management principles, tools, methodologies, frameworks, policies and processes;
risk management strategy and planning;
risk identification, analysis and assessment;
risk mitigation and management;
risk monitoring and reporting;
project management;
risk management;
operational resilience; and
basic cyber security and IT.
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.