Brief description

The main purpose of this position is to perform prudential oversight of designated registered Mutual Banks, Co-operative Banks and Co-operative Financial Institutions (collectively referred to as banks), through a combination of off-site and on-site monitoring, analysis and supervision, thereby contributing to the soundness of governance and financial practices of such banking entities, and ultimately ensuring the safety and soundness of the financial sector.

Detailed description

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

• Conduct supervisory oversight of designated banks and participate in supervisory practices, including:
• analysing and assessing the strategies, business models and business portfolios of banks;
• analysing, monitoring and forming a view of risks (i.e. credit, liquidity, market, capital and operational risks) that banks are exposed to and the impact thereof on their risk profiles;
• plan, arrange, prepare for, and conduct meetings;
• assessing compliance with the Mutual Banks Act 124 of 1993, Regulations relating to Mutual Banks, Co-Operative Banks Act, Regulations relating to Co-Operative Banks and the Financial Sector Regulation Act 9 of 2017 (FSR Act), including compliance with all prudential and regulatory requirements;
• analysing and assessing the evolving economic and operating environment and the impact thereof on banks’ risk profiles;
• analysing and interpreting financial and risk information, including risk-based regulatory data submissions and the alignment thereof with industry best practices;
• contributing to and participate in risk-based meetings with banks and their auditors; and
• preparing detailed reports based on the outcome of the analysis performed.
• Review, analyse and evaluate the banks’ risk management processes, including its capital management.
• Review and evaluate financial entities’ recovery plans.
• Analyse and interpret regulatory returns for regulated entities.
• Conduct research and provide input into the regulatory framework (e.g. Mutual Banks Act 124 of 1993, Regulations relating to Banks, Co-Operative Banks Act, Regulations relating to Co-Operative Banks etc), in line with international best practices.
• Interpret and develop amendments to the legislative framework, based on international best practices.
• Develop and implement the supervisory review and evaluation process, in line with international best practices.
• Manage correspondence and maintain electronic records in line with operational standards.
• Contribute towards the attainment of departmental strategic objectives.
• Contribute towards the attainment of operational objectives.
• Undertake ad hoc projects as assigned by management.

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

• a postgraduate qualification (NQF 8) in Accounting, Banking, Commerce, Economics, Finance or Risk Management; and
• at least two to five years’ experience in the banking sector, finance sector, regulatory sector or risk management environment.

Additional requirements include:

• an in-depth knowledge and understanding of regulatory frameworks and international standards, such as the Basel Committee on Banking Supervision’s (BCBS) Core Principles for Effective Banking Supervision;
• being conversant with the Mutual Banks Act 124 of 1993, Co-Operative Banks Act, Financial Sector Regulation Act 9 of 2017 and related standards and regulations;
• knowledge of prudential supervision and the supervisory framework applied in South Africa;
• knowledge of basic risk management standards and practices applied by banks and banking groups;
• an understanding of key issues and risks faced by banks and banking groups;
• an in-depth knowledge of the business of banks;
• an understanding of the business models applied by, and the financial and operating environment of, banks; and
• knowledge and understanding of corporate governance and risk management best practices and standards.

Job-related skills and attributes include:

• problem-solving and analytical skills;
• proven facilitation and presentation skills;
• strong interpersonal skills and the ability to build and maintain relationships;
• excellent verbal and written communication skills;
• the ability to manage time effectively and efficiently; and
• proficiency in the use of Microsoft (MS) Office products such as MS Word, Excel and PowerPoint and other related software packages.