The successful candidate will be responsible for the following key performance areas:
- Exercise supervisory oversight of designated mutual banks, co-operative banks and co-operative financial institutions (CFIs).
- Analyse and assess the strategies and business models as well as business portfolios of CFIs.
- Analyse and form a supervisory view of the risks banks are facing and the impact thereof on their risk profiles.
- Analyse and assess the adequacy and appropriateness of business and risk management practices applied by banks as well as the alignment thereof with industry best practices.
- Analyse and assess the evolving economic and operating environment and the impact thereof on CFIs’ risk profiles.
- Identify and monitor emerging risks and the potential impact thereof on the co-operative banking sector and CFIs, in particular.
- Develop and apply analytical methods to analyse and interpret risk-based regulatory data submissions.
- Assess compliance with the Banks Act 94 of 1990 (Banks Act), the Financial Sector Regulation Act 9 of 2017 (FSR Act), the Mutual Banks Act 124 of 1993 (Mutual Banks Act), the Co-operative Banks Act 40 of 2007 (CBA), the Co-operatives Act 14 of 2005 and Prudential Standard TCFI-01.
- Prepare detailed reports based on the outcome of analyses performed.
- Plan, arrange, prepare for and conduct on-site reviews and prudential meetings with banks’ management, executives, boards and board subcommittees.
- Prepare detailed formal feedback to banks following on-site reviews and prudential meetings held with banks’ management, executives, boards and board subcommittees.
- Present the outcome of ongoing analysis and supervisory assessments to senior management of the Prudential Authority and representatives of CFIs.
- Maintain permanent electronic records in respect of banks.
- Manage correspondence pertaining to CFIs.
- Undertake ad hoc projects as assigned by management.
Qualifications
Job requirements
To be considered for this position, candidates must be in possession of:
- a postgraduate degree (NQF 8) in Accounting, Banking, Economics, Finance, Risk Management or a relevant equivalent qualification; and
- up to two years’ relevant working experience in a regulatory environment or the financial sector.
Additional requirements include:
- being innovative and accountable;
- possessing problem-solving and analytical skills;
- displaying financial and business acumen;
- paying attention to detail;
- having excellent verbal and written communication skills and proficiency in verbal and written communication;
- being able to effectively and efficiently manage time;
- having proven ability to influence, build and maintain relationships;
- having a good working knowledge of the Microsoft Office suite (Word, Excel and PowerPoint) and other related software packages;
- being conversant in the CBA, FSR Act and related standards and regulations;
- having knowledge of prudential supervision and the supervisory framework applied in South Africa;
- having knowledge of basic risk management standards and practices applied by banks and banking groups;
- understanding key issues and risks banks and banking groups face;
- possessing an in-depth knowledge of the business of banks;
- understanding the business models applied by and the financial and operating environment of banks; and
- knowing and understanding corporate governance and risk management best practices and standards.
