About this role
The main purpose of this position is to process exchange control (excon) applications and monitor compliance with the Currency and Exchanges Manual for Authorised Dealers as well as the Exchange Control Regulations to regulate cross-border transactions and ensure the efficient management of foreign exchange.
Detailed description
The successful candidate will be responsible for the following key performance areas:
- Analyse, process and finalise basic applications for approval, ensuring that the work meets the required time and quality standards.
- Assist in the planning of inspections and provide written reports on inspection findings for approval.
- Support daily administration tasks, including record-keeping, schedule compilation and inspection-profiling to enhance operational efficiency within the division and own work.
- Capture data and provide management with information to aid decision-making.
- Perform duties with minimal supervision, adhering to established practices, processes, rules and regulations, and ensuring compliance with standards, policies and other guidelines specific to the area of expertise.
- Communicate effectively with relevant internal stakeholders, demonstrating an ability to clearly explain information.
- Participate in ad hoc projects and compile the information to inform policy decisions.
- Stay informed about developments in the functional area and ensure self and others comply with changes (e.g. changes to excon policies, rules and regulations).
- Identify problems and adapt routines to address them, demonstrating the ability to provide solutions within a defined context.
To be considered for this position, candidates must have:
- a Diploma in Finance or an equivalent NQF 6 qualification; and
- two to five years’ work experience in the excon and/or banking environment.
Additional requirements include:
-
knowledge and skills in:
-industry, organisational and business awareness;
-risk and compliance assessment;
-risk and compliance monitoring and reporting; and
-business continuity planning;
- competence in Microsoft Office software packages (e.g. Excel, Word, PowerPoint);
- proficiency in verbal and written communication (including presentation and report-writing skills);
- a drive for results;
- analysing and problem-solving;
- learning focus;
- ability to work in a team; and
- service and stakeholder focus.
In line with the SARB’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply.
The SARB offers remuneration and benefits commensurate with the level of the position and in line with the market. The level at which the successful applicant will be appointed will depend on his/her competence and experience.
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.