(446) Senior Financial Markets Specialist - FMD

Detailed description

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

• Research, develop and maintain advanced analytics related to interest rate and foreign exchange markets. 
• Conduct research on various aspects relating to financial benchmarks and reference rate reforms.
• Provide thought leadership and contribute to position papers, presentations, speeches and other documentation prepared by the SARB Working Group, Market Practitioners Group (MPG) and other relevant bodies.
• Contribute to the formulation and execution of strategic initiatives of the unit and the Financial Markets Department.
• Lead the development and periodic review of interest rate benchmarks and the implementation of solutions for various calculation methodologies.
• Establish relevant data sources and lead the implementation of appropriate data collection models to enable the production of analytics.
• Oversee the benchmark determination process and enhance operating procedures and the control framework for benchmark administration.
• Collaborate with other financial market specialists, business analysts, data management specialists, integration specialists and software developers to design and implement infrastructure solutions.
• Prepare periodic operational reports to enable lead specialists, senior management and the Reference Rate Oversight Committee to exercise their oversight function on all aspects of benchmark administration.
• Leverage data and analytics to prepare reports aimed at enhancing the transparency of various segments of interest rate and foreign exchange markets.
• Build and maintain relationships with reporting institutions, market infrastructure providers, industry bodies and other relevant stakeholders.
• Contribute to the learning and development of junior specialists.
• Assist with committee administration. 
• Contribute to process improvement.
• Perform ad hoc tasks.

Job requirements 

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

• an Honours degree (NQF8) in Economics, Finance, Statistics, Data Science or an equivalent combination of education and job-related experience; and 
• at least 8 to 10 years’ work experience in financial markets. 

The following will be an added advantage:

• knowledge of financial markets products and the pricing thereof;
• knowledge of quantitative finance;
• proficient in Microsoft Office, R and/or Python; and
• proficient in data analysis. 

Additional requirements include:

• analytical and conceptual thinking abilities;
• written and verbal communication skills; 
• availability to work irregular hours on an ad hoc basis; 
• report writing skills;
• planning and organising skills;
• interpersonal skills; and
• being a team player.

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.