Organization name: Policy, Statistics, and Industry Support Department

Department description: Prudential Authority

Brief description

• To provide leadership and strategic direction to the Industry Technical Support (ITS) Division in providing technical advice and/or support to frontline supervisors about the application and interpretation of prudential legislation and applicable standards, particularly in relation to regulatory capital, accounting and auditing standards. This includes analysis of industry data, other relevant guidance, and the assessment of various applications to promote the consistent treatment of all prudential matters across the industries that the Prudential Authority (PA) regulates and supervises, with the main goal of promoting safe and sound regulated financial institutions and contribute to financial stability of the South African financial sector. The role reports into the Head: Policy, Statistics, and Industry Support Department.

Detailed description

• Provide thought leadership and strategic direction for the work of the ITS Division, develop functional plans aligned to departmental strategy and clarify performance expectations for staff.
• Manage the delivery of work objectives through resource utilisation, setting of targets, prioritisation of work and performance of other activities including:
• Ensuring that the ITS Division delivers high-quality support and advice to the PA and relevant departments within the organisation the interpretation and application of the primary legislation, subordinated legislation and other relevant information that include but are not limited to directives, circulars, and guidance notes.
• Influencing and providing input to various PA governance structures on developments and amendments to prudential regulatory and supervisory policies and standards.
• Providing input into and collaborating with PA departments on all matters addressed in the PA decision-making framework.
• Engage with external stakeholders, mostly regulated institutions, and professional industry bodies, as required to explain the interpretation of prudential legislation, standards, regulations, rules, notices, directives, circulars, guidance and to elucidate on decisions taken and approved by the PA.
• Ensure compliance with the procedures and protocols as required under the PA decision-making framework.
• Ensure compliance with legislative and regulatory requirements of the organisation, and ensure that divisional risks are identified, assessed and that adequate and effective risk mitigating measures are implemented.
• Lead change, which includes creating and maintaining a culture supportive of the organisation’s values and promoting diversity and inclusion in the workplace.
• Manage the performance and development of direct reports, create a performance culture and promote and support career development within the division.

Job requirements

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

• At least a post-graduate degree in Economics, Accounting, Actuarial Science, Finance, Law or any other relevant qualification.
• A minimum of 10 – 12 years’ experience in the financial sector, regulatory environment or auditing with at least five years in a management role.
• A Chartered Accountant South Africa CA(SA) or equivalent qualification would be an added advantage.

Additional requirements include:

Knowledge in:

• Prudential supervision, regulation, and legislation.
• The financial sector.
• Accounting and auditing.
• Financial markets and instruments.
• Relevant policies and procedures.
• Research methodologies.
• Report writing.

Skills in and attributes such as:

• Thought leadership.
• Planning and organising.
• Verbal and written communication.
• Interpersonal relations