Job Description

Brief description

The main purpose of this position is to provide leadership and strategic direction to the Prudential Authority (PA) Enforcement Team, which is responsible for investigating the possible non-compliance by regulated entities with relevant legislation and implementing sanctions and enforcement decisions taken by the PA. This position is also responsible for managing the PA Resolution Team in fulfilling its mandate of overseeing the resolution of failed non-systemically important supervised financial institutions in accordance with applicable legislation.

Detailed description

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



Contribute to the development of the departmental strategy and take responsibility for the division's operational plan. Plan and prioritise work to achieve the division's objectives and manage the use of resources to increase efficiency, as required. Lead the division in developing, reviewing and implementing the framework, guidelines and procedures for the consistent enforcement of regulatory instruments in respect of PA-regulated financial institutions. Lead the division in developing, reviewing and implementing a resolution framework for non-systemically significant financial institutions regulated and supervised by the PA. Instil a pre-emptive, risk-based and outcomes-focused approach to enforcement and resolution. Manage the development and refinements to the PA Regulatory Action Committee's (PARAC) terms of reference and procedures to ensure optimal functioning of the PARAC, as and when required. Lead and drive the delivery of work in the division relating to assessing the appropriateness of recommended sanctions and enforcement decisions to enable effective decision-making by the PARAC. Recommend an appropriate resolution strategy in respect of financial institutions in financial distress, in collaboration with relevant stakeholders and in accordance with applicable financial sector laws. Lead and direct engagements with external stakeholders for monitoring international and domestic developments, and assess their relevance and applicability to the work of the division. Establish and maintain strategic direction and focus within the division, ensuring alignment with the South African Reserve Bank's (SARB) mandate as well as compliance with relevant frameworks and legislation. Contribute to the PA and SARB's strategic initiatives, especially those with a direct impact on the division, and encourage collaboration within the division, the department and across the other PA departments. Direct and coordinate the division's budget, governance, control and risk management activities to maximise efficiency and effectiveness as well as ensure that risks are identified, assessed and mitigated timeously. Manage the performance and development of direct reports, create a performance culture in the division, and promote and support career management and development. Monitor, evaluate and report on the division's performance outputs and achievements. * Lead change by creating and maintaining a culture that reflects the SARB's values and promotes diversity and inclusion in the workplace.