(1608) Financial Markets Specialist (Market Intelligence) - FMD at South African Reserve Bank

Pretoria, Gauteng, South Africa -

Full Time

Start Date

Immediate

Expiry Date

29 Jul, 26

Salary

0.0

Posted On

30 Apr, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Financial markets, Market intelligence, Data analysis, Quantitative methods, Economic research, Monetary policy, Financial stability, Risk identification, R, Python, Microsoft Office, Report writing, Stakeholder management, Strategic planning, Quantitative finance

Industry

Banking

Description

The main purpose of this position is to deliver market intelligence to support policy decisions and promote monetary and financial stability. The incumbent will form part of the Market Intelligence (MI) function, which systematically engages market participants on conditions and developments in global financial markets. Such engagements yield insights that often get tested against the division’s own judgements and combined with market data, models and surveys to inform senior policymaking committees and the development of financial markets. Furthermore, as central banks’ MI activities have expanded beyond traditional intelligence-gathering strategies to include more data-driven analysis, the incumbent will be required to leverage advanced technologies, innovative quantitative methods, and richer, more granular, and higher frequency data to inform their assessments. As such, the incumbent will contribute toward expanding the SARB’s MI toolkit. Detailed description The successful candidate will be responsible for the following key performance areas: * Monitor financial market developments and analyse market pricing, flows and behaviour to identify emerging risks, shifts in expectations and potential sources of monetary or financial instability. * Combine qualitative intelligence with quantitative data, models and surveys to produce clear analytical insights. * Research and implement relevant new methods, analytical techniques and best practices related to gathering, analysis and reporting of market intelligence. * Engage directly with a wide network of external financial market participants, including banks, asset managers, insurers and infrastructure providers. * Systematically gather, aggregate and challenge qualitative intelligence from market contacts, ensuring diversity of views. * Maintain strategic relationships with key participants in the financial markets. * Produce high‑quality written briefings, dashboards and presentations for senior policy forums, including the Monetary Policy Committee and Financial Stability Committee. * Contribute directly to briefing packs and narrative used in MPC and FSC. * Support the design, evaluation and communication of market operations and facilities. * Contribute to the design, execution and analysis of structured intelligence tools, combining survey data with broader market intelligence. * Use survey results to assess market expectations, perceptions of policy and macroeconomic risks. * Collaborate with colleagues across the SARB to deliver on cross‑cutting analytical projects, horizon scanning exercises and longer‑term research agendas. * Transfer knowledge and skills to junior specialists, which includes providing technical support and monitoring their progress. * Assist with committee administration and provide secretarial support. * Perform ad hoc tasks. 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. Financial Markets Department (FMD) Functions In the execution of its mission, the Department has the following responsibilities: * Implementing monetary policy decisions of the MPC. This entails influencing short-term money market rates to be consistent with the repo rate set by the MPC. This is done by creating a liquidity shortage in the money market which the banks have to refinance from the Bank, at the repo rate, or other penalty rates as applicable, through repurchase transactions. Liquidity management also includes the usage of other open-market operations such as reverse repurchase transactions, SARB debentures, foreign exchange swaps, movement of public sector funds between the Bank, and the market and facilities such as the averaging of cash reserves. * Participating in the spot and forward foreign exchange markets to service the foreign exchange needs of the Bank and its clients. * Acting as a funding agent of the Government by conducting bond and Treasury Bill auctions, participating in the formulation of debt management strategies and conducting surveillance over primary dealers in the government bond market. * Managing the investment portfolio of the Corporation for Public Deposits (CPD). * Promoting the effective functioning of the domestic financial markets and contributing to the Bank's financial stability mandate through effective market monitoring and ensuring the Bank's activities in the markets support financial stability. * Managing the country's official gold and foreign exchange reserves. * Managing relationships with domestic and foreign counterparties covering both trading and settlements. * Providing custody and settlement services to the government and relevant counterparty banks. * Managing risks inherent in the management of gold and foreign exchange reserves, all market operations conducted by the department, as well as all functions conducted on behalf of Government by the FMD. * Performing an accounting function for all transactions conducted by the Department in the domestic and foreign exchange market as well as transactions related to its foreign reserves management functions in terms of the Reserve Bank Act and in alignment with the International Financial Reporting Standards (IFRS). * Providing market information and analyses to assist various Bank Committees and the GEC in their decision-making processes. Fostering relations with market participants and other stakeholders, in order to improve the Bank's understanding of market developments and to promote the image.

Responsibilities

The incumbent will monitor global financial market developments to provide intelligence that supports monetary policy decisions and financial stability. They will combine qualitative insights with quantitative data and advanced analytical techniques to produce briefings for senior policy committees.