Purpose of the JobTo oversee the implementation and supervision of the regulatory framework for credit ratings agencies ("CRAs") and financial benchmark administrators ("FBAs"). CRAs are primarily regulated and supervised in terms of the Credit Rating Services Act No. 24 of 2012 ("CRS Act"); and the regulations of financial benchmarks is currently under development. The person appointed to this position will be stationed in the Market Integrity and Decision Sciences Division and will report to the Senior Manager: Ratings and Indices.
Key Performance Areas
Provide support in the implementing and administering of the CRS Act, Conduct Standard - Requirements relating to the provision of a benchmark and any other subordinate legislation.
Initiate and conduct routine market conduct on-site inspections of CRAs and FBAs in terms of the Risk-Based Supervision approach.
Review and recommend for approval or refusal of applications for licence, amendments, exemptions, and outsourcing arrangements for CRAs, and assist the licensing division in the review of applications for license for FBAs.
Conduct relevant research to improve the standard of regulation in line with national and international developments and requirements.
Participate in and contribute to discussions regarding possible regulatory and policy direction on the regulation and supervision of CRAs and FBAs.
Represent the department at relevant internal and external meetings, committees, and forums in line with stakeholder engagement plan.
Assist in the compilation of routine reports and commentaries within the set timelines.
Other Key CompetenciesThe applicant must demonstrate the following skills and attributes: strong analytical abilities, attention to detail, critical and innovative thinking, strong financial and numeracy skills, excellent communication skills (verbal and written), ability to work as part of a team as well as independently. The candidate must be confident, decisive and approach all tasks in a diligent and professional manner.
The FSCA is committed to increasing the representation of marginalised groups in line with its transformation strategy. Persons with disabilities are encouraged to apply.
Please note that correspondence and communication will only be conducted with shortlisted candidates and that the FSCA reserves the right not to appoint if a suitable candidate is not identified.
Minimum RequirementsA bachelor's degree in finance, economics, accounting, or law with at least 5 years of experience in the financial sector and/or the regulatory environment within the financial services industry. Good knowledge and/or experience of the functioning of the financial markets, credit rating services or financial benchmarks will be an added advantage.
Closing Date: 1 October 2024
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