South Africa Job Openings

South African Reserve Bank

749 Head of Department - National Payment System - NPSD

Pretoria

FULL TIME

November 26, 2024

Job title: Head of Department – National Payment System
Location: Head Office, Pretoria
Department description: National Payment System Department

Description of the department:
The South African Reserve Bank is a payment settlement service provider and overseer of the national payment system (NPS). The National Payment System Department (NPSD) has been assigned the responsibility of regulating and supervising payment service providers and ensuring the effectiveness and integrity of the NPS. In this role, the NPSD strives to reduce and manage risks in the NPS by promoting compliance to international best practice for payment systems. Although the NPSD is primarily focused on the domestic NPS (including its links to international/global systems), it also plays a vital role in the development of the Southern African Development Community’s (SADC) payment systems as well as payment system integration initiatives on the continent.
Brief description
The main purpose of this position is to provide leadership and strategic direction for the NPSD and the broad payment industry initiatives to ensure the overall effectiveness and integrity of the NPS.
Detailed description
The successful candidates will be responsible for, among other things, the following key performance areas:

Provide leadership and strategic direction to the broader NPS industry and the NPSD to facilitate the development of the NPS.
Provide an interbank settlement service for all domestic and rand-denominated foreign exchange transactions.
Provide an interbank settlement service for regional transactions settled on the regional payment settlement platform.
Oversee the NPS to ensure its development in line with changes in the financial system and the environment.
Provide thought leadership on payments related matters to the broader payments ecosystem.
Regulate and supervise payment service providers and administer NPS regulation (i.e. the National Payment System Act 78 of 1998 and directives) to manage risks in the payment system and prevent payment settlement failures and possible systemic risk.
Participate in regional payment system initiatives and provide leadership and strategic guidance to the SADC payment system initiatives.
Facilitate relevant research to keep abreast of developments and best practices to ensure alignment with international payment system practices that foster compliance with international standards.
Participate in international payment system standards setting bodies and forums to provide South Africa and developing economies input into global guidelines and standards.
Participate in international and regional payment system oversight structures to ensure initiatives are aligned to domestic policy objectives.
Facilitate capacity building and information dissemination initiatives, including relevant publications on NPS matters, to ensure public awareness and promote fair access to, and wider usage of, the NPS.
Provide strategic direction and develop plans, management practices and controls for the NPSD.
Direct the preparation of budgets and coordinate spending based on the NPSD strategic and operational plans.
Direct human resource activities, including the approval of human resource plans and activities, hiring and staff development, oversee performance management systems and determine divisional structures.
Manage the performance and development of direct reports, create a performance culture in the department, and promote and support career management and development.
Guide and participate in the development of payment systems on the continent and the region with specific reference to SADC.

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