Regulatory Accountant

PRIMARY PURPOSE

The purpose of this role is to manage the preparation and submission of regulatory returns to financial authorities (e.g. South African Reserve Bank.) in accordance with statutory and prudential requirements. The Regulatory Accountant ensures accurate interpretation of evolving regulations, supports the implementation of new reporting standards, and collaborates with finance and risk teams to maintain full compliance and data integrity.

In addition, the role is responsible for ensuring that all regulatory reporting is accurate, timely, and aligned with internal control frameworks and external compliance standards.

TECHNICAL COMPETENCY REQUIREMENT

• Regulatory Reporting: In-depth knowledge of regulatory returns and reporting requirements (e.g., central bank, prudential authority, or financial regulatory submissions).
• Strong understanding of accounting principles, IFRS, and statutory reporting standards.
• Prudential Standards Compliance: Familiarity with capital adequacy, liquidity, and solvency frameworks (e.g., Basel III/IV, Solvency II, Bank Act).
• Ability to interpret and apply evolving financial regulations and reporting standards.
• Ability to ensure accuracy and consistency of financial data
• Experience supporting internal and external audits related to regulatory reporting.
• Advanced proficiency in Microsoft Excel and familiarity with data analytics tools (e.g., Power BI, SQL) for reporting and validation.
• Good knowledge of regulatory key risk
• Ability to interact with internal and external stakeholders at all levels
• High level of integrity & consistent with good judgement
• Communication skills (Verbal and written)

REQUIRED MINIMUM EDUCATION AND TRAINING

• B Com Degree preferably with accounting as a major; or B Com Risk Management

REQUIRED MINIMUM WORK EXPERIENCE

• 3–5 years of experience in financial or regulatory reporting, preferably within the banking, insurance, or financial services sector.
• Prior exposure to working with finance, risk, and compliance teams to ensure accurate and compliant reporting
• Knowledge, understanding and interpretation of regulatory ratios
• SQL experience is advantageous

KEY PERFORMANCE AREA (KPA)

FINANCIAL MANAGEMENT

• Ensure timely and accurate preparation and submission of all regulatory and statutory returns in compliance with prudential and accounting standards.
• Monitor key financial and regulatory metrics to ensure alignment with organizational targets and risk appetite.
• Support the preparation of financial statements and reconciliations related to regulatory reporting.
• Contribute to maintaining data integrity and accuracy across financial and regulatory systems.
• Identify and implement process improvements that enhance reporting accuracy, efficiency, and compliance.
• Identify manual processes and collaborate with relevant stakeholders to automate
• Implement effective control and mitigation measures to minimize financial risk and prevent regulatory penalties

CUSTOMER CENTRICITY

• Build and maintain effective relationships with internal stakeholders (e.g., Finance, Risk, Compliance, and Audit teams) to ensure high-quality service delivery.
• Respond promptly and accurately to regulatory and internal stakeholder queries.
• Provide insights and guidance to management and business units on regulatory reporting implications.
• Promote a culture of accountability, transparency, and continuous improvement in regulatory compliance and reporting
• Interact with the regulatory authorities on ad hoc requests and responses to queries.

OPERTIONAL EXCELLENCE

• Interpret and apply evolving regulatory requirements, ensuring compliance with relevant laws and prudential frameworks.
• Maintain and enhance internal control processes governing regulatory reporting.
• Provide analysis and responses to all issues relating to SARB queries on an on-going basis
• Collaborate with Finance, Risk, Data and Compliance teams to ensure consistency between financial data and regulatory submissions.
• Attend to all regulatory audit and regulatory reviews by providing required documentation, reconciliations, and explanations within agreed turnaround time.
• Participate in system enhancements, data validation initiatives, and automation projects to streamline reporting processes.
• Manage the status and timely delivery of all project and regulatory reporting deliverables in line with agreed schedules.
• Ensure awareness and communication of system related challenges and speedy resolution.
• Ensure compilations of monthly regulatory metrics for management reporting purposes
• Ensure Timeous submission of SARB returns
• Ensuring the timeous completion of the following SARB returns for review:

Balance Sheet

Off Balance Sheet Activities

Income Statement

Restriction on Investment, Loans and Advances

Credit Risk (Standardized Approaches)

Minimum Reserve Balance and Liquid Assets

Daily Return

Investment Risk

Consolidate BA returns

• Statistical reporting to SARB economic department (BA 900, BA 920 and BA 940)

CULTURE AND ENGAGEMENT

• Contribution to making the department a great place to work.
• Promote teamwork (level of teamwork, accountability, delivery, quality & speed of information shared contribution to efficiency and effectiveness of area)
• Make effort to forge and maintain quality inter-personal relationships.
• Take accountability for the achievement to operational objectives within area of control and influence.
• Support and drive the business's core values.
• Promote the sharing of knowledge.

LEARNING AND GROWTH

• Manage own personal growth according to personal development goals
• Achievement of objectives/milestones set out in the development plan
• Broaden skills to ensure greater marketability and value within the bank

WORK CONDITIONS: OFFICE BOUND

This position is advertised in line with our commitment to Employment Equity.