Legal Counsel

South African Reserve Bank; Pretoria; On-site; ZAR 600 000 - 800 000; Full time

Job summary

A leading financial institution in Pretoria is seeking a Legal Advisor to provide comprehensive legal advice focused on financial sector law. The role involves proactively managing legal risks, advising on legislative developments, and participating in negotiations and stakeholder engagements. Ideal candidates will have a law degree and extensive experience in financial law. This position offers an opportunity to shape legal frameworks and contribute significantly to the organization's risk management strategies.

Qualifications

• Extensive experience in legal advisory roles, focusing on financial law.
• Proven ability to manage legal risks effectively.
• Strong communication and negotiation skills.

Responsibilities

• Identify and manage legal risks within the SARB Group.
• Develop legislative and regulatory frameworks impacting the SARB Group.
• Monitor and advise on local and international legal developments.

Skills

Legal expertise in financial sector law

Regulatory knowledge

Stakeholder management

Research and analytical skills

Education

Law Degree

Job description

Brief description

The main purpose of this position is to provide comprehensive and effective legal advice relating to the legislative, regulatory and litigious issues the South African Reserve Bank (SARB), the Prudential Authority (PA) and its subsidiaries (collectively called the “SARB Group”), with a special focus on financial sector law as defined in the Financial Sector Regulation Act No 9 of 2017. This includes banking or insurance or pension law and other related areas. The incumbent may also be required to lead a team of legal consultants in the provision of legal advice and to contribute proactively to the mitigation of legal risk within the SARB Group.

Detailed description

The successful candidate will be responsible for, but not limited to, the following key performance areas:

• Proactively identify, address and manage potential legal risks within the SARB Group.
• Contribute to, and take responsibility for, the development of appropriate legislative and regulatory frameworks that have an impact on the SARB Group, including the PA.
• Take responsibility for monitoring and reviewing local and international legislation, regulation and policies that have an impact on the mandate of the SARB Group, and advise senior management on developments.
• Conduct and integrate research on issues relating to the legislative, regulatory and policy frameworks that have an impact on the SARB Group, the financial sector, and advise on the impact on current frameworks in the financial sector.
• Steer legal processes for internal clients on complex legal challenges and disputes affecting their operations.
• Draft legislation (where applicable), as well as opinions to address specific concerns of the SARB Group.
• Participate in negotiations to conclude agreements and agree on relevant positions, policies, principles, litigation matters and regulatory action matters, in consultation with senior management in the Legal Services Department.
• Participate in internal and external forums, and present and/or defend informed positions that are in the interest of the SARB Group.
• Lead special projects to ensure that mandated and informed positions are developed and presented to stakeholders.
• Manage stakeholder relationships in relevant areas (internal and external) to enhance the operations of the SARB Group and facilitate the required co-operation and concurrence between financial sector regulators.
• Manage litigation affecting the SARB Group, by managing the litigation process with external counsel.
• Provide regular updates and progress reports on all instructions for the purpose of management information, consistency of application of legislation/opinions to manage reputational and legal risk.