Payments System Supervisor – Bank of Botswana

Main Purpose of the job

To develop policies and coordinate oversight arrangements for payments system participants, operators and other Financial Market Infrastructures (FMIs) activities with the aim of increasing resiliency and stability of the financial system. To conduct regular oversight inspections of recognised payments system providers. To investigate unauthorised operations by unlicensed operators. To develop a comprehensive understanding of the design, function and risk management of domestic and international FMIs to strengthen operational resiliency and risk management. To monitor compliance of payments system providers.  To ensure that payments and settlement systems operate in accordance with established rules, procedures, relevant acts and best practices.

Duties and Responsibilities

• Conducts self-assessment audits and produces reports indicating the extent of conformity with the Principles for Financial Market Infrastructures and recommend the necessary remedial steps;
•  Assesses and evaluates payment systems providers’ applications for recognition under the National Clearance and Settlement Systems Act;
• Performs system profiling and risk analysis on all the major payments system participants and payments service providers as a basis for the oversight inspection.
• Conducts oversight inspection of licensed payment systems and products in line with the Bank’s oversight framework and recommends resolution of the identified deficiency areas;
• Undertakes research work on the relevance, feasibility and regulation of various payment inter-mediation schemes and technologies such as Smart Cards; Electronic Payment Services (EPS); Clearing and Settlement Systems;
• Conducts statistical analysis of transaction volume and values to assist in discerning emerging payments trends;
• Identifies and analyses trends and critical issues that may influence the direction of, or impact the Bank’s position on National Payments System policy, infrastructure and projects; and
• Conducts on-site and off-site oversight activities, including spot checks, to verify compliance with industry practices and systems rules.

 Job Requirements

Master’s Degree in Economics, Banking, Commerce, Accounting and relevant disciplines OR Bachelor’s degree in Banking, Commerce, Accounting, Finance and/or Economics plus two years post qualification experience

Competencies

The most suitable candidate is expected to have the following skills: understanding of payment systems regulations, analysis of financial statements, knowledge of payments and settlement practices and standards, compliance and risk management, analytical skills, attention to detail, problem solving, research, organising, coordination, time management, good communication, writing, teamwork, customer service and technology savvy.