National Treasury Vacancies – Financial Services Providers

Website National Treasury of South Africa

Job Description:

The Minister of Finance invites applications for the position of the Ombud for Financial Services Providers (FAIS Ombud). The FAIS Ombud was established in terms of section 20 of the Financial Advisory and Intermediary Services Act, (Act 37 of 2002) (FAIS Act). The FAIS Ombud is a schedule 3A entity in terms of the Public Finance Management Act, (Act 1 of 1999) (PFMA), and reports to the Minister of Finance (for details please visit https://www.faisombud.co.za/). The objective of the FAIS Ombud is to consider and assess client complaints against financial services providers in a procedurally fair, informal, economical and expeditious manner. Applications are sought from dynamic and experienced leaders, with proven experience of the financial sector and track record of effective team management and results driven leadership, at executive or senior management level. The candidate should be experienced in financial sector regulatory issues, adjudication and interpretation of laws, alternative dispute resolution and the promotion of the fair treatment of financial customers. It will be an advantage if the candidate has international knowledge or experience in financial regulation or supervision.

Job Responsibilities:

  • The Office of the FAIS Ombud is required to contribute to ensuring that the South African financial services industry has integrity, works in the interests of financial customers, and supports balanced and sustainable economic growth in the Republic.
  • Where the pre-emptive provisions of specific financial sector laws such as the Financial Sector Regulation Act and the FAIS Act have failed to ensure the protection and fair treatment of consumers through the prescriptive duties imposed on providers of financial services, the Office of the FAIS Ombud, along with other industry Ombud schemes, should play a pivotal role in the adjudication of any complaints from consumers that flow from their treatment by financial services providers

Job Requirements:

  • Attorney, Advocate or Ex-Judge;
  • General management experience,
  • A relevant postgraduate degree in law (NQF Level 8) recognised by SAQA;
  • Thorough knowledge of financial sector laws, in particular the FAIS Act and its subordinate legislation,
  • Strategic planning and leadership,
  • A minimum of 10 years relevant financial sector and senior management experience, preferably with some exposure to financial consumer protection, adjudication and interpretation of law and exposure to alternative dispute resolution,
  • A deep understanding of the financial sector and the role, purpose and functioning of a financial sector regulator, and one that deals with dispute resolution,

Job Details:

Company: National Treasury of South Africa

Vacancy Type:  Full Time

Job Location: Pretoria, Gauteng, SA

Application Deadline: N/A

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