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The Financial Services Department's mission is to ensure sound financial management in the Bank and to provide centralised financial administration, banking, procurement and insurance services.
Its responsibilities include:
Providing banking services to the Bank itself and its subsidiaries, the central government and other clients;
Managing the Corporation for Public Deposits;
Administering the financial accounting and reporting functions for the Bank and SARBCIC;
Administering the company tax for the Bank and SARBCIC;
Managing the SWIFT system;
Administering the domestic payments and receipts of the Bank;
Administering the capital and operational budgets of the Bank;
Administering the Accounts Payable function of the Bank;
Administering the remuneration function;
Administering the Retirement Fund of the Bank;
Managing the procurement function of the Bank;
Providing insurance services to the Bank and its subsidiaries;
Managing the South African Reserve Bank Captive Insurance Company Limited (SARBCIC); and
Liaising very closely with the South African payments and settlements industry.