DIRECTOR: DEBT ISSUANCE AND MANAGEMENT REF NO: S111/2026 Division: Asset and Liability Management (ALM) Purpose: To finance the government’s borrowing requirements through the issuance of government securities in the domestic and international capital markets and manage the government’s existing stock of debt to broaden the total investor base.

This is a senior leadership role within the National Treasury’s Asset and Liability Management division, reporting at Director level. The position is responsible for financing the government’s borrowing requirements by issuing securities in both domestic and international capital markets, while also managing the existing stock of government debt. The broader objective is to broaden the total investor base and ensure that the country’s debt portfolio is managed prudently, cost-effectively, and with due attention to refinancing risk. Based in Pretoria, the role sits at the heart of South Africa’s public financial management and requires a deep understanding of money and capital markets, foreign exchange dynamics, and sovereign debt instruments.

Candidates must hold a Grade 12 certificate and a minimum Bachelor’s degree at NQF level 7 in Economics, Finance, Actuarial Science, Commerce, Investment Management, or International Economics with a focus on money and capital markets. At least five years of experience at middle or senior management level in financial markets operations is required. The role also demands knowledge of different research methodologies, market analysis techniques, and the ability to work across various foreign interest rate markets and currencies. Experience in both qualitative and quantitative analysis of domestic and foreign debt reports is essential. In addition, successful completion of the Nyukela Public Service Senior Management Leadership Programme, as endorsed by the National School of Government, is a mandatory requirement before any appointment can be finalised.

The duties are broad and strategic. The Director will develop and implement a domestic and foreign borrowing strategy for the National Treasury, initiate the issuance of government securities, and implement benchmark bonds in local and international markets. The role also involves determining the appropriate financing measures for government’s borrowing requirements. Stakeholder engagement is a key component: the Director will develop tools to improve the investor base, manage an investor website, conduct road shows, and build relationships with banks, domestic and foreign investors, and legal advisers. The position also carries responsibility for disclosure and listing requirements associated with domestic and offshore bond issuance, including assisting with the annual filing of the 18K form with foreign regulators such as the U.S. Securities and Exchange Commission and Japanese authorities. Another core area is the coordination of the debt portfolio to reduce refinancing risk and cost, frequent market and portfolio analysis, monitoring domestic and international economic events, and advising on prudent debt management policies. The Director will also initiate research on market volatility, stay abreast of developments affecting foreign debt management, and contribute to briefing notes and speeches.

This is an all-inclusive remunerated senior management position within the public service. Applicants must apply through the National Treasury’s e-recruitment system, where their profile serves as the equivalent of the newly approved Z83 form. Supporting documents such as qualifications and identity documents must be uploaded, though certification is only required prior to interview. Shortlisted candidates, including SMS applicants, will undergo pre-entry assessments: a practical exercise testing technical and generic suitability, and an integrity assessment. Up to three SMS candidates may also be required to complete psychometric assessments covering cognitive abilities, behavioural preferences, emotional intelligence, and integrity. The National Treasury explicitly disqualifies applications where artificial intelligence is used without acknowledging sources during assessments. All shortlisted candidates will be subject to qualification, criminal, and South African citizenship checks, and additional checks may apply in line with recent public service directives. By applying, candidates consent to the collection and processing of their personal information for internal human resource purposes.