Internship Programme

The successful introduction of an intern programme at BASA has demonstrated that suitably motivated interns can benefit enormously from the exposure gained through their participation in the deliberations that make up the core of our business activity. Through researching issues and participating in solutions oriented discussion, in support of the executives, a level of knowledge gained on current issues is comprehensive and detailed.

Interns must understand we work at the policy and strategic level, and not at bank operations level. An internship gives them exposure to critical policy and strategic issues in the sector, strategic thinking, individual banks at senior level and an understanding of banking operations.

The recruitment process begins in the final quarter of each year.

The requirements are listed below for the respective divisions namely: Market Conduct, Prudential & Financial Inclusion.

Market Conduct Division

Market conduct addresses matters related to bank business activities with retail bank customers through the regulations and practices relating to treating customers fairly, including market conduct, cybercrime, anti-money laundering and the credit regulatory framework.
In addition, all non-financial legislation that forms part of the compliance obligations of banks, is also considered with special emphasis on human settlements, agriculture and sustainable finance (i.e. environmental).
During 2017 and 2018 there will be increased focus on international trends including the G30 requirements for improved conduct and culture in financial services companies, efforts to embed the green agenda into banks’ lending practices following COP 23. Whilst domestically the finalisation of the Financial Sector Regulation Bill and supporting regulations, together with a holistic approach to land reform, agriculture and the financing thereof, will also be undertaken.

Intern Requirements

The intern will be exposed to a broad spectrum of legislative and regulatory issues pertinent to the banking sector. Such exposure will include interaction with government, banks and other relevant stakeholders.
Prospective interns should have the following characteristics:
• A law school graduate
• Some form of banking and financial electives in the degree
• Able to undertake research and develop policy stances or positions

Prudential Division

During 2017, the Prudential Division will be focused on further implementations of the remainder of the Basel III framework, particularly liquidity and capital together with ongoing discussions on the various risk disciplines. The introduction of a Resolution Bill together with the requirement to establish a CCP and trade repository for OTC derivatives will also continue.
The division has many other ongoing themes dictated by the Financial Stability Board and their standard setting bodies IOSCO and the BCBS.
There are two broad areas under the Prudential Division, firstly the financial markets where trading platforms such as bonds, currencies, equities, derivatives etc. are transacted with the other area concentrating on capital and balance sheet optimisation together with the various risk disciplines.

Intern Requirements

The prospective intern(s) should have a specific interest in some of these areas and be:
• Motivated and a self-starter
• Able to take instruction and work independently without supervision
• Research and document discussions
• Travel domestically to attend meetings where required
• A background in law, or
• Wholesale banking.

Financial Inclusion Division

The financial inclusion division strategic drive for transformation, financial and social inclusion in the banking industry and broader economy. The role of the division is to facilitate access to financial services and empowerment financing. The inspiration to make finance accessible to everyone and make it clear and easier to understand. The division emphasis Small and Medium Enterprise (SME) Development, Financial Literacy, Financial Sector Code. And to facilitate social inclusion, the division is also responsible for Corporate Social Investments.

Intern Requirements

The prospective (s) should have a specific interest in some of these areas and be:
• Development Economics
• Development Finance
• Economics
• Business Degree
• Law Degree

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Intern Testimonials

Mohlabani Moloko

My name in Mohlabani Moloko, I became an intern at BASA after obtaining a degree from the University of Witwatersrand in Finance and Insurance and Risk Management.

I interned as part of the prudential banking team where I was exposed to the Basel and IOSCO frameworks. I was able to interact with senior decision makers from the SARB, National Treasury, JSE, and commercial banks.

This led to my involvement in the financial sector regulation bill, which allowed me to participate in the parliamentary processes of reviewing legislation. This bill will regulate all treasury products including derivatives, a G20 initiative to move over the counter derivatives to a central counterparty. I also accompanied the team that presented in Parliament on a number of occasions.

I was fortunate to be given an opportunity to see the markets at work, not only did I spend time in the treasuries and dealing desks of the member banks, but I was also exposed to what it is like to be on the other side spending time at BHP Billiton, South African Airways and the South African Reserve Bank.

I joined the FirstRand quantitative treasury rotation program which enabled me to further my banking experience.

atiyya-vally

My name is Atiyya Vally. I completed my LLB (Deans List) at Wits University and am currently reading a masters in Corporate and Banking law.

As an intern I worked on numerous legal frameworks including the Financial Sector Regulation Bill, Insurance Bill, amendments to the NCA regulations, Protection of Investment Bill, Expropriation Bill, Magistrate and High court rules, amongst others.

Furthermore, I prepared presentations and submissions to various stakeholders, chaired meetings, provided opinions and guidance on legal discussions and briefed senior counsel on litigation matters.

I was part of the BASA teams that appeared before Parliament, the FSB and National Treasury.

I left BASA as an admitted attorney and joined Bidvest Bank in legal and compliance.

Read The Response

Submission On Transformation In The Financial Sector

Read The Banking Association's Position Here

Unravelling the cost of bank regulation

A model has been developed to explain how the cost of bank regulation impacts on selected products over time and should be of interest to both academics and stakeholders.

Intern Testimonials