Funding for Doctoral and Post-Doctoral Research Background The BANKSETA is a statutory body established through the Skills Development Act of 1998 to enable its stakeholders to advance the National and Global position of the Banking and Microfinance industry. As guided by its mandate the BANKSETA is as such an agent of transformation and seeks to promote employment equity and broad-based BEE through Skills Development. The BANKSETA Council has indicated that there is a continuing need for funding for skills development of employees of BANKSETA registered employers as well as a need for funding Doctoral and Post-Doctoral research pertinent to the broader banking and microfinance sector. The need is expressed for funding for Doctoral and Post-Doctoral Research programmes, offered by South African Institutions of Higher Education. The rationale of funding the Doctoral and Post-Doctoral programmes, is to address the following with currently employed professionals in specialist areas in the industry and preemployed / university based researchers: Stimulate research pertinent to the broader banking and microfinance sector including cooperative banks; Make research results available in the interest of the financial services sector and the South African economy as a whole. Researchers can be nominated as programme beneficiaries by their employers or by Higher Education Institutions offering the research. A panel of experts will advise the BANKSETA on the approval of proposals and allocation of funds. The BANKSETA reserves the right not to allocate the funding available. Guidelines Funding Offered: The BANKSETA will make funding available to BANKSETA registered employers to fund their employees, to registered South African Institutions for Higher Education to fund their researchers in Doctoral and Post-Doctoral research programmes, pertinent to the broader banking and microfinance sector.
2 The funding is offered annually in two funding windows, depending on the availability of funds. Funding for programmes that exceed this period will be treated as a year-on-year application based on the progress of the candidate. Who can apply? Two types of applications are anticipated: From employers in the broader banking and microfinance sector seeking to support their employees engaged with or to be engaged with Doctoral and Post-Doctoral research; From South African Institutions for Higher Education seeking to support their researchers engaged with or to be engaged with Doctoral and Post-Doctoral research. The employer can, through its designated representative (Skills Development Facilitator SDF), apply for funding on behalf of its employees. The Institution for Higher Education will, through its designated representative, apply for funding on behalf of its researchers. The candidates need to meet the academic requirements for research of Doctoral and Post- Doctoral research programmes, as set by the respective Institutions for Higher Education. The research proposal needs to be approved by the respective Institutions for Higher Education. All employees and researchers are nominated by employers and/or Institutions for Higher Education as programme beneficiaries. Only South African citizens can be programme beneficiaries and in general the composition of the final list of beneficiaries should be 85% black, 54% female and 4% people with disabilities. For the candidates whose applications were approved in the previous year it is a requirement that new applications be submitted for the following study year and the necessary priority will be given to such applications. Candidates who were funded by BANNKSETA in the previous year (s) are required to via their employer/institution of Higher Education to notify BANKSETA in writing of their intention not to apply for funding in the next year and to furnish reasons for such. These notifications should reach BANKSETA on or before 10 December failing which BANKSETA will consider such candidates as drop offs from its funding. Applications received after the closing date, will not be considered. NB: Proof of registration will be required before funding will be released and the date of signing the Memorandum of Agreement is deemed to be the start date for the funding What programmes, research topics and institutions? This funding opportunity is provided for research programmes on Doctoral and Post-Doctoral level.
3 The financial sector depends on an interdisciplinary workforce and therefore avails this opportunity to disciplines that will best advance the broader banking and microfinance sector. The research needs to benefit the banking and microfinance sector. prioritises scarce skills areas identified as follows: The BANKSETA The banking sector s scarce skills: Risk Management ICT Banking Management and Leadership Sales & Relationship Management Compliance (as identified in the BANKSETA Sector Skills Plan 2011 and The Future Skills Report 2008) Microfinance skills needs: Customer Service & Relationship Management Financial intelligence Administration Microfinance related legislation (as identified in the 2011 BANKSETA SSP for Inclusive Banking) Over and above, the BANKSETA refers prospective applicants to the research topics reflected in the addendum and as per the priorities set out in the BANKSETA Sector Skills Plan 2011. The nominated research programmes have to be offered by a South African registered Institution for Higher Education (university or business school). Preference will be given to research programmes already approved by the respective Institution for Higher Education. The research results will be made available in the interest of financial services sector and the South African Economy as a whole and as such will be published by BANKSETA for access by the banking and microfinance sector. Allocation of funds: Funding is limited to the cost of the research. Funds are allocated as follows:
4 IN SCOPE Tuition fees Library Fees Books (up to R4000.00) Conferences / Seminars nationally ONLY Focus Groups (provide budget) OUT OF SCOPE International travel and accommodation costs Co-funding with another public agency (South African organisation funded by public resources to support empowerment interventions). Editing Printing Nominations will be accepted on the merits of the application. In the event that the available funding is oversubscribed, the BANKSETA will ensure the widest spread amongst employers and Institutions for Higher Education. Application, Reporting and Payment Procedure: 1. Individual employers and Institutions of Higher Education will identify candidates as per the guidelines provided. 2. Having identified the candidates they wish to support, the employers and Institutions for Higher Education complete the Application Form (see attached) with a research proposal and send these to the Bursary Agent by the closing date. 3. Applicants (employers and Institutions for Higher Education) will be advised of the outcome of their application. Any additional information, if required, will be requested at that juncture. An application form should be submitted for each beneficiary as data are collected and stored per beneficiary for record purposes. 4. On receipt of this information and funds permitting, the BANKSETA will draw a Memorandum of Agreement (MoA) with each employer and/or Institution for Higher Education for the approved funding. 5. MoAs should be signed and returned to the BANKSETA Bursary Agent within a period of 30 days. If the MoA are not returned in time, the BANKSETA may reallocate the funds. The MoA makes provision for the employer and/or Institution for Higher Education to refund the BANKSETA in the event of non-delivery. 6. Successful applicants (as defined in point 3 above) will invoice the BANKSETA as per the approved percentage breakdown of the cost of the research programme once all
5 documentation has been submitted. If there is more than one beneficiary, they may be invoiced together. 7. The BANKSETA will pay the successful applicant within a period of 30 days. 8. Upon the acceptance of the proposal and proof of registration by the BANKSETA panel, 50% of the funds will be disbursed for the identified candidate. Monthly progress reports are requested to track progress and performance against the project plan. 9. Upon the receipt of the Mid Term Report and if progress is in accordance with the MoA, the final 50% will be disbursed. 10. BANKSETA reserves the right to limit the number of researchers / candidates per Institution for Higher Education. 11. BANKSETA may apply a means test to prioritise the allocation of funding. The research will be available for dissemination on the BANKSETA knowledge portal, without restriction of publication, in the interest of the financial services sector and the South African economy as a whole. Special Requests: Special requests such as: Submission of living expenses Travel (nationally) Data purchasing Software / hardware purchasing Budget for Books (above R4000.00) should be directed to the BANKSETA Funding Administrator. These requests will be discussed at the BANKSETA panel meeting and are subject to the availability of additional funds. Progress reporting Successful candidates will be required to submit progress report midyear (by 31 July) and at the end of the study year (10 December). The reports should be accompanied by proof of spend for the period. In this case proof of spend refers to relevant receipts, proof of payment, proof of registration for the studies and related conferences attended. Invoices will ONLY be paid when a progress report has been attached.
6 Claw Back Principle: The full cost of the research funding for each candidate is covered by the BANKSETA. The BANKSETA is required in terms of the Public Finance Management Act (PFMA) to ensure that funds allocated are accounted for including recovery of funds as and when losses occur. It is within this context that BANKSETA will recover from employers and South African Institutions for Higher Education, the funds and/or costs incurred due to non completion and/or drop off of its candidate(s) from this project. All participating employers / South African Institutions for Higher Education s will as such be required to sign a Memorandum of Agreement with BANKSETA to this effect. BANKSETA funding for Doctoral and Post-Doctoral Research, Guidelines on topics The BANKSETA draws applicants to the following potential research areas as a guide the likes of which BANKSETA Doctoral and Post-Doctoral Research funding programme may consider: The structuring of BEE deals in SA financial system; King III and corporate governance in the banking sector; Basel III and fair-value accounting the impact on banking sector stability; Compensation systems in the banking sector; The securitisation model and its flaws impact on stability of the financial system; The role of credit rating agencies conflicts of interest and information problems; Credit standing of consumers in SA developments and information from the National Credit Regulator; Cooperative banks: regulation, profitability and sustainability, socio-economic impact The importance of capital adequacy and liquidity sufficiency in banks in light of the global financial crisis; and Microfinance.
7 Contact details: The Application Form for beneficiaries (employees / researchers) should be sent to the BANKSETA at funding@bankseta.org.za as per the closing date communicated by BANKSETA. BANKSETA Funding Administrator Email: funding@bankseta.org.za Phone: +27-11-805-9661 Fax: +27-11-805-8348 BANKSETA Thornhill Office Park, Block 22 94 Bekker Road Vorna Valley Midrand 1685 Please direct all enquiries to the BANKSETA Funding Administrator.