(1286) Junior Insurance Analyst -FCSD at South African Reserve Bank

Detailed description

The successful candidate will be responsible for the following key performance areas with the support of a senior analyst in discharging the following responsibilities:

• Implement supervisory plans of allocated insurers or insurance groups (i.e. insurers with a lower risk profile and a risk rating of Limited or No Concern).
• Monitor the financial soundness of insurers and insurance groups through the analysis of their monthly, quarterly and annual submissions (both quantitative and qualitative).
• Process notifications and applications, and recommend approval or decline of financial and non-financial applications.
• Regularly update and or prepare the initial -Risk Assessment document (RAD) for an insurer and insurance group taking into account the operational structure, business model, financial information, governance and Own Risk and Solvency Assessment (ORSA) and including his/her recommendations to close gaps. 
• Prepare packs for on-site visits.
• Attend on-site visits and participates in engagements under the guidance of a senior analyst/manager. 
• Draft memoranda and reports relating to on-site visit outcomes, including his/her recommendations.
• Maintain databases and records of all relevant information on insurers and insurance groups within portfolio.

Job requirements

To be considered for this position, candidates must have: 

• be in possession of a Postgraduate qualification in finance, law, accounting, insurance, banking, economics, actuarial or a relevant equivalent qualification; 
• up to two years’ experience in the insurance sector, or insurance-related experience in the wider finance sector or risk management environment.