(969)Manager: ALM Risks – Insurance and Financial Market Infrastructure at South African Reserve Bank

Detailed description 

The successful candidate will be responsible for the following key performance areas: 

• Oversee liquidity risk management practicesacross life insurers, non-life insurers, and reinsurers.
• Evaluate insurers’ Insurance Liquidity Ratio (ILR) compliance with FSI 6 requirements and assess liquidity stress testing and reverse stress testing methodologies used in Own Risk and Solvency Assessments (ORSA).
• Ensure alignment with international solvency frameworks (Solvency II, IFRS 17).
• Monitor liquidity buffers, funding gaps, and contingent funding strategies of insurers.
• Ensure FMIs maintain adequate High-Quality Liquid Assets (HQLA) to cover stress liquidity needs.
• Assess FMI liquidity stress testing, intraday liquidity management, and interdependencies.
• Assess PFMI Principle 7 (Liquidity Risk) and FSB recommendations in regards to the PA approved framework.
• Develop ALM risk analytics models to assess liquidity vulnerabilities across the insurance and FMI sectors.
• Support the Financial Stability Department in monitoring contagion risks related to insurers and FMIs.
• Contribute to the development of the PA guidance on ALM and engage in regulatory dialogue with insurance firms, FMIs, and industry stakeholders on liquidity risk best practices.
• Collaborate with SARB’s Financial Stability Committee to implement liquidity crisis response frameworks.
• Guide supervisory interventions during liquidity crises affecting insurers or FMIs.

Qualifications

Job Requirements 

To be considered for this position, candidates must be in possession of:

• a post-graduate degree in either Accounting, Auditing, Banking, Computer Science, Economics, Finance, Information Management or Risk Management; and
• at least eight to ten years of relevant working experience in the financial services or financial regulatory sector and;
• two years or more of proven experience managing a team would be an advantage.

The following professional certifications will be added advantage:

• CFA (Chartered Financial Analyst)
• FRM (Financial Risk Manager)
• PRMIA (Professional Risk Manager)
• CERA (Certified Enterprise Risk Actuary).