Associate Operational Risk Analyst-RSD at South African Reserve Bank

Job Description

• The purpose of this position is to fulfil the responsibilities of the Prudential Authority (PA) in supervising and regulating operational risk in insurance entities. This role involves both on-site and off-site analysis duties and includes working as part of a team of risk specialists who provide expert knowledge, skills and experience in operational risk management.

Detailed description

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

• Participate in supervisory activities related to operational risk in regulated entities, including reviewing their risk appetite and management of operational risk.
• Ensure regulated entities comply with operational risk regulations.
• Support other risk divisions, including the IT Risk, Credit Risk and Market Risk teams in supervisory tasks related to operational risk.
• Develop methods to analyse and interpret risk-based regulatory data submissions.
• Monitor regulatory entities’ exposure to operational risk as reported to the PA under the various operational risk frameworks.
• Contribute to internal capital adequacy assessments of regulated entities in relation to operational risk.
• Provide input and participate in recovery and resolution assessments of regulated entities regarding operational risk.
• Participate in Own Risk Self Assessments (ORSA) for regulated entities regarding operational risk.
• Provide specialist support in operational risk matters.
• Participate in risk-based meetings with regulated entities and their auditors.
• Update the PA on the overall operational risk behaviour of regulated entities.
• Stay abreast of international best practices and emerging trends in operational risk.
• Support the Divisional Head and Manager: Operational Risk with all operational risk matters.

Qualifications
To be considered for this position, candidates must have:

• a postgraduate degree in either Banking, Commerce, Risk Management, Accounting, or Auditing;
• two to five years’ operational risk working experience in the banking sector; and 
• a postgraduate qualification in Financial Risk Management (FRM) or Professional Risk Management (PRM) will be an advantage.

Additional requirements include: 
knowledge of:

• the Insurance Core Principles;
• relevant components of regulations relating to the insurance industry;
• insurance products;
• an understanding of the key regulatory developments, issues and risks facing insurance entities registered in South Africa and related entities, with a specific focus on operational risk;
• competence in basic office information technologies;
• analytical/problem-solving capabilities;
• strong verbal and written communication skills;
• ability to work in a team and contribute to team success;
• decision-making abilities with the ability to initiate action;
• effective time management skills; and
• reliable own transport as the position requires regular travel.

Deadline:13th February,2026