Manager – Market Risk (Insurance, FMIs and Cross-sectoral) at South African Reserve Bank

Detailed description

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

• Conceptualise, monitor and manage operational work plans drawn from the division’s strategy (primarily focused on markets analysis, regulation and supervision), and provide managerial direction, leadership and technical guidance to a team of market risk specialists.
• Perform supervisory duties for relevant areas and financial institutions, including assessing compliance with applicable regulations and standards.
• Develop fit-for-purpose regulatory instruments, including subsequent attendance to all post-implementation matters. 
• Conduct quantitative and qualitative research, and develop and implement appropriate analytical techniques, procedures and controls to enhance regulatory capability and supervisory depth.
• Work collaboratively on relevant initiatives with other teams within and outside of the division, including providing expert technical input to supervisory teams, policy development specialists and other stakeholders.
• Manage stakeholder engagements and relationships (internal and external to the PA). 
• Manage team performance, learning and development, succession planning and talent development.
• Identify and mitigate risks related to own function, and ensure compliance with relevant governance frameworks. 

Qualifications

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

• a postgraduate degree (at least NQF level 8) in Computer Science, Economics, Finance, Insurance Investment Management, Mathematics, Statistics, or another relevant quantitatively focused degree; preference will be given to candidates with financial mathematics or financial engineering post-graduate qualifications;
• at least 8–10 years of relevant working experience in the financial services or financial regulatory sector; 
• relevant knowledge of and experience in the insurance and financial market infrastructure environments, market risk, counterparty credit risk and/or quantitative analytics (including model development, validation, etc.) focused on investments and financial derivatives; and
• at least 2 years of proven experience in managing teams.

The following would be an added advantage: 

• being a Chartered Financial Analyst (CFA);
• being a Financial Risk Manager[1] (FRM);
• having a Certificate in Quantitative Finance[2] (CQF) or another appropriate industry-recognised certification; and/or
• having a Master of Business Administration (MBA) degree or another relevant Master’s-level (or higher) management-related degree.