Purpose Statement
To enable and support the ongoing risk management in the Capitec Insurance Division through:
Enabling Management to identify risk, and providing oversight over risk management in the business.
Implementing and maintaining a risk framework, including risk definitions, metrics, appetite, limits and approach. Taking ownership for the execution of end-to-end processes, projects, reports, etc.
Monitoring and working with stakeholders on capital management and the management of reinsurance programmes.
Contributing towards the fostering of a risk-focused culture within Capitec Insurance, including pro-actively engaging the business on risk approach and strategy.
Experience
MINIMUM:
- Minimum 3-5 years’ experience in the South Africa Insurance Industry
- Analysing complex issues
- Calculating and/or reviewing financial soundness results of insurers, including Solvency Capital Requirement calculations
- Ability to apply risk and capital expertise in commercial environment
- Exposure to Corporate Governance Frameworks
IDEAL:
- 5+ years’ experience in the South Africa Insurance Industry (preferably in Risk Management and / or Actuarial Audit and Consulting)
- Analysing complex issues
- Calculating and/or reviewing financial soundness results of insurers, including Solvency Capital Requirement calculations
- Contributing to ORSA exercises
- Ability to apply risk and capital expertise in commercial environment
- Exposure to Corporate Governance Frameworks
- Communicating to senior stakeholders in written and verbal form
- Regulatory interactions, including the Prudential Authority and Financial Sector Conduct Authority
Qualifications (Minimum)
Qualifications (Ideal or Preferred)
Knowledge
MINIMUM:
- Knowledge about the Prudential Standards – Governance and Operational Standards for Insurers (GOIs) and Financial Soundness Standards for Insurers (FSIs)
- Awareness of the requirements in insurance related regulations e.g. Insurance Act, Long Term Insurance Act (LTIA), Short Term Insurance Act (STIA), Policyholder Protection Rules (PPRs) and other relevant regulations
- Knowledge of the South African Insurance Industry
IDEAL:
- In-depth knowledge of the Prudential Standards (GOIs and FSIs) and various insurance related regulations
- Risk metrics and approaches used in the risk management of insurance companies
- In-depth knowledge of the South African Insurance Industry
- Knowledge about IFRS 17 will be desirable
Skills
- Analytical Skills
- Business writing skills
- Consultation skills
- Planning, organising and coordination skills
- Verbal Reasoning skills
Conditions of Employment
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