Fresh Jobs at South African Reserve Bank

Detailed description

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

• Supervise insurers and insurance groups within the allocated portfolio through a combination of on- and off-site analysis of quantitative and qualitative information to identify and assess risks and then propose mitigating actions.
• Process the notifications and applications received from insurers and insurance groups within the allocated portfolio, and recommend to either approve or decline the applications.
• Provide input into the development and implementation of the regulatory framework.
• Promote efficient, fair and sustainable insurance markets as well as policyholder protection.
• Develop and implement a prudential risk-based supervisory plan for allocated insurers.
• Provide input into, and assist with, the co-ordination and implementation of interventions for problematic insurers, as per the supervisory ladder of intervention.
• Maintain databases and records of all relevant information on insurers and insurance groups within the allocated portfolio.
• Liaise and collaborate with other relevant departments within the Prudential Authority (PA) and the SARB.
• Assist with, and provide input into, the development of public documents relating to insurance supervision.
• Liaise with the industry, other regulators (local and international) and relevant financial institutions.

Job requirements

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

• A Postgraduate qualification (NQF8) specialising in Accounting, Economics, Financial Management, Insurance or Risk Management, or a relevant equivalent qualification; and
• at least 2–5 years of working experience in the insurance sector or insurance-related experience in the wider finance sector or risk management environment.

go to method of application »

Detailed description

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

• Promote the safety and soundness of the insurers and insurance groups under his/her supervision. 
• Provide strategic direction in the development, implementation and monitoring of the division’s strategy in accordance with the Prudential Authority’s (PA) overall strategy and ensure alignment with the department’s strategic direction.
• Contribute to the development and continuous refinement of the supervisory approach to insurance, taking into consideration the current, emerging, systemic and supervised entity-specific risks.

Manage the supervisory oversight of the entities supervised by the division, including but not limited to:

• leading and managing the day-to-day supervision of insurers and insurance groups; 
• directing the consistent application of appropriate supervisory practices, protocols, tools and procedures to all the supervised entities allocated to the division; 
• identifying, assessing and escalating key risks, and reacting to key indicators of risks within the department; 
• overseeing the maintenance of the permanent records and correspondence of insurers and insurance group(s) allocated to the division; 
• endeavouring to uphold an updated risk rating of the supervised entities under supervision;
• monitoring compliance by the supervised entities with the applicable regulatory framework, which includes prudential standards and regulations.
• Manage the operationalisation and implementation of decision-making frameworks, protocols and procedures. 
• Ensure compliance with all the legislative and regulatory requirements of the South African Reserve Bank (SARB).
• Ensure that the risks of the division are identified and assessed, and that risk-effective mitigating measures are implemented.
• Manage the performance and development of direct reports.
• Create a performance culture in the division.
• Coach and manage the career development of employees in the division.

Job requirements

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

• a minimum of an Honours degree in Accounting, Banking, Economics, Risk Management, Finance and/or Insurance; and
• at least 10 years’ experience in the insurance market or insurance supervision, with five years’ experience in a senior management position with people management responsibilities.

go to method of application »

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.

go to method of application »

Detailed description

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

• Supervisory oversight of designated banks, banking groups, banking subsidiaries and branches of designated banks (collectively referred to as ‘banks’).
• Assess and analyse the strategies and business models of banks.
• Analyse and assess the business portfolios of banks.
• Analyse and form a supervisory view of the risks facing banks and the impact thereof on their risk profiles.
• Analyse and assess the adequacy and appropriateness of business and risk management practices applied by banks as well as and the alignment thereof with industry best practices.
• Analyse and assess the evolving economic and operating environment and the impact thereof on banks’ risk profiles.
• Identify and monitor emerging risks and the potential impact thereof on the banking sector and individual banks, in particular.
• Develop and apply analytical methods to analyse and interpret risk-based regulatory data submissions.
• Assess compliance with the Banks Act 94 of 1990, the Regulations relating to Banks and Financial Sector Regulation Act.
• Prepare detailed reports based on the outcome of analysis performed.
• Prepare detailed formal feedback to banks following on-site reviews and prudential meetings held with banks’ management, executives, boards and board subcommittees.
• Plan, arrange, prepare for, and conduct on-site reviews and prudential meetings with banks’ management, executives, boards and board sub-committees.
• Present the outcome of ongoing analysis and supervisory assessments to senior management of the Prudential Authority and representatives of banks.
• Maintain permanent electronic records in respect of banks.
• Manage correspondence pertaining to banks.
• Undertake ad hoc projects as assigned by management.
• Perform duties as a relationship manager by, among other things, undertaking frequent, often high-level liaison with banks and other interest groups, such as the external auditors of banks.

Job requirements

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

• A post graduate degree in Accounting, Banking, Economics, Finance, Risk Management or a relevant equivalent qualification; and
• two to five years’ relevant working experience in a regulatory environment or the financial sector.

go to method of application »

Detailed description

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

• Supervise, oversee and participate in supervisory practices.
• Contribute towards maintaining a financially sound and stable insurance sector and the overall financial services sector.
• Contribute towards the development of processes and procedures for the effective implementation of the Insurance Act 18 of 2017 and the prudential standards
• Assess compliance with prudential regulations and applicable financial soundness standards.
• Install a risk-based, pre-emptive, outcomes-based and integrated supervisory framework.
• Review and evaluate the adequacy and appropriateness of the own risk and solvency assessment (ORSA) submissions of each insurer for their specific risk profile.
• Refine the supervisory approach by introducing prudential supervisory best practice.
• Identify cross-sectoral risks and devise appropriate measures to contain them.
• Deploy effective supervisory tools for monitoring insurers’ exposure to the above risks.
• Ensure the sufficiency and appropriateness of the capital and solvency requirements of the assigned insurance entities with respect to all prudential risks.
• Ensure that insurers’ risk management practices and governance structures are adequate and appropriate. 
• Analyse and interpret risk-based regulatory returns.
• Provide guidance and direction to subordinates, including the setting of performance standards and monitoring performance.
• Contribute meaningfully to prudential regulation matters relating to insurance groups.
• Contribute towards the attainment of departmental strategic objectives.
• Mentor, train and motivate staff towards the attainment of departmental goals.
• Manage the attainment of operational objectives.

Job requirements 

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

• a postgraduate qualification (NQF 8) in Accounting, Actuarial Science, Commerce, Economics, Finance, Law or Risk Management, or any other relevant field of study;
• at least 10 years’ experience in the financial services sector, preferably in a prudential regulatory environment; and
• at least 2 years’ experience in managing/supervising subordinates.