(1273) Policy Analyst -PSISD at South African Reserve Bank

Detailed description

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

•   Implement the SARB’s microprudential regulation and supervision strategic objectives. 
• Analyse the relevance and appropriateness of developments in international standards as they impact the mandate of the Prudential Authority (PA). 
• Administer and implement prudential policy and prudential policy tools. 
• Design and implement cooperation and collaboration mechanisms with the SARB to support financial stability. 
• Conduct research based on international best practices and practices in other jurisdictions that are similar to the South African insurance market to better inform the development of a robust insurance regulatory framework for the South African insurance market. 
• Analyse domestic and global regulations and their impact in the field of insurance.
• Monitor the implementation of global insurance prudential policy frameworks and their impact on local insurance regulatory frameworks.
• Develop and/or refine insurance regulatory frameworks and insurance policy position instruments within the PA’s mandate.
• Participate in industry engagement sessions as well as engagements with other financial sector regulators and internal stakeholders in the development of insurance regulatory frameworks for the PA.
• Administer and implement prudential policy and prudential policy tools. 
• Design and implement cooperation and collaboration mechanisms with the SARB to support financial stability. 
• Draft regulatory frameworks and policy instruments.
• Represent South Africa and influence international standard-setting bodies. 
• Support senior team members in representing the PA in Parliament and other forums on policy matters and legislation related to insurance. 
• Adopt and tailor international standards to suit South African requirements, ensuring they are fit for purpose and compliant with international criteria. 
• Be a custodian of the PA Policy Panel and related governance processes, including the secretariat functions, which ultimately report to the Prudential Committee of the PA. 
• Coordinate and finalise international surveys. 
• Provide input into the regulatory strategy for the PA to fulfil its functions and objectives as stipulated in the Financial Sector Regulation Act 9 of 2017 (FSR Act). 
• Draft and assist in maintaining memorandums of understanding with other financial sector regulators such as the Financial Sector Conduct Authority, National Credit Regulator, Financial Intelligence Centre and the SARB. 
• Brief divisional heads, heads of department (HoDs), the Chief Executive Officer (CEO), Governor and deputy governors on policy positions regarding specialised topics related to insurance. 
• Represent the PA at various public forums such as training, lectures and conferences. 
• Coordinate the PA’s ‘house view’ in collaboration with the SARB and other regulators. 
• Conduct and coordinate ad hoc research on prudential-related topics. 
• Draft speeches for the HoDs, CEO, Governor and deputy governors on specialist topics. 
• Prepare briefings on specialist topics for the CEO, Governor, deputy governors and HoDs to represent the PA/SARB view locally and internationally. 
• Assist with the implementation of all future microprudential matters within the mandate of the PA. 

Job requirements

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

• a postgraduate qualification in Law, Finance, Economics or an equivalent qualification; and
• a minimum of five to eight years’ experience in conducting policy-related research, drafting regulatory instruments or formulating policy, with strong analytical skills in a relevant field.

The following would be an added advantage:

• practical experience within the insurance regulatory environment; and
• practical experience in conducting research, and proven drafting and analytical skills in the financial sector.
• knowledge of the financial sector, specifically insurance core principles, the Insurance Act 18 of 2017, FSR Act, and solvency assessment and management, including insurance prudential supervision;