(1288) Manager – Insurance Supervision (x2) -BISD at South African Reserve Bank

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.

Method of Application
Submit your CV and Application on Company Website: