(1551) Insurance Analyst at South African Reserve Bank

Pretoria, Gauteng, South Africa -

Full Time

Start Date

Immediate

Expiry Date

08 Jun, 26

Salary

0.0

Posted On

10 Mar, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Risk Management, Solvency Assessment, Regulatory Returns, Regulatory Framework, Capital Management, Supervisory Review, Financial Stability, Prudential Regulation, Financial Markets, Financial Surveillance, Time Management, Verbal Communication, Written Communication, Microsoft Office

Industry

Banking

Description

Brief description The main purpose of this position is to ensure that the Prudential Authority (PA) can discharge its responsibilities arising from its mission insofar as capital management is concerned. Detailed description The successful candidate will be responsible for the following key performance areas: • Review, analyse and evaluate non-life insurers’ own risk and solvency assessment process. • Analyse and interpret risk-based regulatory returns for non-life insurers. • Conduct research and provide input into the regulatory framework in line with international best practice. • Interpret and develop amendments to the legislative framework, based on international best practices. • Contribute towards the international capital framework working committees. • Develop and implement the supervisory review and evaluation process, in line with international best practice. About SARB Primary mandate of the SARB Section 224 of the Constitution of South Africa states the mandate of the SARB as follows: The primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic. The South African Reserve Bank, in support of its primary objective, must perform its functions independently and without fear, favour or prejudice. WHAT WE DO Monetary Policy The Constitution gives the SARB the mandate to protect the value of the rand. We use interest rates to keep inﬂation low and steady. Financial Stability The SARB has a mandate to protect and enhance ﬁnancial stability. We identify and mitigate systemic risks that might disrupt the ﬁnancial system. Prudential Regulation The Prudential Authority regulates ﬁnancial institutions and market infrastructures to promote and enhance their safety and soundness, and support ﬁnancial stability. Financial Markets Open market operations are the main tool we use to implement monetary policy. We manage South Africa’s gold and foreign exchange reserves. Financial Surveillance The SARB is responsible for regulating cross-border transactions, preventing the abuse of the financial system and supporting the regulation of financial institutions. Payments and Settlements The SARB is responsible for ensuring the safety and soundness of the national payment system, which is the backbone of South Africa’s modern ﬁnancial system. Statistics The SARB provides important economic and ﬁnancial statistics that present an overview of the economic situation in South Africa. Research Research conducted by the SARB focuses on economics, ﬁnancial stability, banking and emerging trends in ﬁnance. Our research supports policy decision-making. Banknotes and Coin The SARB has the sole right to make, issue and destroy banknotes and coin in South Africa.

Responsibilities

The main purpose of this role is to ensure the Prudential Authority can meet its capital management responsibilities by reviewing and analyzing non-life insurers' risk assessments and regulatory returns. Key tasks involve conducting research, contributing to the regulatory framework based on international best practices, and developing the supervisory review process.