South African Reserve Bank: Junior Insurance Analyst

By | July 20, 2020

To perform prudential oversight of registered insurance companies on a solo and group level through a combination of off-site and on-site monitoring and supervision to ensure financial soundness and sound governance of insurance entities.

South African Reserve Bank: Junior Insurance Analyst 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.

South African Reserve Bank: Junior Insurance Analyst Job Requirements

To be considered for this position, candidates must have:

  • be in possession of a Bachelor’s degree in finance, law, accounting, insurance, banking, economics, actuarial or a relevant equivalent qualification; and
  • preferably up to two years’ experience in the insurance sector, or insurance-related experience in the wider finance sector or risk management environment.

Job-related skills and attributes:

  • ability to learn;
  • teamwork;
  • attention to detail;
  • time management;
  • excellent verbal and written communication skills and experience;
  • ability to effectively and efficiently manage time;
  • ability to influence, build and maintain relationships

Job-related knowledge:
· basic knowledge of Insurance Act;· basic knowledge and understanding of the Insurance Core Principles for Insurance Supervision;· basic knowledge of the various legislation and related supervisory frameworks applicable to insurance entities registered in South Africa ;· basic knowledge and understanding of key issues and risks facing registered insurers in South Africa;· basic knowledge and understanding of financial products and the risks they pose;

How To Apply

All interested parties are invited to apply.Internal applicant: Please note that internal applicants MUST apply through the ERP system.
External applicant: External applicants MUST apply online, via www.resbank.co.za .
· All vacancies will be visible.· Please follow the links Careers@SARB > Current vacancies .· L ogin >

o Is this your first visit to our Job Site? > Register today (ensure that you list all your qualifications and skills during the registration process) OR

o Already registered on our Job Site? > Login here· Select Date posted > Last 7 weeks (in the dropdown menu).· Select the appropriate IRC number to view the full advertisement.
Shortlisted applicants will be subjected to psychometric assessment, and an appropriate reference check and security clearance as part of the selection process.
The closing date for applications is 31 July 2020. Late applications will not be considered.
In line with the Bank’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply.
The Bank offers remuneration and benefits commensurate with the level of the position and in line with the market. The level at which the successful applicant will be appointed will depend on his or her experience and competence.
Ms Sarah MolomoSenior Manager: Recruitment and SelectionHuman Resources Department

CurrencyZAR

Amount of Travel

Work At Home

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