The main purpose of this position is to provide strategic direction and managerial leadership to the supervision of large complex financial groups, financial conglomerates and designated systemically important financial institutions (SIFIs), and to ensure the financial soundness and sound governance of the institutions under his/her supervision.Detailed descriptionThe successful candidate will be responsible for the following key performance areas:Promote the safety and soundness of the large complex groups, financial conglomerates and designated SIFIs under his/her supervision.Provide strategic direction in the development, implementation and monitoring of the divisional strategy in accordance with the overall Prudential Authority (PA) strategy, and ensure alignment with the departmental strategy.Contribute to the development and continuous refinement of the supervisory approach to financial conglomerates and designated SIFIs, 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:Lead and manage the day-to-day supervision of large complex groups, financial conglomerates and designated SIFIs.Direct the consistent application of appropriate supervisory practices, protocols, tools and procedures to all the supervised entities allocated to the division.Identify, assess and escalate key risks, and react to key indicators of risks within the department.Oversee the maintenance of the permanent records and correspondence of the large complex group(s), financial conglomerate(s) and/or designated SIFI(s) allocated to the division.Endeavour to uphold an updated risk rating of the supervised entities and financial conglomerates under supervision.Monitor compliance by the supervised entities and financial conglomerates 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 BankEnsure 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; andCoach and manage the career development of employees in the division.Job requirementsTo be considered for this position, candidates must be in possession of:At least a Postgraduate Degree in Accounting, Banking, Economics, Risk Management, Finance and/or Insurance; andAt least ten (10) years' experience in the insurance sector or insurance-related supervisionFive (5) years in a senior management position with people management responsibilities.Additional requirements include:General managementThe financial sector, specifically insurance and the securities industriesCorporate governance and risk management practices and standardsThe Core Principles for Effective Banking Supervision and/or the Insurance Core PrinciplesThe Solvency Assessment & Management (SAM) FrameworkStrategic Planning, Monitoring & Evaluation Manager Public Sector Sandton, Gauteng, South Africa, Office 01, Suite 11 1st floor Daisy Street, Sandown, 2196
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