South African Reserve Bank is Recruiting for an Entry Level PostSouth African Reserve Bank is currently looking for a Junior Insurance Analyst to be based in Pretoria, Gauteng.
Closing date: 29 August 2024 Location: Pretoria, Gauteng Brief description The main purpose of this position is to perform prudential oversight of licensed insurance companies on a solo and group level through a combination of on-site and off-site monitoring and supervision to ensure the financial soundness and sound governance of insurance entities.
Detailed description The successful candidate will be responsible for the following key performance areas:
Process notifications and applications of a financial and non-financial nature and make recommendations in terms of the Insurance Act 18 of 2017 for approval or decline.Prepare and implement the 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).Update and/or prepare the initial risk assessment document for an insurer and insurance group, taking into account the operational structure, business model, financial information, governance, and own risk and solvency assessment (ORSA), including recommendations to close identified gaps.Prepare packs for on-site visits.Attend on-site visits and participate in engagements under the guidance of a senior analyst/manager.Draft memorandums and reports relating to the outcomes of on-site visits.Maintain databases and records of all relevant information on insurers and insurance groups within the assigned portfolio.Liaise with and provide appropriate feedback to internal and external stakeholders after consultation with the manager.QualificationsJob requirements To be considered for this position, candidates must be in possession of:
a postgraduate qualification (NQF 8) in Accounting, Banking, Economics or Finance; andtwo years' experience in the insurance sector, finance sector or risk management environment.Additional requirements include:
accounting articles (would be an added advantage);problem-solving and analytical skills;financial and business acumen;attention to detail;verbal and written communication skills;time management skills;the ability to maintain confidentiality;building and maintaining relationships;financial sector knowledge, specifically of the insurance industry;corporate governance and risk management practices and standards; andIAIS and IOSCO principles, standards and relevant legislation.CLICK HERE TO APPLY
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