Job 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:

• 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).
• Supervise insurers and insurance groups within the allocated portfolio through a combination of on-site and off-site supervisory tools, focusing on quantitative and qualitative information, to identify and assess risks and to propose mitigating actions.
• Prepare for and attend on-site visits and participate in engagements under the guidance of a senior analyst/manager.
• Maintain databases and records of all relevant information on insurers and insurance groups within the allocated portfolio.
• Liaise with and provide appropriate feedback to internal and external stakeholders after consultation with the manager

To be considered for this position, candidates must be in possession of:

• a postgraduate qualification (NQF 8) in finance, accounting, insurance, actuarial science or risk management; and

• at least 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:

• problem-solving and analytical skills;
• teamwork
• financial and business acumen;
• attention to detail;
• verbal and written communication skills;
• time management skills;
• the ability to maintain confidentiality; and
• building and maintaining relationships.

Job-related knowledge:

• financial sector knowledge, specifically of the insurance industry
• knowledge of corporate governance and risk management practices and standards; and
• knowledge of IAIS principles, insurance standards and relevant legislation

In line with the SARB’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply.

The SARB 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/her competence and experience.

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.