Junior Insurance Analyst

2 weeks ago


Pretoria, Gauteng, South Africa South African Reserve Bank Full time

  • The purpose of this position is to perform prudential oversight of registered 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
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).
  • Regularly update and/or prepare the initial risk assessment document for an insurer and insurance group, considering the operational structure, business model, financial information, governance and own risk and solvency assessment (ORSA), including recommendations to close identified gaps.
  • Prepare packs for onsite visits.
  • Attend onsite visits and participate in engagements under the guidance of a senior analyst/manager.
  • Draft memorandums and reports relating to the outcomes of onsite visits.
  • Maintain databases and records of all relevant information on insurers and insurance groups within the assigned portfolio.
Job Requirements
a Bachelor's degree (NQF 7) in Accounting, Banking, Economics, Finance or Law; and
- two years' experience in the insurance sector, finance sector or risk management environment.

Additional requirements include:
- accounting or legal 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; and

  • IAIS and IOSCO principles, standards and relevant legislation.
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**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.
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