Manager - Market Risk (Insurance, Fmis and

2 months ago

Pretoria, South Africa South African Reserve Bank Full time

-The main purpose of this position is to manage a team of market risk specialists within the Market Risk Division in the Prudential Authority (PA) at the South African Reserve Bank (SARB). The scope of this position spans market risk, counterparty credit risk, margin requirements and other areas deemed appropriate across insurers, financial market infrastructures and other relevant financial institutions impacted by specific cross-sectoral regulations or market initiatives falling within the scope of the division.
-Detailed Description

- Conceptualise, monitor and manage operational work plans drawn from the division’s strategy (primarily focused on markets analysis, regulation and supervision), and provide managerial direction, leadership and technical guidance to a team of market risk specialists.
-- Perform supervisory duties for relevant areas and financial institutions, including assessing compliance with applicable regulations and standards.
-- Develop fit-for-purpose regulatory instruments, including subsequent attendance to all post
- implementation matters.
-- Conduct quantitative and q ualitative research, and develop and implement appropriate analytical techniques, procedures and controls to enhance regulatory capability and supervisory depth.
-- Work collaboratively on relevant initiatives with other teams within and outside of the division, including providing expert technical input to supervisory teams, policy development specialists and other stakeholders.
-- Manage stakeholder engagements and relationships (internal and external to the PA).
-- Manage team performance, learning and development, succession planning and talent development.
-- Identify and mitigate risks related to own function, and ensure compliance with relevant governance frameworks.
-Job Requirements

- a postgraduate degree (at least NQF level 8) in Computer Science, Economics, Finance, Insurance Investment Management, Mathematics, Statistics, or another relevant quantitatively focused degree;
-- at least 8-10 years of relevant working experience in the financial services or financial regulatory sector;
-- relevant knowledge of and experience in the insurance and financial market infrastructure environments, market risk, counterparty credit risk and/or quantitative analytics (including model development, validation, etc.) focused on investments and financial derivatives; and
-- at least 2 years of proven experience in managing teams.
-The following would be an added advantage:

-- being a Chartered Financial Analyst (CFA );
-- being a Financial Risk Manager (FRM );
-- having a Certificate in Quantitative Finance (CQF) or another appropriate industry-recognised certification; and/or
-- having a Master of Business Administration (MBA) degree or another relevant Master’s-level (or higher) management-related degree.
-Job-related knowledge:

-- a critical understanding of local and global financial markets, derivative instruments, financial risk management principles, as well as investment and margin practices;
-- sound knowledge of insurance and financial market infrastructure (particularly central counterparties) business models;
-- functional knowledge across the core activities of such businesses leading to the generation of market and counterparty credit risk, technology enablement areas, market risk, counterparty credit risk, audit etc.;
-- sound knowledge of appropriate trading, investment, operations and risk management systems used by insurance, financial market infrastructures (as appropriate) and other relevant supervised financial institutions;
-- sound knowledge of pricing, investment and risk models and methodologies across the trading, investment and risk environments;
-- knowledge of the relevant International Association of Insurance Supervisors (IAIS), International Organization of Securities Commissions (IOSCO), as well as Solvency Assessment and Management (SAM) frameworks as relevant to market risk, counterparty credit risk etc.;
-- working knowledge of the Insurance Act 18 of 2017 and the Financial Markets Act 19 of 2012, and associated laws and regulations;
-- working knowledge of the various legislation and supervisory frameworks applicable to financial entities registered in South Africa; and
-- an understanding of the critical issues and risks facing financial entities in South Africa, with a specific focus on the financial markets.
-Job-related skills and attributes:

-- a robust yet adaptable management approach;
-- highly structured and methodical work techniques;
-- thought leadership;
-- problem -solving and analysis skills;
-- the ability to lead change;
-- establishing focus;
-- driving results;
-- promoting teamwork and collaboration;
-- developing and growing others;
-- a service and stakeholder focus;
-- being highly articulate;
-- effective verbal and written communication skills, including report
- writing;
-- building and maintaining relationships;
-- project experience;
-- high resili

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