Manager: Insurance Supervision

-The primary objective of this position is to prudentially supervise the activities of insurance entities within financial conglomerate groups in respect overall governance and management of all risk types in accordance with applicable legislation, including sub-ordinated legislation (prudential standards). The scope of risks regulated includes insurance, cyber, counterparty, credit, liquidity, underwriting, market, solvency, operational risks and so forth. -Detailed Description - Supervise, oversee, and participate in supervisory processes and practices. - Contribute towards maintaining a financially sound and stable insurance sector and the overall financial services sector. - Assess and monitor compliance with prudential requirements and applicable Governance, Financial Soundness and Reporting standards. - Install a risk-based, pre-emptive, outcomes-based, and integrated supervisory framework. - Contribute towards the development of processes and procedures for effective implementation of the Insurance Act and the prudential standards. - Review and evaluate the adequacy and appropriateness of the own risk and solvency assessment (ORSA) submissions of each insurer and insurance group for their specific risk profile. - Recommend refinement to the supervisory approach by introducing prudential supervisory best practices. - Deploy effective supervisory tools for monitoring insurers/ insurance group’s exposure to the above risks. - Identify cross-sectoral risks and devise appropriate measures to contain them. - Ensure the sufficiency and appropriateness of capital and solvency requirements of the assigned insurance entities and insurance group with respect to all prudential risks. - Ensure that the insurers’ and insurance group’s risk management practices and governance structures are appropriate. - Review analysis and recommendations from the reporting supervisory team and implement and monitor appropriate supervisory action. - Provide guidance and direction to subordinates, including setting performance standards and monitor performance. - Make valuable contribution to prudential regulation matters relating to financial conglomerates. - Contribute towards attainment of department strategic objectives. - Mentor, train and motivate staff towards attainment of a common goal. - Manage the attainment of operational objectives. Job Requirements - a postgraduate degree in Finance, Accounting, Insurance, Banking, Economics or related field; - at least eight years’ experience in the financial services or financial regulatory sector; and - at least two years’ proven experience of managing a team. Additional requirements include: - Understanding of the International Association Insurance Supervisors (IAIS) insurance core principles; - conversant with the Solvency Assessment and Management requirements, at both a theoretical and practical level; - knowledge of the modern principles, practices, and techniques of prudential supervision; - working knowledge of the Insurance Act, and associated laws and regulations; - understanding of key regulatory issues facing insurance companies, banks, and financial conglomerate groups; - knowledge of, and experience in, the, financial sector, risk models and systems; - knowledge of relevant risk management practices and standards. - thought leadership; - professionalism and strong ethical values; - people management skills; - ability to engage with executive management on technical aspects; - ability to plan and supervise work of others; - exceptional attention to detail; - ability to exercise independent judgement; - strong oral, written, and overall communication skills; - time management and negotiation skills; - problem solving abilities and analytical skills; and - ability to influence, build and maintain relationships. How To Apply -All interested parties are invited to apply. -- All available vacancies will be visible. - Login> - Is this your first visit to our Job Site?>Register today (Ensure that you include all your skills and qualifications during the registration process.); OR - Already registered on our Job Site?>Already registered?>Login here - Date posted>Last 3 weeks (in the dropdown menu) - Select the appropriate IRC number to view the full advertisement. 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 experience and competence. Ms Sarah Molomo Senior Manager: Recruitment and Selection Human Resources Department Currency -ZAR -Amount of Travel -Work At Home