Junior Insurance Analyst [South Africa]

 

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

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The successful candidate will be responsible for the following key performance areas:

· Process notifications and applications of a financial and non-financial nature and recommend if they should be approved or declined.

· 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 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.

Job Requirements

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

· 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.

How To Apply

All interested parties are invited to apply.

Internal applicants MUST apply through the SARB’s ERP system.

External applicants MUST apply online, via www.resbank.co.za .

· All the available vacancies will be visible.

· Please follow these links: WORK@SARB > Current vacancies .

· 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 .

· Select ‘Date posted’ > ‘Last 3 weeks’ (in the drop-down menu).

· Select the appropriate IRC number to view the full advertisement.

Do not enclose copies of your identity document or qualifications with your application.

Shortlisted applicants will be subjected to a psychometric assessment, an appropriate reference check and a security clearance as part of the selection process.

The closing date for applications is 5 July 2023. Late applications will not be considered.

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.

Human Resources Department

Currency

Amount of Travel

Work At Home

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