Job Description

Brief description

The main purpose of this position is to perform prudential oversight over registered insurance companies on a solo and group level through a combination of on- and off-site monitoring and supervision to ensure the financial soundness and sound governance of these insurance entities.

Detailed description

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


Supervise insurers and insurance groups within the portfolio through a combination of on- and off-site supervisory tools, focusing on both quantitative and qualitative financial and non-financial information, to identify and assess risks and then propose mitigating actions. Provide input into the development and implementation of a prudential risk-based supervisory plan for each insurer and insurance group within the portfolio. Provide input and assistance into the development and implementation of the regulatory framework. Analyse quantitative and qualitative data through the statutory submissions received from insurers and insurance groups. Assist with, and provide input into, the co-ordination and implementation of interventions for problematic insurers and/or insurance groups, as per the supervisory ladder of intervention. Maintain databases and records of all relevant information on the insurers and insurance groups within the portfolio. Liaise and collaborate with other relevant departments within the Prudential Authority (PA) and the South African Reserve Bank (SARB). Assist with, and provide input into, the development of public documents relating to insurance supervision. Liaise with the industry, other regulators (local and international) and relevant financial institutions. Process the notifications and applications of a financial and non-financial nature. * Promote efficient, fair and sustainable insurance markets as well as policyholder protection.