Job Description

Brief description

The main purpose of this position is to provide comprehensive and effective insurance legal expertise and advice in the development of principles, frameworks, policies, legislation, regulatory action, enforcement structures and related litigious issues to support the South African Reserve Bank (SARB) Group, including the Prudential Authority (PA), with a special focus on Insurance and Financial Sector Law (Insurance Act, 2017 (Act No. 18 of 2017) read with the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017) (FSRA)).


The incumbent may also be required to lead a team of legal consultants in the provision of legal advice and contribute proactively to the mitigation of legal risk within the SARB and the PA.

Detailed description

The successful candidate will be responsible for, but not limited to, the following key performance areas:


Conduct and integrate research into emerging or changing domestic legislation, international financial regulatory trends and changes, case law and other legal matters affecting the SARB, PA and Insurance sector. Proactively identify, address and manage potential legal risks within the SARB and the PA. Take responsibility for monitoring, reviewing and commenting on local and international legislation, regulation and policies that have an impact on the mandate of the SARB and the PA, and advise senior management and other stakeholders on any developments. Steer legal processes for internal clients on complex legal challenges and disputes affecting their operations. Provide legal advice, opinions and guidance to the SARB and the PA on the current legislative framework, on supervisory action, supervisory challenges and optimal regulatory action. Participate in negotiations to draft, vet and amend multi-party agreements on relevant positions, policies, principles, litigation matters and regulatory action matters, in respect of the SARB Group, PA and insurance sector. Initiate legislative amendments or review drafts of new legislation in accordance with standard policies and procedures to address specific concerns of the SARB and the PA. Lead special projects to ensure that mandated and informed positions are developed and presented to stakeholders. Support and maintain strong professional relationships with panel attorneys' firms and manage complex litigation in accordance with standard policies and procedures in conjunction with panel firms. Take responsibility for addressing issues pertaining to relevant legislation applicable to the SARB and the PA. Represent the department, the SARB and the PA on national, regional and international committees and report on, and provide guidance, advice and legal opinions to, the above-mentioned committees. Participate in various relevant legal practice groups of the LSD as a member or as lead. Contribute to and support the strategic objectives of LSD and the SARB Group. Provide regular updates and progress reports on all instructions for the purpose of management information, consistency of application of legislation/opinion to manage reputational and legal risk. Institutionalise processes to enhance efficiencies within the SARB and the PA. * Coach, transfer knowledge, mentor and develop legal counsel.