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Insurance Analyst

Insurance Analyst

South African Reserve BankPretoria, ZA
26 days ago
Job description

Job title : Insurance Analyst

Job Location : Gauteng, Pretoria

Deadline : October 01, 2025

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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.

    • Qualifications

    Job requirements

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

  • a postgraduate qualification (NQF 8) in Accounting, Banking, Economics, Finance, Actuarial Science Insurance or Risk Management, or a relevant equivalent qualification; and
  • at least 5–8 years of relevant working experience in a regulatory environment or the financial sector.
  • Knowledge and exposure to Insurance Act, FSR Act, GOI and FSI Standards

    • Additional requirements include :

  • problem-solving and analytical skills;
  • financial and business acumen;
  • attention to detail;
  • excellent verbal and written communication skills;
  • time management;
  • confidentiality;
  • influence;
  • building and maintaining relationships;
  • knowledge of the financial sector, specifically of the insurance industry;
  • knowledge of corporate governance as well as risk management practices and standards; and
  • knowledge of the International Association of Insurance Supervisors (IAIS) principles and standards as well as other relevant legislation.
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