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Manager: Insurance Supervision

Job Reference

LASRB001

Region

Southern Africa

Reference: LASRB001
Our client is a large banking firm seeking to employ a Manager: Insurance Supervision.
The primary objective of this position is to supervise the activities of insurance entities within financial conglomerate groups in respect of prudential regulations relating to governance and management of all risk types. The scope of risks regulated includes insurance, cyber, counterparty, credit, liquidity, underwriting, market, solvency, operational risks and so forth.

Responsibilities include:
  • Supervise, oversee and participate in supervisory practices.
  • Contribute towards maintaining a financially sound and stable insurance sector and the overall financial services sector.
  • Assess compliance with prudential regulations and applicable financial soundness 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 Bill and the prudential standards.
  • Review and evaluate the adequacy and appropriateness of the own risk and solvency assessment (ORSA) submissions of each insurer for their specific risk profile.
  • Refine the supervisory approach by introducing prudential supervisory best practices.
  • Deploy effective supervisory tools for monitoring insurers’ 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 with respect to all prudential risks.
  • Ensure insurers’ risk management practices and governance structures are adequate entities and analyse and interpret risk-based regulatory returns.
  • 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.
Qualifications and Experience include:
  • 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:
  • The insurance core principles and the Basel core principles for banking supervision;
  • Conversant with the Solvency Assessment and Management requirements and the Basel III regulatory regime, at both a theoretical and practical level;
  • Knowledge of the modern principles, practices, and techniques of prudential supervision;
  • Working knowledge of the Insurance Bill, the Banks Act, Companies 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 banking system, financial and banking products, 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.
 
 
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