Description

Brief description

The main purpose of this position is to conduct financial sector prudential policy-related research and analysis in order to monitor and influence the policy positions of international financial sector standard-setting bodies as well as local policy matters set by National Treasury and the legislator. Deliverables will include drafting prudential policy papers, policy positions and regulatory instruments. The role includes engaging with National Treasury, the South African Reserve Bank (SARB), financial sector regulators, industry and other stakeholders in support of South Africa's stance on policy and regulatory matters, with a specific focus on insurance.

Detailed description

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

• Participate in formulating and implementing the Prudential Authority's (PA) strategic objectives.
• Monitor global prudential policy implementation frameworks and their impact on local regulatory frameworks for highly specialised fields across the financial sector, with a specific focus on insurance.
• Analyse the relevance/appropriateness of international standards for the South African financial sector and highly specialised fields in banking, insurance and financial market infrastructures, with a specific focus on insurance.
• Adopt international standards and adapt them to South African requirements so they are both purpose-specific to South Africa and compliant with international criteria.
• Develop and refine regulatory frameworks, instruments and all related work in terms of the Financial Sector Regulation Act 9 of 2017 (FSR Act), with a specific focus on insurance.
• Design and implement cooperation and collaboration mechanisms with the SARB for the purposes of financial stability.
• Contribute to the drafting of the regulatory strategy in order for the PA to fulfil its functions and objectives stipulated in the FSR Act.
• Represent the PA in Parliament and other forums on policy matters and legislation.
• Be a custodian of the PA policy process and related governance processes.
• Lead the completion of international surveys as requested.
• Brief PA divisional heads, heads of department, the PA Chief Executive Officer (CEO), the Prudential Committee (i.e. the Governor and deputy governors) and other relevant governance structures on policy positions on specialised topics.
• Represent the PA at various public forums (e.g. by providing training, giving lectures and making presentations at conferences).
• Influence international standard-setting bodies and possibly represent the PA at such forums.
• Lead and ensure the PA ‘house view' in collaboration with the SARB and other regulators.
• Conduct and coordinate ad hoc research on topics related to prudential regulation.
• Draft speeches for the CEO, Governor and deputy governors on specialist topics.
• Prepare briefings on specialist topics for the CEO, Governor and deputy governors as well as heads of department to represent the PA/SARB view locally and internationally.
• Take ownership and responsibility for the implementation of microprudential matters within the PA's mandate and in support of the SARB's financial stability mandate.

Qualifications

Job requirements

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

• a postgraduate degree (NQF 9) in Law (preferable), Finance, Accounting, Insurance/Banking or Economics; and
• 12 years' experience in the insurance sector, broader financial sector or regulation within the financial sector.

Additional requirements include:

• knowledge of:
  • the financial sector, specifically the insurance industry;
  • corporate governance and risk management practices and standards;
  • insurance core principles;
  • Solvency II or solvency assessment and management;
• skill in:
• problem-solving and analysis;
• planning and organisation;
• verbal and written communication;
• giving strong presentations;
• the ability to:
• be a team player;
• take initiative;
• pay attention to detail;
• uphold confidentiality; and
• financial and business acumen.

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 experience and competence.