Divisional Head Conglomerate Supervision-FCSD at South African Reserve Bank

Detailed description

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

• Promote the safety and soundness of the large complex groups, financial conglomerates and designated SIFIs under his/her supervision. 
• Provide strategic direction in the development, implementation and monitoring of the divisional strategy in accordance with the overall Prudential Authority (PA) strategy, and ensure alignment with the departmental strategy;
• Contribute to the development and continuous refinement of the supervisory approach to financial conglomerates and designated SIFIs, taking into consideration the current, emerging, systemic and supervised entity-specific risks;
• Manage the supervisory oversight of the entities supervised by the division, including, but not limited to:
• Lead and manage the day-to-day supervision of large complex groups, financial conglomerates and designated SIFIs; 
• Direct the consistent application of appropriate supervisory practices, protocols, tools and procedures to all the supervised entities allocated to the division; 
• Identify, assess and escalate key risks, and react to key indicators of risks within the department;
• Oversee the maintenance of the permanent records and correspondence of the large complex group(s), financial conglomerate(s) and/or designated SIFI(s) allocated to the division; 
• Endeavour to uphold an updated risk rating of the supervised entities and financial conglomerates under supervision;
• Monitor compliance by the supervised entities and financial conglomerates with the applicable regulatory framework, which includes prudential standards and regulations.
• Manage the operationalization and implementation of decision-making frameworks, protocols and procedures; 
• Ensure compliance with all the legislative and regulatory requirements of the South African Reserve Bank;
• Ensure that the risks of the division are identified and assessed, and that risk-effective mitigating measures are implemented;
• Manage the performance and development of direct reports;
• Create a performance culture in the division; and
• Coach and manage the career development of employees in the division.

QUALIFICATIONS

Job requirements

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

• at least a Postgraduate Degree in Accounting, Banking, Economics, Risk Management, Finance and/or Insurance; and
• at least ten 10 - 12 years’ experience in the insurance sector or insurance-related supervision
• five (5) years in a senior management position with people management responsibilities.

Additional requirements include:

Job related knowledge:

• General management;
• The financial sector, specifically insurance and the securities industries;
• Financial management;
• Corporate governance and risk management practices and standards;
• The Core Principles for Effective Banking Supervision and/or the Insurance Core Principles; 
• The Solvency Assessment & Management (SAM) Framework;
• The Basel III Capital Framework;