Associate Insurance Analyst at SARB, Pretoria
South African Reserve Bank · Pretoria, Gauteng
Overview
Join the South African Reserve Bank as an Associate Insurance Analyst in Pretoria, where you will help supervise insurers and insurance groups to keep the market fair and stable. This full time role suits a young professional with a postgraduate qualification and two to five years of insurance or risk management experience. You will analyse risk based returns, review ORSA reports, and work with local and international regulators. It is a strong next step if you want meaningful work in financial supervision at one of the country's most respected institutions.
About the role
As an Associate Insurance Analyst in the Bank Insurance and Supervision Department at the SARB, you will play a hands on role in supervising insurers and insurance groups within your portfolio. Your work will combine off site analysis with on site reviews, giving you a real view of how insurance entities operate and manage risk.
Day to day you can expect to review and evaluate ORSA processes and reports, assess risk based regulatory returns, and develop supervisory plans for the insurers you look after. You will also process notifications and applications, recommend approvals or declines, and help coordinate supervisory interventions when needed.
You will research regulatory and legislative developments, contribute to supervisory guidance, and engage with internal teams, insurers, financial institutions, and both local and international regulators. The role also involves maintaining supervisory records and databases so that information stays accurate and useful.
Application note: You will apply on the SARB's own system through the link provided. Preference will be given to suitable candidates from designated groups, and people with disabilities are welcome to apply.
Requirements
- A postgraduate qualification in Accounting, Insurance, Actuarial Science, Risk Management, Finance or an equivalent qualification (NQF 8).
- A minimum of two to five years working experience in the insurance sector, or insurance related experience in the wider finance sector or risk management environment.
- Ability to travel as and when required.
- Strong problem solving and analytical skills and experience.
- Financial and business acumen.
- Attention to detail.
- Excellent verbal and written communication skills.
- The ability to manage time effectively and efficiently.
- Proven ability to influence, build and maintain relationships.
- Being conversant with the Insurance Act at both a theoretical and practical level.
- Knowledge and understanding of the Insurance Core Principles for Insurance Supervision.
- Working knowledge of legislation and supervisory frameworks applicable to insurance entities registered in South Africa.
- Knowledge of key issues and risks facing registered insurers and insurance groups in South Africa.
- Knowledge and understanding of financial products and the risks they pose.
- Proven knowledge of the financial sector, specifically the insurance industry.
- Knowledge and understanding of corporate governance as well as risk management best practice and standards.
Responsibilities
- Review, analyse and evaluate licensed insurers' and designated insurance groups' Own Risk and Solvency Assessment (ORSA) processes and reports.
- Analyse, interpret and assess risk based regulatory returns and other supervisory information.
- Supervise insurers and insurance groups in the allocated portfolio through a combination of on site and off site analysis to identify, assess and mitigate prudential risks.
- Develop and implement risk based supervisory plans for allocated insurers and insurance groups.
- Process notifications and applications from insurers and insurance groups and make recommendations on approval or decline.
- Assist with the coordination and implementation of supervisory interventions in line with the supervisory ladder of intervention.
- Conduct research and provide input into the development, implementation and enhancement of the regulatory and legislative framework, taking international best practices into account.
- Promote efficient, fair and sustainable insurance markets as well as policyholder protection.
- Maintain supervisory records, databases and other relevant information for the allocated portfolio.
- Liaise and collaborate with internal stakeholders within the Prudential Authority and the South African Reserve Bank.
- Engage with insurers, financial institutions, local and international regulators, and other relevant stakeholders.
- Contribute to the development of supervisory guidance, public documents and other insurance supervision publications.
Benefits
Remuneration and benefits commensurate with the level of the position and in line with the market
Job details
- Organisation
- South African Reserve Bank
- Location
- Pretoria, Gauteng
- Job type
- Full time
- Experience level
- Mid (2+ years)
- Education
- Postgraduate diploma
- Category
- Banking & Insurance
- Posted
- 29 October 2026 (1 week ago)
- Application Method
- Apply online
Success Guide
Applying to the SARB is a bit different from many other employers, so take your time with the online portal. Before you start, make sure your CV clearly shows your postgraduate qualification and the two to five years of insurance or risk related experience the role asks for. Use plain language to describe your exposure to ORSA, risk based returns, and the Insurance Act, because those details matter here.
In an interview, expect questions that test how you think about prudential risk and how you would handle a supervisory conversation with an insurer. Be ready to explain your analytical approach and give examples of times you built relationships with stakeholders. Also double check that all your documents are uploaded in the format the portal accepts, and submit before the closing date listed on the SARB site.
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