Principal

Category: Insurance / Reinsurance

Job Description:

Perform and lead a team responsible for regulatory supervision activity including monitoring Insurers performance, analyzing regulatory reporting and undertaking appropriate supervisory actions in line with legislation and/or strategic business goals.

Responsibilities

Undertake on-site reviews and analysis of selected business and their respective capital models by utilizing various risk assessment methodologies to evaluate compliance with existing laws, regulations, policies, plans and procedures and/or identify risk issues and formulate reports on findings for submission and discussion with management.
Develop agenda, schedule and attend prudential meetings with financial entities to discuss findings of review, minute discussions/decisions and develop corrective action plan as appropriate.
Reviews documents/reports/recommendations from staff on regulatory or operational matters and determines appropriate course of action.
Undertake projects utilizing skills that relate to meeting the departments supervisory and regulatory responsibilities.
Monitor the market with specific focus on developments in the insurance industry (local and international), regulatory bodies/regimes, accounting standards as well as market information on insurance companies via monitoring of key indicators, newspapers, periodicals, media and relevant websites.
Monitor identified Companies with compliance issues by review, memoranda and timely direct follow up with Company representatives.
Review applications in accordance with existing legislation
Perform other related work and special projects as assigned by senior management in accordance with competencies normally associated with the post.
Participate in local and international meetings, conferences, seminars with other regulatory bodies, governmental agencies and the financial services industry.
Perform other related work and special projects as assigned by management in accordance with competencies normally associated with the position.

Staff Responsibilities

Provide first line leadership to assigned team, at the Analyst and Senior
Analyst level.
Acts as a senior level subject matter expert resource to the team(s).
Monitor performance of individual team members and provide routine mentoring and feedback; prepare formal performance appraisal reports as prescribed by the performance management process.
Identify training needs of employees and in conjunction with core competencies and L&D establish programmes for their development by way of formal training courses, special projects or on the job exposure.

Education
Masters Degree or equivalent qualification in a financial or accounting discipline from a recognized institution or professional body

Experience
Minimum of seven (7) years relevant post graduate experience of which at least (3) years should be at a senior level working within a regulated financial services business, preferably in Insurance - General insurance and Long Term, or as a financial services regulator,

Experience conducting or participating in forensic investigations or inspections would be beneficial.

Type of Position: Temporary

Posting Date: 04/07/2012 Closing Date:04/08/2012