Insurance Balance Sheet Management Analyst

FNB South Africa; Johannesburg; On-site; ZAR 200 000 - 300 000; Full time

Job summary

A leading South African financial institution is seeking a Balance Sheet Management Analyst to manage portfolio risks and implement hedging solutions. You will perform scenario modelling and support the formulation of investment strategies while ensuring compliance with regulations. Candidates should have a post-graduate degree and at least 5 years of relevant experience. The role offers opportunities to collaborate in a dynamic environment, with a focus on enhancing ALM processes to optimize capital usage.

Benefits

Networking opportunities

Innovative working environment

Challenging tasks

Qualifications

• Minimum 5 years of experience in insurance ALM/BSM or investment risk analytics.
• Strong knowledge of SAM, IFRS17 and related regulations.
• Ability to communicate findings clearly to senior stakeholders.

Responsibilities

• Manage BSM Portfolio risks by implementing appropriate hedging solutions.
• Perform scenario and sensitivity modelling across liabilities.
• Review ALM risk reports to ensure proper exposure reporting.

Skills

Strong analytical skills

Proficiency in Excel

Advanced quantitative modelling

Attention to detail

Strong communication skills

Education

Post‑graduate degree in Actuarial Science or related field

Job description

Job Description

To ensure all Balance Sheet Management requirements are met by managing the BSM Portfolio risks and implementing the appropriate hedging solutions, reviewing ALM risk reports to ensure all risk exposures and limits are properly reported to reflect ALM risks of insurance businesses and optimize ALM and BSM processes for any potential enhancement opportunities to provide technical support with refining the existing financial models to measure ALM risks and capital requirements.

Hello Future Insurance Balance Sheet Management Analyst,

Welcome to FNB, the home of the #changeables. We design for the shapeshifters and deliver products and services that make us incredibly proud of people that make it happen.

As part of our team in FNB Insure, you will be surrounded by unique talents, diverse minds, and an adaptable environment that lives up to the promise of staying curious. Now’s the time to imagine your potential in a team where experts come together and ignite effective change.

Are You Someone Who Can

• Perform scenario and sensitivity modelling across liabilities and backing assets; interpret impacts on solvency (regulatory and economic bases).
• Monitor and communicate capital position, liquidity buffers and key risk drivers; highlight emerging issues and propose actions to optimise capital usage.
• Assist with developing optimal solutions using insurance balance sheets.
• Streamline and strengthen ALM and BSM processes to enhance efficiency, accuracy, and auditability, supporting a robust and integrated BSM capability across the Group’s insurance businesses.
• Track regulatory regime changes affecting capital requirements and reflect these in planning and reporting.
• Support the formulation, execution and review of investment and hedging strategies aligned to BSM frameworks; ensure asset mixes and overlays are appropriate for liability profiles and policyholder interests.
• Assist in managing the BSM Portfolio risks and implementing appropriate hedging solutions.
• Provide technical support for refining existing financial models to measure ALM risks and capital requirements.
• Partner with Actuarial, Finance, Risk, Treasury/Investment and Product teams to understand liability dynamics, asset performance and profit drivers; communicate complex findings clearly to senior stakeholders.
• Ensure activities comply with Group frameworks, regulations and the BSM policies.
• Review daily ALM risk reports and ensure all exposures and limits are properly reported.
• Assist with all BSM reporting requirements.
• Engage internally and externally on accountable areas.
• Maintain comprehensive packs and dashboards for committee submissions and provide functional support during relevant committee meetings.
• Execute quantitative and qualitative deep-dives as requested.

You Will Be An Ideal Candidate If You Have

• Post‑graduate degree in Actuarial Science, Financial Mathematics, Mathematics or equivalent quantitative discipline.
• At least 5 years’ working experience in insurance ALM/BSM, bank treasury or investment risk analytics (banking ALM exposure advantageous).
• Strong knowledge of the latest developments in SAM, IFRS17 and other related regulations.
• A strong attention to detail and superior math/analytical skills are essential in this role.
• Advanced quantitative modelling skills, proficiency in Excel and the ability to learn new software quickly are essential.
• Ability to translate technical analyses into crisp, decision‑ready insights for executives/committees; strong written and verbal communication.

You Will Have Access To

• Opportunities to network and collaborate
• A challenging working environment
• Opportunities to innovate

We Can Be a Match If You Are

• Adaptable and curious
• Self‑motivated with the ability to prioritise and execute tasks
• Thrive in a collaborative environment

Apply now if you are interested in taking the next step. We look forward to engaging with you!

All appointments will be made in line with FirstRand Group’s Employment Equity plan. The bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.

Job Details

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.

24/01/26