The Export Credit Insurance Corporation seeks proposals for an independent review of its Own Risk and Solvency Assessment (ORSA) process over three years. Service providers must demonstrate expertise in risk management and compliance with regulatory standards.
The Export Credit Insurance Corporation of South Africa is inviting proposals for an independent review of its Own Risk and Solvency Assessment (ORSA) process for a duration of three years. This review aims to evaluate the maturity and effectiveness of the ORSA components, ensuring compliance with the Prudential Authority's Governance and Operational Standards for Insurers. Bidders must assess key areas including the ORSA policy, governance structures, risk management processes, and capital management activities, providing a comprehensive assurance report with findings and recommendations.
The appointed service provider will be required to present their findings to both management and the Risk Committee of the Board of Directors annually. This tender is an excellent opportunity for firms with a strong background in actuarial science, risk management, and regulatory compliance within the insurance sector. By participating, businesses can contribute to enhancing the risk governance framework of a key state-owned entity, thereby supporting the broader objectives of financial stability and compliance in South Africa.
This tender is suitable for consulting firms, actuarial service providers, and risk management specialists with experience in insurance regulations and ORSA processes. Businesses with a proven track record in conducting independent reviews and assessments in the financial sector are encouraged to apply.