Supervisior at Insurance Regulatory Authority (IRA)

Coordinate the supervision of regulated entities to ensure prudent regulation/supervision of all registered General insurance companies.

Responsibilities

• Ensure the risk profiling of all general insurance companies.
• Ensure that the risk profile for the general insurance companies is updated periodically.
• Ensure that the returns from the general insurance companies are received, analyzed and periodic reports made to the Manager Supervision
• Ensure that the risk status for all general insurance companies is up dated quarterly and reported to the head of market supervision
• Coordinate and ensure that all approvals are granted in accordance with the insurance Act.
• Ensure that unaudited and audited accounts and actuarial reports of all general insurance companies are received, analyzed deviations noted information used for decision making.
• Review applications for registration and licensing of all general insurance companies in accordance with the requirements of the Act.
• Supervise the on-site and off-site inspection of all general insurance companies.
• Ensure compliance of all general insurance companies with the provisions of the Insurance Act and other supervisory guidelines.
• Ensure the divisional SOPs and service charters are adhered to and implemented

Qualifications

• Bachelors’ degree in insurance / finance / accounting / actuarial:
• Professional insurance qualification e.g. ACII / AIIK/CPA(K)/ ACCA/ CFA/ CSIA
• Member of the ACII/ AIIK or similar bodies; and
• Proficiency in ICT
• A Masters’ degree in a relevant field will be an added advantage
• Eight (8) years’ experience gained in the insurance industry, two (2) of which should have been at a supervisory level;
• Experience in preparation of analytical and numerical reports;
• Experience analysing financial and insurance reports; and
• Strong communication, reporting and speech writing skills;
• Good mentorship and coaching skills;
• Strong organization and inter personal skills; and
• Good analytical, investigative, auditing and inspection skills
• Good team management and leadership skills

Competences

• Professionalism;
• Ethical and integrity;
• Strategic thinking and team player; and
• Ability to work under pressure, prioritize and multi task

Terms of Offer

An attractive remuneration package commensurate with the responsibilities of the position will be negotiated with the right candidate.