Assistant Director, Conduct Supervision - 2 Posts at Insurance Regulatory Authority (IRA)

Job Specifications

Duties and responsibilities will entail:

• Overseeing analysis of market conduct data from the regulated entities.
• Reviewing policy wordings of insurance products.
• Undertaking offsite risk assessment and onsite inspections on market conduct.
• Monitoring implementation of TCF framework;
• Reviewing complaints data to identify gaps and recommend corrective actions;
• Implementing strategies for undertaking comprehensive, targeted and risk focused market conduct examinations of regulated entities.
• Developing and implementing strategies for effective risk assessment and ongoing supervision of regulated entities with respect to market conduct;
• Analysing the impact of new, or revised laws, regulations, policies, and procedures on market conduct.
• Conducting regulatory impact and gap analysis with respect to market conduct;
• Implementing consumer complaints handling mechanisms;
• Undertaking capacity building of the regulated entities;
• Identifying and recommending legislative changes aimed at protecting the consumers;
• Undertaking research on market conduct.
• Overseeing formulation of effective strategies, policies and programmes for consumer education;
• Reviewing reports on insurance awareness and literacy programmes.
• Overseeing development and delivery of consumer education and outreach programmes;
• Conducting insurance awareness needs assessment.
• Developing consumer education strategy;
• Formulating and implementing consumer education programmes.
• Overseeing development of Information, Education & Communication (IEC) materials.
• Monitoring and evaluating outreach activities.

Person Specifications

• Nine (9) years’ cumulative experience, three (3) of which should have been at the level of Principal Conduct Supervision Officer or in comparable and relevant position.
• Bachelor’s degree in any of the following fields: Insurance, Law, Risk Management or equivalent from a recognized institution.
• Master’s degree in any of the following fields: Business Administration, Insurance, Law, Risk Management from a recognized institution.
• Professional qualification in any of the following: ACII, AIIK, LOMA or equivalent from a recognized institution.
• Membership to a relevant professional body and in good standing where applicable.
• Certificate course in leadership lasting not less than four (4) weeks from a recognized institution.
• Proficiency in computer applications.

Competencies and skills

• Communication skills
• Interpersonal skills
• Analytical skills
• Report writing skills
• Presentation skills
• Mentoring, coaching and leadership skills.
• Conflict management