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Vision:
To be the leading insurance industry regulator.
Mission:
To effectively regulate, supervise, develop the insurance industry and protect insurance beneficiaries.
Core Values:
(i)Accountability: -We exercise prudence in use of public resources entrusted to IRA.
(ii)Team Spirit: -We work effectively with others across functional lines to a...
Job Summary
Responsible for effective supervision (off-site and on-site), regulation and development of insurers, intermediaries and service providers
REQUIRED QUALIFICATIONS
Education and knowledge
- Bachelors degree in insurance / finance / accounting / actuarial:
- Professional qualification e.g. ACII / AIIK/CPA(K)/ ACCA/ CFA/ CSIA
- Member of the ACII/ AIIK or similar bodies; and
- Proficiency in ICT
Experience
- Eight (8) years’ experience gained in a similar field, 2 of which should have been at a supervisory level;
- Experience in preparation of analytical and numerical reports;
- Experience analyzing financial and insurance reports; and
Skills
- Strong communication, reporting and speech writing skills;
- Good mentorship and coaching skills;
- Strong organization and interpersonal 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
Responsibilities
Policy development
- Participate in the development, evaluation and implementation of policy guidelines for routine supervision of licensees under the Insurance Act and recommend adoption of best practices.
- Ensure coordination of the activities of the section relating to the Risk profiling of insurance industry members, follow-up of the supervisory response to the profiles and support for the companies in undertaking corrective action
- Provide input for Gazettement and Degazettement of intermediaries and service providers
- Coordinate and facilitate the training of insurers, intermediaries and service providers.
- Participate in drafting budget memorandum.
- Drafting various circulars and guidelines
- Coordinate and supervise performance of the various tasks for supervision purposes
Industry Analysis and
Supervision
- Coordinate the on-site and off-site inspection process
- Coordinate the preparation of periodic reports to management on the risk status and supervisory plan for each insurer and intermediary
- Co-ordinate and supervise the implementation, monitoring and evaluation of supervision policies & procedures
- Participate in the formulation of cross border, regional and international insurance initiatives
- Ensure that all licensees submit returns in time and that they are analyzed as required.
- Ensure approval of various requests under the Insurance Act from the regulated entities
- Coordinate the review of applications for registration and licensing of all insurers, intermediaries and service providers
- Review incidents of non-compliance by regulated entities and recommend administrative and legal sanctions
- Provide advisory services to stakeholders and the general public on matters pertaining to all insurers, intermediaries and service providers.
Staff supervision and administration
- Coordinate and supervise the performance of the tasks carried out by supervision officers in the Section
- Participate in preparation, implementation and control the departmental budget and work plans
- Ensure department Standard Operating Procedures and Service Charter are adhered to and implemented
- Liaise with IRA departments and external stakeholders so as to ensure a coordinated approach to discharging the mandate of the Authority
- Supervise and develop section staff
If you believe you are the right candidate for the above position and can clearly demonstrate your ability to meet the job requirements given, please submit your application (clearly indicating on the envelope the reference number and position you are applying for) with a detailed CV, stating your position, current remuneration, qualifications, experience, names and addresses of three referees, email and telephone contacts together with copies of your certificates and national identification card by close of business on 28th February 2020 to:
Commissioner of Insurance & Chief Executive Officer
Insurance Regulatory Authority
Zep-Re Place
P.O Box 43505-00100,
Email: careers@ira.go.ke,
Nairobi
IRA is an Equal Opportunity Employer and Persons With Disabilities are encouraged to apply.
Note: only shortlisted candidates will be contacted and canvassing will result in automatic disqualification.
Terms of Offer:
An attractive remuneration package commensurate with the responsibilities of the position will be negotiated with the right candidate.
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