Supervision Officer III at Insurance Regulatory Authority (IRA)

Job Summary

Carrying out on site and off site supervision of regulated entities

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelor’s degree in insurance/ actuarial/ economics/ finance or business-related course
• Part qualifications in ACII /AIIK/CPA(K)/ACCA/ CFA/ CSIA/Actuarial qualifications and
• Proficiency in ICT

Experience

• At least one (1) years of relevant experience
• Experience in preparation of analytical and numerical reports; and
• Experience analyzing financial and statistical reports.

Skills

• Good communication and reporting skills;
• Good supervision skills;
• Strong organization and interpersonal skills; and
• Good analytical, investigative, auditing and inspection skills

Competences

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

Responsibilities

Industry Supervision

• Carry out risk profiling of insurance companies
• Continuously monitor, evaluate and report on the risk status of each of the assigned companies
• Carry out offsite and on-site surveillance of the assigned companies
• Analyze any requests for approval under the Insurance Act.
• Analyze and recommend for approval reinsurance programme

Industry Analysis

• Analyze applications and recommend for registration and licensing of insurance companies in accordance with the requirements of the Insurance Act.
• Analyse applications for registration and renewals for intermediaries and other service providers in line with prescribed requirements.
• Recommend requests for approval of the appointment of principal officer for brokers and MIP’s.
• Analysis of annual accounts for brokers and MIP’s.
• Process lien applications as provided under the Insurance
• Policy development and

Implementation

• Participate in the formulation and development of policies and procedures
• Participate in the coordination of training for members of the industry.
• Coordinate development and growth of insurance agency force at the counties
• Assist in the preparation of policy papers, briefs, and board papers.
• Monitor the implementation of performance contract issues and the strategic plan in the Technical Department.