Supervision Officer III at Insurance Regulatory Authority (IRA)

DIVISION Technical
GRADE/LEVEL IRA 8
IMMEDIATE SUPERVISOR: Head, Supervision

PURPOSE OF THE JOB (JOB SUMMARY)

Carrying out on-site and off-site supervision of regulated entities

PRINCIPAL RESPONSIBILITIES

Key Responsibilities Main task

1. Industry Supervision Carry out risk profiling of insurance companies
2. Continuously monitor, evaluate and report on the risk status of each of the assignedcompanies
3. Carry out offsite and on site surveillance of the assigned companies
4. Analyze any requests for approval under the Insurance Act.
5. Analyze and recommend for approval reinsurance programme
6. Industry Analysis Analyze applications and recommend for registration and licensing of insurance companies in accordance with the requirements of the Insurance Act. 

Key Responsibilities Main task

1. Analyse applications for registration and renewals for intermediaries and other service providers in line with prescribed requirements.
2. Recommend requests for approval of the appointment of principal officer for brokers and MIP’s.
3. Analysis of annual accounts for brokers and MIP’s.
4. Process lien applications as provided under the Insurance Act.
5. Policy development and Implementation
6. Participate in the formulation and development of policies and procedures
7. Participate in the coordination of training for members of the industry.
8. Coordinate development and growth of insurance agency force at the counties
9. Assist in the preparation of policy papers, briefs and board papers.
10. Monitor the implementation of performance contract issues and the strategic plan in the
11. Technical Department.

REQUIRED QUALIFICATIONS

Education and knowledge

1. Bachelor’s degree in Business Administration, Insurance, Finance, Economics, or equivalent.
2. Proficiency in ICT

Experience

This is an entry level job with no experience required

Skills 

1. Good communication and reporting skills;
2. Good supervision skills;
3. Strong organization and inter personal skills; and
4. Good analytical, investigative, auditing and inspection skills

Competences

1. Professionalism;
2. Ethical and integrity;
3. Strategic thinking and team player; and
4. Ability to work under pressure, prioritize and multi task