Head, Supervision At Insurance Regulatory Authority (Ira)

Head, Supervision At Insurance Regulatory Authority (Ira)

Ory Authority (Ira)

Head, Supervision At Insurance Regulatory Authority (Ira)

Details of the offer

Job Summary
Responsible for effective supervision (off-site and on-site), regulation and development of insurers, intermediaries and service providers
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

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

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

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

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
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

Source: Myjobmag_Co


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