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.