Insurance Regulatory Authority Head, Supervision Jobs in Kenya

Insurance Regulatory Authority Head, Supervision Jobs in Kenya


Job Summary

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

    Principle Responsibilities

    Key Responsibilities Main 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 co-ordination 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 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

    Key Responsibilities Main task

  • 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 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

    Any other tasks

  • Participate in various committees and taskforces within and outside IRA

    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;

  • Proficiency in ICT

    Experience

  • Eight (8) years’ experience gained in similar field, 2 of which should have been at a
    supervisory level;

  • Experience in preparation of analytical and numerical reports;

  • Experience analysing financial and insurance reports;

    Skills

  • Strong communication, reporting and speech writing skills;

  • Good mentorship and coaching skills;

  • Strong organization and inter personal skills;

  • 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

    How to Apply

    For more information and job application details, see; Insurance Regulatory Authority Head, Supervision Jobs in Kenya


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