Deputy Director, Supervision (Prudential) at Insurance Regulatory Authority (IRA)

Vision: To be the leading insurance industry regulator. Mission: To effectively regulate, supervise, develop the insurance industry and protect insurance beneficiaries. Core Values: (i)Accountability: -We exercise prudence in use of public resources entrusted to IRA. (ii)Team Spirit: -We work effectively with others across functional lines to a...

 

Deputy Director, Supervision (Prudential)

  • Job TypeFull Time
  • QualificationBA/BSc/HND , MBA/MSc/MA
  • Experience12 years
  • LocationNairobi
  • Job FieldLaw / Legal 

Job Specifications

The duties and responsibilities will entail:

  • Managing the process of formulation and ensuring implementation of minimum requirements in relation to capital, governance and risk management.
  • Managing the development, continuous update and implementation of risk profiling framework for proactive intervention on insurers.
  • Overseeing the identification, development and implementation of regulatory reforms in areas of amendments or changes in the Insurance Act, regulations and guidelines.
  • Overseeing risk assessment and development of insurers’ and insurance groups’ risk profile.
  • Recommending intervention measures as provided for in the Insurance Act.
  • Overseeing offsite and onsite supervision of insurers.
  • Ensuring collection and analysis of data on onsite inspections, risk assessments, and trends to inform supervisory strategies.
  • Managing potential impacts of developments and trends arising out of regional and international supervision practices.
  • Overseeing development and implementation of a framework for identifying insurance groups.
  • Coordinating group-wide and cross-border supervision with both regional and international insurance supervisors.
  • Leading supervisory colleges with other supervisory authorities that have regulatory oversight of entities within a group.
  • Managing stakeholder engagements for capacity building and articulation of emerging issues in supervision.
  • Undertaking performance management, training and development, coaching and mentoring and welfare for staff of the Department.
  • Undertaking relevant research.
  • Overseeing conduct of gap analysis with respect to the law and regulatory impact analysis (RIA) and facilitating development of legislative and regulatory proposals.
  • Providing leadership and strategic direction to staff in the department.

Person Specifications

  • Twelve (12) years’ cumulative experience, three (3) of which should have been at the level of Assistant Director Supervision or in comparable and relevant position.
  • Bachelor’s degree in any of the following fields: Insurance, Finance, Accounting, Risk Management, Law, Economics, Information Technology, or equivalent from a recognized institution.
  • Master’s degree in any of the following: Business Administration, Insurance, Finance, Accounting, Risk Management, Law, Economics, Information Technology, or equivalent from a recognized institution.
  • Professional qualification in any of the following: ACII, AIIK, LOMA, CPA, CIFA, CFA, or equivalent from a recognized institution.
  • Membership to a relevant professional body and in good standing where applicable.
  • Certificate in leadership course lasting not less than four (4) weeks from a recognized institution.
  • Proficiency in computer applications.

Competency and Skills

  • Communication skills
  • Interpersonal skills
  • Analytical skills
  • Report writing skills
  • Presentation skills
  • Mentoring, coaching and leadership skills.
  • Conflict management.

Check how your CV aligns with this job

Method of Application

Interested and qualified? Go to Insurance Regulatory Authority (IRA) on www.ira.go.ke to apply

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