Summary
Date Posted: Wednesday, June 08, 2022 , Base Salary: Not Disclosed

JOB DETAILS:
Supervision Officer (2 Positions)
REF: SO/01

Job purpose
The position is responsible for carrying out prudential supervision, licensing and enforcement to ensure financial soundness and proper governance of regulated entities.

Job Specifications
The duties and responsibilities will entail:
• Carry out risk profiling of regulated entities in line with the risk-based supervision framework for proper assignment of risks and management of resources.
• Continuously monitor, evaluate and report on the risk status of each of the assigned entities to allow for early intervention in the case of highrisk companies.
• Carry out offsite and on-site surveillance of regulated entities to ensure an up-to-date risk profile.
• Enforce penalties, restrictions, directives, inspection/investigation recommendations, offsite surveillance and market conduct recommendations and any other requirement of the Insurance Act,
• regulations, guidelines and rules.
• Prepare reports on compliance with set minimum requirements in relation to capital, governance and risk management to ensure safety and stability in the insurance industry.
• Prepare reports on compliance with set out practices and steps to be followed to ensure fair market practices in the industry.
• Analyse any requests for approval under the Insurance Act.
• Analyse and recommend for approval of reinsurance programmes as provided under the Insurance Act.
• Process lien applications as provided under the Insurance Act.
• Conduct preliminary analysis of applications for licensing for regulated entities to ensure completeness and accuracy of information.
• Assess non-compliance with laws and regulations by regulated entities and submit reports for necessary actions.
• Prepare a variety of reports, memos and correspondences related to licensing and enforcement activities.
• Participate in the formulation and development of policies and procedures for the development of the insurance industry.
• Participate in training of members of the industry.
• Participate in supervisory colleges.
• Participate in the development of departmental work plan, budget and procurement plan

Persons Specifications
• Bachelor’s degree in Business Administration, Statistics, Insurance, Finance, Economics, Law, or its approved equivalent.
• Certificate in Computer Proficiency.
• Meets provision of chapter six of the Constitution Meets the provision of chapter six of the Constitution

Competency and Skills
• Strong communication and presentation skills
• Good analytical skills
• Problem solving
• Professionalism

Job Experience: No Requirements

Work Hours: 8

Job application procedure
• Suitably qualified and experienced individuals should submit applications enclosing a detailed curriculum vitae (CV), copies of relevant academic and professional certificates/testimonials and a copy of National Identity Card.
• The CV must at the minimum provide details of the applicant’s email address, day-time mobile telephone numbers, details of current employer, current remuneration and names and contacts of three (3) referees familiar with the applicant’s professional background and experience.
• Applications, addressed to the undersigned, may be delivered at the Insurance Regulatory Authority (Registry Section) at Zep-Re Place, 2nd Floor, Longonot Road, Upper Hill. Please note that these should be sealed, marked “Confidential” and indicate the job reference (e.g “REF:SO/01” for Supervision Officer). Alternatively, they may be sent by post or email to:
Commissioner of Insurance & Chief Executive Officer
Insurance Regulatory Authority
Zep-Re Place
P.O Box 43505-00100
Nairobi
EMAIL : careers@ira.go.ke 
Applications must be received by close of business on 21st June 2022.
Compliance Requirement:
In accordance with The Employment (Amendment) Act, 2022, the Authority will require candidates it wishes to enter into a written contract of service with to comply with Chapter Six of the Constitution by submitting mandatory compliance and clearance certificates from the relevant entities

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