Insurance Regulatory Authority Assistant Manager Supervision Jobs in Kenya
Job purpose
To ensure efficient registration and exit from the market of insurers and
ensure that the provisions of the Insurance Act, rules, regulations, guidelines,
circulars and other directives from the Authority are enforced to ensure that
the interests of policyholders and insurance beneficiaries are sufficiently
safeguarded.
Job specifications
Duties and responsibilities will entail:
Managerial/Supervisory responsibilities
Recommend licensing and approvals of regulated entities as provided for
in the Insurance Act to ensure protection of insurance policyholders and
beneficiaries;
Monitor and implement set out practices and steps to be followed by
regulated entities to ensure fair market practices in the insurance
industry.
Monitor and Implement policy guidelines, regulations and amendments in
the Insurance Act with regards to licensing;
Monitor and 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;
Provide leadership and strategic direction to staff in the section.
Provide leadership and strategic direction to staff in the section.
Review reports on remittance of premium levy.
Review enforcement reports.
Operational Responsibilities / Tasks
Prepare proposals for registration and licensing;
Review analysis on acquisitions, transfers and mergers within the
insurance industry to ensure policy holders are protected
Review analysis on process applications for registration, approval and
authorization of insurance and reinsurance companies under the Insurance Act;
Review analysis on reinsurance proposals and arrangements;
Review analysis on requests from regulated entities for corporate changes
including new branches, shareholding structure, mergers and acquisitions;
Review analysis on Approval of directors, principal officer, senior manager
and key officers as well as recruitment of expatriates and approvals for work permits;
Review analysis on applications for overseas placement of insurance
business;
Ensure compliance with the section’s standard operating procedures by
staff.
Review reports on remittance of premium levy.
Review enforcement reports
Review analysis on acquisitions, transfers and mergers within the
insurance industry to ensure policy holders are protected
Maintain accurate information on all investigations, inspections and
enforcement actions;
(xiii)Develop systems and procedures to monitor insurers’ compliance with
the requirements of the Insurance Act and other directives issued by the
Authority and take appropriate measures as provided for in the Insurance
Act;
Intervene in the event of non-compliance with regulatory and supervisory
requirements;
Person specification
Master’s degree in Statistics, Insurance, Finance, Risk Management,
Economics, Law, Business Administration, Commerce or its equivalent;
Bachelor’s degree in Commerce, Business Administration, Statistics,
Insurance, Finance, Economics or Law;
Six (6) years relevant experience;
Management Course lasting not less four (4) weeks;
Professional qualifications in Insurance or Accounting (ACII/AIIK/FLMI/CPA);
Member of a relevant professional body;
Meets provision of chapter six of the Constitution.
Competencies and skills
Strong negotiation skills
Strong communication and presentation skills
Good mentorship and coaching skills
Leadership and supervision skills
How to Apply
For more information and job application details, see; Insurance Regulatory Authority Manager Human Resource Management Jobs in Kenya
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