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    Supervision Officer

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    Insurance Regulatory Authority IRA

    The position is responsible for carrying out prudential supervision, licensing

    and enforcement to ensure financial soundness and proper governance of regulated entities.

    b) Job Specifications

    The duties and responsibilities will entail:

    (i)

    Carry out risk profiling of regulated entities in line with the risk-based

    supervision framework for proper assignment of risks and management

    of resources.

    (ii)

    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.

    (iii)

    Carry out offsite and on-site surveillance of regulated entities to ensure

    an up-to-date risk profile.

    (iv)

    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.

    (v)

    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.

    (vi)

    Prepare reports on compliance with set out practices and steps to be

    followed to ensure fair market practices in the industry.

    (vii) Analyse any requests for approval under the Insurance Act.

    (viii) Analyse and recommend for approval of reinsurance programmes as

    provided under the Insurance Act.

    (ix)

    Process lien applications as provided under the Insurance Act.

    (x)

    Conduct preliminary analysis of applications for licensing for regulated

    entities to ensure completeness and accuracy of information.

    (xi)

    Assess non-compliance with laws and regulations by regulated entities

    and submit reports for necessary actions.

    (xii) Prepare a variety of reports, memos and correspondences related to

    licensing and enforcement activities.

    (xiii) Participate in the formulation and development of policies and

    procedures for the development of the insurance industry.

    (xiv) Participate in training of members of the industry.

    (xv)

    Participate in supervisory colleges.

    (xvi) Participate in the development of departmental work plan, budget and

    procurement plan

    c) Persons Specifications

    (i)

    Bachelor’s degree in Business Administration, Statistics, Insurance,

    Finance, Economics, Law, or its approved equivalent.

    (ii)

    Certificate in Computer Proficiency.

    (iii)

    Meets provision of chapter six of the Constitution Meets the provision

    of chapter six of the Constitution

    d) Competency and Skills

    (i)

    Strong communication and presentation skills

    (ii)

    Good analytical skills

    (iii)

    Problem solving

    (iv)

    ProfessionalismTerms of Offer:

    An attractive remuneration package commensurate with the responsibilities of the position will be negotiated with the successful candidate.

    Application:

    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.

    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

    To apply for this job email your details to careers@ira.go.ke.