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Insurance Regulatory Authority Jobs in Kenya

The Insurance Regulatory Authority is a state Corporation set up to regulate, supervise and develop the insurance sector in Kenya. The Authority is now seeking applications for the following vacant positions:

Senior Inspection Officer
Ref SIO/01

Reporting to the Assistant Manager Surveillance the position holder will be responsible for implementing and evaluating programmes aimed at securing compliance of insurance industry players through surveillance, inspection and supervision.

Core duties and responsibilities
  • Planning, carrying out the inspection, reporting on the findings and working with management to see that identified problems are corrected;

  • Provide team leadership in the design, implementation and evaluation of effective programmes aimed at securing compliance in accordance with the requirements of the Insurance Act;
  • Coordinate and supervise the implementation of the inspection policies, procedures, practices, systems and processes;
  • Enforce policy guidelines and best practices including a risk-based model for routine supervision of insurance firms;
  • Prepare reports on insurance companies’ performance indicating compliance levels and adherence to prudential and market conduct benchmarks;
  • Review incidents of non-compliance, fraudulent inclinations and failures to meet regulatory obligations and recommend appropriate administrative and legal sanctions.
Minimum Qualifications
  • Bachelor’s degree in Commerce, Insurance, Business Administration, Accounting, Actuarial Science, Economics, Finance, or a related field. Masters degree in any of the above fields would be an added advantage;
  • Have attained CPA, CFA, ACII, or other equivalent qualifications;
  • A minimum of eight (8) years experience gained in relevant financial organizations with a strong focus on compliance, risk profiling and market regulation;
  • Excellent interpersonal and communication skills;
  • Expertise in forensic accounting techniques;
  • High level proficiency in the use of MS office suite.
Senior Compliance Officer 
2 Positions
Ref SCO/01

Overall Purpose

Responsible to the Assistant Manager, Compliance for ensuring compliance by the
Industry players with the provisions of the Insurance Act Cap 487 and other regulatory requirements and procedures adopted by the Authority.

Core Duties and Responsibilities
  • Review applications for registration and renewals for insurance and reinsurance firms in line with prescribed requirements;
  • Review and evaluate re-insurance proposals and cover notes from re-insurers including, reinsurance premium levy returns for analysis and interpretation to ensure compliance with prescribed requirements;
  • Assess the professional competencies and qualifications of directors and management staff of insurance institutions to ensure prudent management of these institutions;
  • Conduct on-site inspection and supervision alongside the Surveillance section;
  • Provide advisory services to stakeholders and the general public on matters pertaining to insurance, re-insurance and intermediaries’ regulations;
  • Analyse and approve premium rates and investments by insurance and re-insurance companies;
  • Develop and strengthen collaborative partnerships and networks with relevant key stakeholders, Government agencies and the general public in order to ensure continuing support to IRA’s mission and strategic objectives.
Minimum Qualifications
  • Bachelor’s degree in Commerce (insurance option), Actuarial Science, Economics, finance or a related field;
  • Minimum of 6 years experience in Insurance business or with an insurance supervisor;
  • Professional qualifications such as ACII, CFA, CPA, or equivalent would be an added advantage;
  • Excellent interpersonal and communication skills;
  • High level proficiency in the use of MS office suite.
Corporate Communications Officer
Ref CCO/01

Overall Purpose

Responsible to the Head, Corporate Communication in the discharge of communication strategies aimed at promoting and enhancing IRA’s image.

The holder of the position will assist the Head of Corporate Communications in coordinating media events, conferences and exhibitions.

Core Duties and Responsibilities
  • Assist in the planning and implementation of the IRA communications policy;
  • Assist in the Planning and implementation all of the organization’s internal and external communications and promotional activities;
  • Maintain the IRA website and ensure that it is updated and remains relevant for purposes of information dissemination;
  • Assist in organizing and managing press conferences, media coverage and respond to incoming media calls;
  • Draft speeches, news releases and any other presentations as required;
  • Assist in directing IRA’s publicity programmes to the various publics;
  • Assist in Gathering information, write articles and edit newsletters, reports, journals and other publicity materials;
  • Assist in the development, production and delivery of promotional campaigns and special publications, including season brochures, flyers, posters, electronic promotions, calendars, and other publicity support materials.
Minimum Qualification/Experience
  • The ideal candidates should posses a Bachelors’ degree in Communications, Public Relations or Social Sciences and Post graduate qualification in Public Relation, Communication or Journalism;
  • A minimum of five (5) years progressive experience in Corporate Communications, with at least two (2) years in a reputable media house;
  • Excellent Script and Speech Writing Skills.
Financial Analysts 
2 Positions
Ref FA/01

Overall Purpose

Responsible to the Senior Financial Analyst, for the capture and analysis of data and information submitted by the players in the insurance industry.

Key responsibilities of the selected candidate will include:

Core duties and responsibilities
  • Capture data and information pertaining to the insurance industry;
  • Analyze financial statements and returns received from the insurance industry;
  • Prepare reports about the performance of selected insurance companies and insurance intermediaries;
  • Monitor global trends in the insurance industry.
Minimum Qualifications
  • Upper Second Class degree in Finance, Accounting Option, Actuarial science or Insurance;
  • Hold CFA, CSIA or CPA ( K ) qualification or equivalent;
  • Have recently graduated from a reputable university;
  • Proficiency in the use of Ms Office suite particularly Ms Excel.
Terms of Offer

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

If you believe you are the right candidate for any of the above positions and can clearly demonstrate your ability to meet the qualification given, please submit your application indicating the position and reference number you are applying for with a detailed CV, stating your position, remuneration, qualifications, experience, names and addresses of three referees, email and telephone contacts together with copies of your certificates and testimonials by 29th October, 2010 to:

The Chief Executive Officer
Insurance Regulatory Authority
Zep -Re Place
P.O Box 43505-00100

Note only shortlisted candidates will be contacted and canvassing will result in
automatic disqualification.

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