Job Purpose
The position is responsible for assessing and monitoring the financial
soundness of the industry, conducting macro-prudential surveillance, data
analytics, reporting, and publication with the aim of protecting policyholders
and insurance beneficiaries.
Job Specifications
Duties and responsibilities will entail:
Compile statistics of insurers and check for
completeness including annual insurance statistics, quarterly insurance
statistics, quarterly insurance industry claims statistics, Monetary Financial
Statistics (MFS), and Kenya National Bureau of Statistics.
Prepare periodic reports on performance, trends
analysis, and projections for the insurance industry, including monthly gross
direct premium reports, monthly summary of claims reports, quarterly insurance
industry reports, and annual insurance industry reports.
Conduct data validation of quarterly and annual
insurance statistics to check for completeness and consistency of insurance
data.
Update various performance indicators, ratios, and industry benchmarks and averages.
Analyze, evaluate, and interpret insurers’ financial
statements and returns to ensure disclosures regarding various insurance
parameters such as insurance premiums, income, expenditure, assets, and
liabilities.
Create monthly, quarterly, and annual returns and
recommend continuous updates to ensure the returns meet acceptable standards
and that all the necessary disclosures are made.
Conduct analyses on financial stability and
macroprudential policy.
Carry out regular macro stress tests and prepare
documents for public communication of those tests.
Participate in preparations for conducting research
work in the field of financial stability, including collaboration with other
institutions and professionals such as participating in the FinAccess survey.
Continuously evaluate financial returns to ensure
they meet acceptable standards and that all the necessary disclosures are made.
Person Specifications
Bachelor’s degree in Actuarial Science, Statistics,
Commerce, Business Administration, or Finance from a recognized institution.
Meets the provisions of Chapter Six of the
Constitution.
Competencies and Skills
Strong communication and presentation skills
Good analytical skills
Problem-solving
Professionalism
How To Apply
Terms of Offer:
The Authority offers an attractive remuneration
package commensurate with the duties and responsibilities of each position.
Successful candidates for positions in Job Grade IRA
4 to IRA 10 shall be appointed on Permanent and Pensionable terms of service.
Application:
Interested applicants MUST adhere to
the application instructions provided below:
The applicants MUST submit their
biodata online by filling in the form provided in the link below: https://forms.office.com/r/L8fWqDZ1r1
In addition, the applicants MUST send
their hard copy applications enclosing their Curriculum Vitae and copies of
relevant academic and professional certificates and copy of National
Identification Card. The applicant MUST also include telephone
number, e-mail address and names and addresses of three (3) referees familiar
with the applicant’s professional background and experience.
Hard Copy Applications addressed to the undersigned,
to be sent by post or delivered to the Insurance Regulatory Authority 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: MF/05”
for Manager Finance).
Commissioner of Insurance & Chief Executive
Officer
Insurance Regulatory Authority
Zep-Re Place
P.O Box 43505-00100
Nairobi
Applications must be received by close of business
at 5pm on Friday 28th June 2024.
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.
Important:
IRA is an Equal Opportunity Employer
Canvasing in any manner shall lead to automatic
disqualification.