Jobs at Insurance Regulatory Authority (IRA)
Jobs at Insurance Regulatory Authority (IRA). The Insurance Regulatory Authority (IRA) is a State Corporation established under the Insurance Act, Cap 487 of the Laws of Kenya with the mandate to regulate, supervise and promote development of the insurance industry in Kenya. The Authority is seeking applications for the following vacant positions:
Jobs at Insurance Regulatory Authority (IRA)
- Senior Manager Supervision (Licensing & Enforcement)
- Senior Manager Corporate Communication
- Manager Actuarial Services
- Manager Supervision (Intermediaries)
- Manager Finance
- Manager Human Resource Management
- Assistant Manager Supervision
- Assistant Manager Supply Chain Management
- Assistant Manager Administration
- Assistant Manager Records
- Actuarial Officer
- Financial Analyst
- Office Administrator – 2 Posts
- Research & Innovation Assistant
- Security Assistant
Senior Manager Supervision (Licensing & Enforcement)
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
The position is responsible for ensuring 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 / Key responsibilities
The duties and responsibilities will entail:
Managerial / Supervisory Responsibilities
- Oversee registration of insurers as provided for in the Insurance Act to ensure protection of policyholders and insurance beneficiaries.
- Co-ordinate the various regulatory approvals as required under the Insurance Act to ensure proper operations of the insurers.
- Oversee enforcement of penalties, restrictions, directives, inspection/investigation recommendations, offsite surveillance and market conduct recommendations and any other requirement of the Insurance Act on insurers;
- Maintain awareness of new trends and developments in the field of enforcement and incorporate new developments as appropriate into department’s programs;
- Oversee development and implementation of strategies for effective supervision of insurers under statutory management to ensure recovery or smooth exit from the market.
- Oversee the identification, development and implementation of regulatory reforms in areas of amendments or changes in the
- Insurance Act, regulations and guidelines with regards to licensing and enforcement;
- Coordinate and supervise the implementation of the supervisory policies and procedures to achieve the Authority’s goals and objectives;
- Provide leadership and strategic direction to staff in the department in achieving the goals of the Department;
- Ensure compliance with the department’s standard operating procedures by staff.
Operational Responsibilities / Tasks
- Oversee development of recovery and resolution plans for insurers;
- Monitor and report on the performance of statutory managers;
- Review reports on performance of approved insurance products and intervene as provided for in the Insurance Act.
- Coordinate and oversee development of legislative and regulatory proposals;
- Develop capacity building initiatives for insurers on emerging issues;
- Ensure maintenance of a register and database of registered Insurers as required under the Insurance Act;
- Prepare Board and management reports in matters relating to Licensing of insurers and Enforcement of the requirements of the Act;
- Oversee development, execution and control of the department’s work plan, budget and procurement plan;
- Oversee development, implementation, monitoring and evaluation of the risk assessment framework for the department; and
- Undertake performance management, training and development, coaching and mentoring and welfare for staff of the Department;
Persons Specifications
- Master’s degree in Statistics, Insurance, Commerce, Finance, Risk Management, Economics, Business Administration or its equivalent;
- Bachelor’s degree in Statistics, Insurance, Commerce, Finance, Risk Management, Economics, Business Administration
- Minimum KCSE B or its equivalent;
- Twelve (12) years relevant experience, eight (8) of which served at a senior management level;
- Leadership course lasting not less than four (4) weeks;
OR
- Management Course lasting not less four (4) weeks;
- Professional qualifications in Insurance or Accounting (ACII/ AIIK/FLMI/CPA);
- Be a registered member of a professional institution recognized in Kenya;
- Meets provisions of chapter six of the Constitution.
Competency and Skills
- Strong communication and reporting skills;
- Strong analytical and numerical skills;
- Strong organization and interpersonal skill;
- Mentoring, coaching and leadership skills;
- Conflict management; and
- Ability to work under pressure, prioritize and multi-task.
Senior Manager Corporate Communication
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
This position is responsible for establishing and maintaining IRA’s positive reputation and brand image through effective corporate communication strategies and practices, media management, stakeholder engagement, corporate social responsibility, creating brand personality and events management. The position is also responsible for developing and implementing strategies aimed at enhancing and maintaining service delivery and good customer experience
Job Specifications
Duties and responsibilities will entail:
Managerial / Supervisory Responsibilities
- Provide strategic leadership, advice and direction in the implementation and realization of the Authority’s corporate communication and customer service needs;
- Lead in the design, development and management of the Authority’s Corporate Communications, Service delivery and experience agenda to ensure objectives are aligned with the Authority’s strategic agenda;
- Provide innovative and creative leadership in the areas of Corporate Communication, Media Relations and Management, Crisis Communication, Customer Service and Experience and Service delivery among others;
- Promote and facilitate research in corporate communication and innovative customer service Corporate Communication initiatives to keep abreast with emerging customer needs and expectations;
- Develop and execute Communication Strategies and programs to support business decisions and overall implementation of the Strategic
- Plan to enable the Authority respond and address its internal and external stakeholders’ needs and expectations;
- Formulate, implement and manage the Authority’s Media Relations Plans and lead in message development to “tell the Authority’s story” in alignment with its mandate and strategic objectives while also constantly monitoring the media;
- Develop and foster the implementation of Customer Relations Strategies for enhanced customer experience, value addition, and customer satisfaction;
- Coordinate the development, implementation and review of the
- Authority’s service charter to ensure delivery of quality service and enhanced customer experience;
- Develop and execute the Authority’s corporate image and brand strategy in alignment with corporate objectives;
- Oversee content development, management, and dissemination for traditional and digital media channels for increased and sustained brand positioning, publicity, and robust stakeholder engagement;
- Coordinate the development and execution of Crisis Communication Processes and Plans to maintain a positive reputation and brand value/image;
- Design, develop and manage the Authority’s media and publicity campaigns across various platforms and media for enhanced brand value, reputation, visibility, and sustained stakeholder engagement;
- Oversee the development and implementation of the Corporate Social
- Responsibility Policy and Plans to address the emerging and long-term needs of the citizens within the Authority’s business environment;
- Oversee the implementation of the Stakeholder Engagement strategy to effectively engage in lobbying and advocacy programs, establish and maintain strategic corporate partnerships and alliances for the realization of the Authority’s mandate;
- Oversee design, development, production and dissemination of Information Education and Communication (IEC) materials, various publications, visibility products, reports, briefs for various audiences across assorted platforms, including for persons living with disabilities for enhanced understanding and inclusion;
- Coordinate regular research and surveys in brand communication, service delivery and proactively obtain market trends and insights on brand value and customer satisfaction levels;
- Conceptualize, design and oversee the execution and management of all corporate events in support of achieving organizational mandate and corporate visibility;
- Oversee development, implementation and review of the Directorate’s annual budgets, annual work plans, procurement and disposal plan in compliance with the applicable laws and regulations;
- Ensure compliance and direct the implementation of the Risk Management Policy Framework; and support the CEO in ensuring that the framework is integrated in the day-to-day activities of the Authority;
- Undertake performance management, training and development, coaching and mentoring for all staff within the department.
Operational Responsibilities / Tasks
- Implement, and track the impact of the Authority’s communication plans and programmes to ensure effectiveness and improvement.
- Establish a media database and initiate partnerships with media organizations and journalists; interact and pitch stories/op-eds of interest; organize media field visits and sensitization of reporters and editors.
- Lead in the identification and mitigation of IRA communications challenges and risks
- Oversee the implementation of management of departmental day to day activities
- Oversee development of the Corporate Communication Department Performance Contract (PC)
- Oversee the maintenance and well representation of IRA’s brand manual and corporate image
- Lead in the performance appraisal and identification of skill gaps and training needs of the staff in the Department
- Appraise the Corporate Communication Department staff
- Coordinate preparation of quarterly and annual departmental performance reports on implementation of the strategic plan, performance contract and operational/annual work plans
- Ensure compliance with the department’s standard operating procedures
- Plan, prepare and execute stakeholder and publicity activities in furtherance of the Authority’s mandate.
- Provide backstopping and share information on all corporate communication, customer service and service delivery activities.
- Participate in joint financial sector regulator forums
- Initiate training, nurturing and mentoring of all departmental officers
Persons Specifications
- Master’s degree in communication, Public Relations or any other approved equivalent;
- Bachelor’s degree in communication, Public Relations or any other approved equivalent qualifications from a recognized University/Institution;
- Minimum KCSE B or its equivalent;
- Twelve (12) years relevant experience, eight (8) of which served at a senior management level;
- Leadership Course lasting not less than four (4) weeks;
OR
- Management Course lasting not less four (4) weeks;
- Member of a relevant professional body recognized in Kenya
- Meet the provision of Chapter Six of the Constitution of Kenya.
Competencies and skills
- Excellent oral and written communication skills;
- Strong negotiation skills;
- Strong communication and reporting skills;
- Strong analytical and numerical skills;
- Strong organization and interpersonal skill;
- Mentoring, coaching and leadership skills;
- Conflict management; and
- Ability to work under pressure, prioritize and multi-task.
Manager Actuarial Services
Jobs at Insurance Regulatory Authority (IRA)
Job purpose
The position is responsible for ensuring that all the actuarial work is done in accordance with the requirements of the Insurance Act, including providing up-to-date reports upon analysis of industry data and returns in order to support other departments in the directorate in making informed decisions in supervising the insurance industry.
Job Specifications
The duties and responsibilities entail:
Managerial / Supervisory Responsibilities
- Formulate minimum requirements in relation to capital, governance and risk management to ensure safety and stability in the insurance industry.
- Formulate practices and steps to be followed for compliance to ensure fair market practices in the industry.
- Development, policy guidelines, regulations and amendments in the Insurance Act for supervision of the insurance industry;
- Monitor and implement set out practices and steps to be followed for compliance to ensure fair market practices in the industry.
- Monitor, implement and evaluate policy guidelines, regulations and amendments in the Insurance Act for supervision of the insurance industry;
- Coordinate the implementation of the actuarial policies and procedures, monitor and evaluate their effectiveness in meeting the Authority’s goals and objectives.
- Monitoring the solvency and financial condition of regulated entities by reviewing actuarial reserves and risk-based capital calculations and the statements of actuarial opinion provided by each company’s appointed actuary.
- Coordinate the development of data collection templates and deployment to the ERS.
- Oversee data analysis and preparation of reports on insurance industry performance as required by the Insurance Act;
Operational Responsibilities / Tasks
- Prepare Board and management reports in matters relating to actuarial and financial analysis;
- Oversee data analysis and preparation of reports on financial condition of insurers to determine their ability to meet their financial obligations.
- Oversee data analysis and preparation of reports on actuarial reserving by insurers to determine adequacy of technical provisions and actuarial liabilities.
- Oversee the analysis for approval of insurance products and premium rates applications to ensure that they conform with the requirements of the law, regulations and guidelines.
- Oversee the analysis of data and reports on insurance industry performance as required by the Insurance Act;
- Oversee the analysis of data and reports on financial condition of insurers to determine their ability to meet their financial obligations.
- Oversee the analysis of data and reports on stress testing of insurers to determine their ability to meet their future financial obligations.
- Oversee the preparation of reports to be used in the supervisory colleges especially on capital adequacy ratios.
- Develop and implement changes to insurance laws and regulations concerning proper reserve levels, premium rates, accounting and capital adequacy requirements.
- Oversee the generation of periodic reports on performance, trends analysis and projections for the insurance industry.
- Oversee regular reviews and updates on insurance industry performance indicators and benchmarks.
- Coordinate continuous evaluation of financial returns to ensure they meet acceptable standards and that all the necessary disclosures are made.
- Monitor the process of designing, implementing and evaluating the reporting framework for the insurance industry.
- Participate in on-site inspections on issues related to actuarial.
- Participate in the identification of reforms in areas of amendments or changes in the Insurance Act, regulations and guidelines.
- Oversee the development of the section’s budget;
- Oversee the development of procurement plans for the Directorate;
- Ensure compliance with the section’s standard operating procedures by staff.
- Undertake performance management, training and development, coaching and mentoring and welfare for staff of the section;
- Implement appropriate Technology including SupTech and RegTech.
- Provide leadership and strategic direction to staff in the section.
Persons Specifications
- Master’s degree in Actuarial Science, Actuarial Management, Mathematics, Statistics, Insurance, Finance, Risk Management, Economics, Financial Engineering, or Business Administration;
- Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Financial Engineering;
- Minimum KCSE B or its equivalent;
- Possess at least an Associate Professional qualification in Actuarial or its approved equivalent;
- Be a registered member of a relevant professional body;
- Certificate in Computer Proficiency;
- Management course lasting not less than four (4) weeks;
- Nine (9) years relevant experience; and
- Meets provisions of chapter six of the Constitution.
Competencies and skills
- Strong communication and reporting skills;
- Strong analytical and numerical skills;
- Strong organization and interpersonal skills;
- Mentoring, coaching and leadership skills;
- Conflict management; and
- Ability to work under pressure, prioritize and multi-task.
Manager Supervision (Intermediaries)
Jobs at Insurance Regulatory Authority (IRA)
Job purpose
The position is responsible for coordinating the supervision of insurance intermediaries and service providers on an ongoing basis to ensure that the risks they pose are effectively managed to ensure that the interests of policyholders and insurance beneficiaries are protected.
Job Specifications
The duties and responsibilities will entail:
Managerial / Supervisory Responsibilities
- Coordinate the process of formulation and implementation of minimum requirements in relation to supervision of intermediaries to ensure safety and stability in the insurance industry.
- Formulate effective strategies and programmes for supervision of insurance intermediaries and insurance service providers;
- Co-ordinate off-site supervision, on-site supervision and analysis of various returns from intermediaries and service providers;
- Monitor and enforce penalties, restrictions, directives, inspection/investigation recommendations, offsite surveillance and market conduct recommendations and any other requirement of the Insurance Act in respect to insurance intermediaries and service providers.
- Coordinate the development, implementation and evaluation of policy guidelines, regulations and amendments in the Insurance Act for supervision of the insurance industry;
- Coordinate and monitor implementation of AML/CFT Act by members of insurance industry to ensure effective reporting on AML/CFT issues to the Financial Reporting Centre;
- Manage potential impacts of developments and trends arising out of regional and international supervision practices;
- Manage the development, continuous update and implementation of risk profiling framework for proactive intervention focused on fostering insurance industry stability and consumer protection;
- Develop, execute and control of the section’s work plan, budget and procurement plan;
- Provide leadership and strategic direction to staff in the section in achieving the goals of the Department.
Operational Responsibilities / Tasks
- Conduct ongoing and continuous supervision of insurance intermediaries and service providers;
- Develop and implement regulatory reforms in areas of amendments or changes in the Insurance Act, regulations and guidelines;
- Develop, implement, monitor and evaluate the risk assessment framework for the section.
- Ensure compliance with the section’s standard operating procedures by staff.
- Implement capacity building initiatives for insurance intermediaries;
- Maintain a register and database of registered insurance intermediaries and service providers.
- Review all approval requests by insurance intermediaries and service providers.
- Monitor the registration of intermediaries and insurance service providers and ongoing market conduct supervision of the insurance intermediaries and service providers;
- Implement systems and procedures to monitor intermediaries’ 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.
- Undertake performance management, training and development, coaching and mentoring and welfare for staff of the Department.
Persons Specifications
- Master’s degree in Statistics, Insurance, Finance, Risk Management, Economics, Law, Business Administration, Commerce or its equivalent;
- Bachelor’s degree in Insurance, Economics, Commerce, Business Administration;
- Minimum KCSE B or its equivalent;
- Professional qualifications in Insurance or Accounting (ACII/AIIK/FLMI/CPA);
- Nine (9) years relevant experience;
- Be a registered member of a recognized professional body in Kenya;
- Management course lasting not less than four (4) weeks; and
- Meets provision of chapter six of the Constitution.
Competency and Skills
- Strong communication and reporting skills;
- Strong analytical and numerical skills;
- Strong organization and interpersonal skills;
- Mentoring, coaching and leadership skills;
- Conflict management; and
- Ability to work under pressure, prioritize and multi-task.
Manager Finance
Jobs at Insurance Regulatory Authority (IRA)
Job purpose
The position is responsible for implementing strategies aimed at prudent management of the Authority’s financial resources through planning, financial management and control, analysis and providing reports on financial position in accordance with applicable laws and standards.
Job Specifications
Duties and responsibilities will entail:
Managerial / Supervisory Responsibilities
- Lead in implementation of financial policies, plans and Departmental strategies;
- Champion implementation and management of the Authority’s financial reporting system to cater for departments operations;
- Lead in implementation of government policy directives and circulars;
- Oversee maintenance of financial records in accordance with statutory provisions;
- Coordinate preparation of monthly management accounts and analyse financial discrepancies to ensure correctness of financial information;
- Monitor utilisation of allocated funds, analysis of revenues and outline of variances to ensure revenues and costs are duly captured and reported;
- Manage implementation of approved departmental budget;
- Coordinate implementation of recommendations of external and internal audit reports;
- Manage tax compliance measures and adherence to other statutory obligations of the Authority;
- Oversee preparation of quarterly and annual financial statements in accordance with reporting standards and statutory provisions;
- Coordinate payroll management and processes;
- Coordinate implementation of effective Accounting system and Standard Operating Procedures to safeguard prudent use of financial resources and integrity of financial information;
- Manage departmental risk to ensure risks are effectively monitored and controlled;
- Oversee implementation of departmental performance contracting activities and ensure targets are met;
- Provide leadership in execution of assigned accounting tasks within set deadlines;
- Contribute in preparation and presentation of board papers.
Operational Responsibilities / Tasks
- Review and approve month-end account closing activities such as reconciliations and journal entries;
- Respond to accounting inquiries from management and resolve financial queries as they arise;
- Contribute in review of existing accounting and internal controls procedures and recommend changes;
- Verify and confirm corporate tax assessment and compliance with statutory requirements;
- Verify weekly cash flow forecasts;
- Review and approve payments;
- Facilitate audit activities by providing responses to audit queries and providing relevant supporting evidence;
- Review and Approve performance targets of direct reports;
- Mentor and coach staff members within the department.
Persons Specifications
- Master’s degree in any of the following: Commerce, Accounting, Business Administration, Finance, or their equivalent qualification from a recognized institution;
- Bachelor’s Degree in Commerce, Accounting, Finance;
- CPA (K) or equivalent;
- Minimum KCSE B or its equivalent;
- Member of a relevant professional body recognized in Kenya;
- Nine (9) years relevant working experience;
- Management Course lasting not less four (4) weeks; and
- Meets the provision of chapter six of the constitution.
Competencies and skills
- Strong communication and presentation skills;
- Good mentorship and coaching skills;
- Good analytical skills;
- Problem solving;
- Professionalism;
- Strong negotiation skills;
- Leadership and supervision skills.
Manager Human Resource Management
Jobs at Insurance Regulatory Authority (IRA)
Job purpose
The position is responsible for planning, advising, directing human resources programs such as staff training and development, recruitment and selection, onboarding, reward management, performance management and employee health and safety.
Job Specifications
Duties and responsibilities will entail:
Managerial / Supervisory Responsibilities
- Coordinate and manage strategies, policies and procedures on Human Resource Management and General Administration and provide leadership in their implementation for effective and efficient service delivery;
- Guide line managers and staff in the implementation of Human Resource strategies, policies and procedures;
- Provide secretariat services to the Human Resource Management Advisory Committee;
- Coordinate the preparation and absorption of Human Resource Management budgets;
- Coordinate recruitment, selection, placement, succession planning, and career progression policy and procedure guidelines;
- Manage and coordinate training and development activities through the identification of staff training needs assessment and recommend relevant courses to develop staff capacity in conjunction with the Head of Departments and/or other external training bodies as required to facilitate capacity building;
- Manage and coordinate performance and career management programmes to improve individual and the organization’s performance;
- Coordinate the development and implementation of reward management and remuneration policies and strategies that attract, retain, and motivate employees to higher productivity;
- Coordinate and supervise the development, management, and maintenance of contracts, staff files, and other employee records;
- Approve staff leave and office attendance management;
- Coordinate the preparation of accurate and timely HR monthly and annual reporting;
- Ensure accurate and timely performance of payroll functions by supervising the input of payroll data, maintaining payroll records in compliance with legal requirements and policies and procedures;
- Manage and coordinate the implementation of HRM policies and guidelines and programs such as employee welfare, wellness, health and safety, staff incentive programmes, and resolving industrial relations and discipline matters;
- Coordinate staff and work performance in the Human Resource management to ensure efficient and effective service delivery;
- Ex officio to the Pensions Scheme;
- Authorize payroll and staff-related expenditures to ensure timely payments of salaries and other benefits to employees;
- Coordinate leave processing to create work-life balance for all employees through a scheduled time roster;
- Process pensions for retiring employees based on operating legislation to ensure continuity of lifestyle after retirement;
- Seek authority to recruit and select staff to match workload requirements with human capital;
- Perform orientation of staff, interns, and students on attachment to familiarize them with the day-to-day operations of the school;
- Process staff training requests to facilitate the acquisition of the right skills for the right job, build capacity, and embrace the changing trends in technology;
- Procure medical benefits and insurance to ensure the well-being of employees for continuity in productivity through good health; and
- Execute compliance with statutory deductions in accordance with the laid down labour laws to avoid penalties.
Operational Responsibilities / Tasks
- Undertake staff recruitment plans that ensure availability of requisite numbers and competencies to enable the organization to achieve its organizational objectives;
- Undertake job analysis and advise on the review of job descriptions;
- Monitor formulation and maintenance of service contracts;
- Monitor human resources management budget;
- Resolve staff grievances and disciplinary matters and maintain harmonious labour relations;
- Manage payroll and staff-related expenditures to ensure timely payments of salaries and other benefits to employees;
- Monitor leave to create work-life balance for all employees through a scheduled time roster;
- Process pensions for retiring employees based on operating legislation to ensure continuity of lifestyle after retirement;
- Undertake recruitment and selection of staff to match workload requirements with human capital;
- Undertake orientation of staff, interns, and students on attachment to familiarize them with the day-to-day operations of the school;
- Process staff training requests to facilitate the acquisition of the right skills for the right job, build capacity, and embrace the changing trends in technology;
- Procure medical benefits and insurance to ensure the well-being of employees for continuity in productivity through good health; and
- Monitor compliance with statutory deductions in accordance with the laid down labour laws to avoid penalties.
Persons Specifications
- Master’s degree in Human Resource Management, Business Administration, or its equivalent;
- Bachelor’s degree in Human Resources Management or a business-related field/social sciences;
- Higher Diploma in Human Resources Management OR Certified Human Resource Management Professional (CHRMPK);
- Minimum KCSE B or its equivalent;
- Membership to the Institute of Human Resources Management with a current practicing certificate;
- At least nine (9) years of relevant work experience;
- Management course lasting not less than 4 weeks; and
- Meets the requirements of chapter six of the Constitution.
Competencies and skills
- Strong communication and presentation skills;
- Good mentorship and coaching skills;
- Good analytical skills;
- Problem solving;
- Professionalism;
- Strong negotiation skills;
- Leadership and supervision skills.
Assistant Manager Supervision
Jobs at Insurance Regulatory Authority (IRA)
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 the 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;
- 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 policyholders 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 officers, senior managers, 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;
- Maintain accurate information on all investigations, inspections, and enforcement actions;
- 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;
- Evaluate and monitor the implementation of corrective plans;
- Ensure compliance with the section’s standard operating procedures by staff;
- Undertake performance management, training and development, coaching and mentoring, and welfare for staff of the section;
- Oversee the development of recovery and resolution plans for insurers;
- Monitor and report on the performance of statutory managers.
Person Specifications
- 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 than four (4) weeks;
- Professional qualifications in Insurance or Accounting (ACII/AIIK/FLMI/CPA);
- Member of a relevant professional body;
- Meets the 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.
Assistant Manager Supply Chain Management
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
The position is responsible for the operations management of the Supply Chain Management function. Advising the user department on the best procurement practices while ensuring continuous availability of goods, works, and services to ensure seamless operations.
Job Specifications
Duties and responsibilities will entail:
Managerial / Supervisory Responsibilities
- Develop Supply Chain management processes, procedures, and legislation for effective and efficient operations;
- Develop draft contracts in conformance with and compliance to tender documents to ensure compliance with legislation and protection of the Authority’s interests;
- Ensure preparation of professional opinions to the Accounting Officer in compliance with PPADA and the Regulations;
- Develop, implement, and enforce regulations and policies on supply chain management that align with the Corporate Strategy;
- Develop, review, and maintain supplier selection, evaluation methods, and performance strategies to improve their effectiveness and efficiency;
- Support users in conducting market research, advise on budget estimates, and guide in the preparation of appropriate tender documents;
- Implement all supply chain activities for goods, works, and services in the Authority in line with the Public Procurement & Asset Disposal Act and Regulations;
- Review the preparation of statutory reports to PPRA and other reports for goods, works, and services, and recommend for submission;
- Develop supplier relations for effective performance contract and delivery of goods, works, and services;
- Compile the Divisional Annual Procurement and Disposal Plan in liaison with all heads of departments;
- Develop risk management strategies related to procurement and contract management by ensuring appropriate controls are instituted and implemented to mitigate and eliminate the risks;
- Develop and implement the Department’s Quality Management System, risk management, and knowledge management to ensure compliance;
- Coordinate and review the posting of tenders and information on relevant IRA websites and Government portals.
Operational Responsibilities / Tasks
- Participate and offer secretariat support for procurement committees in conformance with the Act and Regulations;
- Compile supply chain management data;
- Implement and enforce regulations and policies on supply chain management;
- Prepare and analyze supply chain estimates of expenditure;
- Verify and participate in the disposal of assets;
- Coordinate and analyze material receipts from suppliers and issues to contractors; carry out internal monitoring and evaluation of goods and services;
- Lead and participate in stock-taking exercises;
- Prepare and analyze stock reconciliations;
- Ensure suppliers are paid promptly by processing and passing the payment documents to finance within the specified period;
- Supervise stores operations;
- Plan, coordinate, and execute timely and quality supply chain operations;
- Prepare appropriate tender documents in liaison with the user departments;
- Participate in the evaluation of tenders, proposals, and quotations and offer secretarial services;
- Participate in the inspection and acceptance of goods, works, and services and prepare inspection reports;
- Prepare annual and revised procurement and disposal plans;
- Maintain proper procurement records to ensure an adequate audit trail;
- Conduct periodic market surveys for goods, works, or services;
- Keep track of tenders in progress and generate status reports;
- Responsible for the opening of tenders, proposals, and quotations;
- Prepare tender advertisements for the local press and post them on the IRA and State Portal websites;
- Assist in managing contracts with user departments and report any variations in contract terms and conditions.
Person Specifications
- Master’s degree in Procurement and Supplies Management, Logistics and Supply Chain Management, Economics, Business Administration, Commerce, Entrepreneurship, or a relevant field from a recognized institution;
- Bachelor’s degree in Supply Chain Management and Logistics, Commerce/Business Administration (Supplies Management option), or a relevant qualification from a recognized institution;
- Six (6) years of relevant experience;
- Membership to the Kenya Institute of Supplies Management (MKISM) or Chartered Institute of Purchasing and Supplies (CIPS) or equivalent;
- Management Course lasting not less than four (4) weeks;
- Meets the provisions 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.
Assistant Manager Administration
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
The position is responsible for the coordination of the development and implementation of administration policies and procedures in line with the Authority’s Corporate strategy to ensure effective and efficient utilization of all Authority’s resources and assets.
Job Specifications
Duties and responsibilities will entail:
Managerial / Supervisory Responsibilities
- Prepare and implement administrative policies, strategies, and procedures for effective service delivery;
- Coordinate the efficient management of the Authority’s office environment, facilities, and assets;
- Coordinate the functions of the Administration department, including security, drivers, and ensure seamless delivery of services;
- Ensure implementation of occupational safety and health requirements within the Authority;
- Prepare and implement the Department’s annual budgets, annual work plans, procurement, and disposal plans in compliance with applicable laws and regulations;
- Coordinate the implementation of Quality Management System, risk management, and knowledge management in the department;
- Provide mentorship and coaching to staff within the Department;
- Maintain Authority’s assets and property;
- Manage service contracts and service level agreements for outsourced services;
- Initiate and implement renewals of general insurance covers for vehicles, buildings, and equipment.
Operational Responsibilities / Tasks
- Coordinate and ensure implementation of relevant statutory regulations and standards for compliance;
- Review and coordinate the Department’s performance to ensure activities align with the overall strategy of the organization;
- Supervise management of the Authority’s operations such as courier services, transport, records, and security to ensure seamless delivery of services;
- Prepare monthly, quarterly, and annual reports for the department;
- Prepare and monitor the implementation of the departmental budget;
- Establish and manage the Authority’s records management office/registries and ensure safe custody of all records;
- Advise on compliance with internal controls and procedures;
- Coordinate the proper management of records, disposal, and destruction procedures as provided by government policies and procedures;
- Coordinate transport and administration information system, approval of transport requests, and allocation of vehicles;
- Prepare and submit quarterly Performance Contracting reports for the department;
- Coordinate Administration support and logistics management to ensure smooth operations for the organization;
- Coordinate the activities of the Authority’s registries to ensure safe custody of all records;
- Participate in the preparation and implementation of the departmental budget;
- Set performance targets and undertake performance appraisal for direct reports;
- Prepare monthly, quarterly, and annual reports for the department;
- Maintain an up-to-date Authority’s assets register;
- Supervise records management staff, filing systems, facilities, and equipment;
- Coordinate the provision of outsourced services including mail delivery systems, office security, cleaning, catering, and front office reception services;
- Manage office inventory, repairs, and maintenance of office equipment and facilities;
- Identify assets for disposal;
- Prepare the Authority’s assets register;
- Coordinate fleet management and inspection.
Person Specification
- Master’s degree in Social Science, Business Administration, Commerce, Strategic Management, or any other recognized equivalent qualification from a recognized University/Institution;
- Bachelor’s degree in Social Science, Business Administration, Commerce, Strategic Management, or any other recognized equivalent qualification from a recognized University/Institution;
- Six (6) years of relevant experience;
- Management Course lasting not less than four (4) weeks;
- Meets provisions 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.
Assistant Manager Records
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
The position is responsible for developing, planning, and implementing effective records management and ensuring the appropriate management of the Authority’s records from document creation, updating file index, ensuring the security of information/files in the registry, updating and maintaining up-to-date file movement records, through to their disposal.
Job Specifications
Duties and responsibilities will entail:
Managerial / Supervisory Responsibilities
- Prepare and implement records management policies, strategies, and procedures for effective service delivery;
- Oversee the management of electronic and/or paper-based information;
- Design and develop filing systems that will ensure appropriate access to information while ensuring compliance with relevant legislation and regulations;
- Ensure that financial, legal, or administrative requirements and regulations are complied with;
- Ensure that data is protected, classifying and indexing reports, destroying or archiving finished data/records;
- Ensure that records are easily accessible when needed;
- Supervise the Authority’s Records Management Office, filing systems, facilities, equipment, and tools;
- Prepare and implement the Section’s annual budgets, annual work plans, procurement, and disposal plan in compliance with applicable laws and regulations;
- Implement Quality Management System, risk management, and knowledge management in the Section;
- Provide mentorship and coaching to staff within the Records Management Section.
Operational Responsibilities / Tasks
- Coordinate the implementation of developed policies, processes, and procedures within the department;
- Coordinate and monitor the performance of the Records Management section to ensure that activities are in line with the overall strategy of the organization;
- Coordinate the performance appraisal of staff within the Records Management Section to ensure the attainment of the Authority’s deliverables;
- Monitor budget implementation within the department and advise on expenditure;
- Coordinate the activities of the Authority’s registries and ensure the safe custody of all records;
- Participate in the preparation and implementation of the departmental budget;
- Set performance targets and undertake performance appraisal for direct reports;
- Prepare monthly, quarterly, and annual reports for the department;
- Ensure proper management of records, disposal, and destruction procedures as provided by government policies and procedures;
- Coordinate the provision of outsourced services under records management, such as mail delivery systems;
- Manage the Authority’s correspondences, including receiving, identifying, classifying, indexing, arranging, distributing, and storing records;
- Guide all staff in the management of their records and use of the Authority’s records management system;
- Ensure the registry is cleaned and fumigated regularly to eliminate dust and pests that can destroy files and records;
- Provide timely responses to internal and/or external information inquiries;
- Manage the delivery and distribution of mail to all stakeholders;
- Ensure proper management of archived and closed files, disposal, and destruction procedures as provided by government policy and procedures;
- Maintain, review, and document records systems;
- Maintain records safety and access control measures;
- Supervise the digitization of the Authority’s records;
- Maintain file records using the file index and file movement register.
Person Specification
- Master’s degree in Information Science Management, Records Management, or any of the Social Sciences plus a Certificate in Records Management/Information Management or other relevant and equivalent qualifications from a recognized Institution;
- Bachelor’s degree in any of the following disciplines: Information Science Management, Records Management, or any of the Social Sciences plus a Certificate in Records Management/Information Management or other relevant and equivalent qualifications from a recognized Institution;
- At least six (6) years of relevant work experience;
- Management Course lasting not less than four (4) weeks;
- Meet the requirements of Chapter 6 of the Constitution.
Competencies and Skills
- Strong negotiation skills;
- Strong communication and presentation skills;
- Good mentorship and coaching skills;
- Leadership and supervision skills.
Actuarial Officer
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
The position is responsible for reviewing data collected for accuracy and completeness, analyzing data, and preparing reports.
Job Specifications
Duties and responsibilities will entail:
- Prepare reports on the analysis of products, premium rates, financial condition reports, and technical reserves for insurers.
- Review the data analysis and insights on technical reserves reports, financial condition reports, and actuarial valuation reports for completeness and accuracy of information.
- Prepare draft reports on capital adequacy ratios to ensure that the reports are accurate, complete, and prepared in accordance with the provisions of the insurance act.
- Develop data collection templates, data analysis, and preparation of reports on insurance industry performance as required by the Insurance Act.
- Determine the solvency and financial condition of regulated entities, including reviewing actuarial reserves and risk-based capital calculations, and the statements of actuarial opinion provided by each company’s appointed actuary.
- Prepare reports on the analysis of financial stability of insurers and implementation of macroprudential policy, including carrying out regular macro stress tests and preparing documents for public communication on the tests.
- Conduct data validation of quarterly and annual insurance statistics to check on 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.
Person Specifications
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or Financial Engineering.
- Meets the provisions of Chapter Six of the Constitution.
Competencies and Skills
- Strong communication and presentation skills
- Good analytical skills
- Problem-solving
- Professionalism
Financial Analyst
Jobs at Insurance Regulatory Authority (IRA)
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
Office Administrator – 2 Posts
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
The Office Administrators are responsible for inquiries, providing secretarial services, and attending to clients in the Office of Director Market Conduct and Director Corporate Services.
Job Specifications
The duties and responsibilities of the officer will entail:
- Attending to visitors/clients.
- Handling telephone calls, customer inquiries, and complaints/compliments.
- Ensuring security and confidentiality of office records, equipment, and documents.
- Maintaining office diary.
- Record-keeping for correspondences and file movement.
- Managing office protocol and etiquette.
- Coordinating the general administration of the respective office.
- Coordinating the schedule of meetings and appointments.
- Coordinating travel arrangements and travel itineraries.
- Preparing responses to routine correspondence.
- Monitoring procedures for record-keeping for correspondences.
Person Specifications
- Bachelor’s degree in business administration, secretarial studies, or a business-related field; OR
- Higher Diploma in Secretarial Studies or its equivalent from the Kenya National Examinations Council (KNEC) or any other recognized institution with three (3) years of experience; OR
- Diploma in Secretarial Studies from the Kenya National Examinations Council (KNEC) or any other recognized institution with four (4) years of experience;
- Meets the provisions of Chapter Six of the Constitution.
Competencies and Skills
- Strong communication and presentation skills.
- Good analytical skills.
- Problem-solving.
- Professionalism.
Research & Innovation Assistant
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
The job holder will support the Research and Innovation Department in implementing programs and projects, as well as collecting, analyzing data, and preparing reports.
Job Specifications
The duties and responsibilities will entail:
- Participating in the formulation and synthesis of proposals, ideas, and issues on research and innovation in the insurance industry.
- Assisting in the implementation of research and innovation activities.
- Coordinating research and innovation activities to promote insurance market development.
- Assisting in undertaking surveys and analyzing data and information on insurance market developments and initiatives.
- Preparing reports on various research and innovation activities.
- Carrying out analytical work and offering advisory services to other Directorates on research, innovations, and related issues.
- Conducting desktop research using a range of methods and sources of data.
- Data entry and analysis.
- Assisting in writing research reports.
- Supporting logistics for the department.
Person Specifications
- Higher Diploma in Business Studies, Insurance, or Statistics, with three (3) years of relevant experience; OR
- Diploma in Business Studies, Insurance, or Statistics, with four (4) years of relevant experience;
- Meets the provisions of Chapter Six of the Constitution.
Competencies and Skills
- Strong communication and presentation skills.
- Good analytical skills.
- Problem-solving.
- Professionalism.
Security Assistant
Jobs at Insurance Regulatory Authority (IRA)
Job Purpose
This position is responsible for the security of the Authority’s staff, assets, and offices, as well as the implementation of appropriate and effective security management policies and procedures.
Job Specifications
The duties and responsibilities will entail:
- Developing and ensuring implementation of security strategies, policies, and procedures.
- Providing and maintaining a protected and secure environment for all persons and assets within the Authority.
- Coordinating security activities and the provision of outsourced services under security management.
- Participating in the coordination of emergency procedures and contingency planning.
- Identifying potential security threats.
- Coordinating the investigation of internal security breaches.
- Gathering security intelligence.
- Maintaining records of crimes and incidents.
- Overseeing security surveys and inspections.
- Advising management on security-related matters affecting operations.
Person Specifications
For appointment to this position, a candidate must have:
- Higher Diploma in Security Studies or its equivalent qualification from a recognized institution with three (3) years of relevant experience; OR Diploma in Security Studies or its equivalent qualification from a recognized institution with four (4) years of relevant experience.
- Undergone three (3) months Security Training from the Administration Police Training College or any other recognized institution.
- Be physically and mentally fit.
- Meet the requirements of Chapter 6 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.
Only shortlisted candidates will be contacted for interviews.
For More Details Visit > Insurance Regulatory Authority Careers
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