Pension and Insurance Authority
PENSIONS AND INSURANCE AUTHORITY
JOB ADVERTISEMENT
The Pensions and Insurance Authority is the Regulatory and Supervisory Authority for the Pensions and Insurance industry in Zambia as provided for in the Pensions Scheme Regulation Act No. 28 of 1996 (as amended by Act No. 27 of 2005) and the Insurance Act No. 27 of 1997 (as amended by Act No. 26 of 2005). The Authority supervises, among others; insurance companies, reinsurance companies, insurance intermediaries, pension schemes, fund managers and fund administrators.
The Authority hereby invites applications from suitably qualified and experienced candidate to fill the following position.
INSPECTOR, PRUDENTIAL SUPERVISION – INSURANCE – One (1) Position
Overall Responsibilities: –
Reporting to the Manager – Prudential Supervision – Insurance, the Inspector will be responsible for conducting risk assessments and inspections of regulated Long-Term and General Insurance and related entities in order to enhance sound financial and business practices and compliance to the Insurance Act.
Specific Duties: –
- Monitor all routine and non-routine compliance deadlines affecting insurers or reinsurers and advises the Supervisor of violations accordingly.
- Prepare risk analysis reports for assigned regulated entities.
- Conduct prudential routine and non-routine inspections of regulated companies and entities, collect data and inspect financial records and other data/information of the business to determine risks and their continued viability as well as ability to service clients adequately.
- Conduct AML/CFT reviews and inspections on re-insurers and insurers.
- Draft inspection reports, which highlight whether or not inspected entities are adhering to legal provisions, regulations, set standards, and make recommendations to the Manager-Prudential Supervision for action where necessary.
- Processes received license applications by ensuring that information and documentation are complete and that applicants meet the minimum license requirement set by the PIA in accordance with the provisions of the Insurance Act No. 27 of 1997 before forwarding them to the Supervisor with recommendations.
- Maintain and updates the Authority’s supervisory management information centre (i.e. catalogue and data base of insurer and re-insurer profiles; governance documents, applications, financial returns, etc)
- Compile and share information with other departments or units and external stakeholders as requested guided by the Supervisor.
- Contribute to the revision and development of supervisory standards.
Requirements: –
- Full Grade 12 Certificate with credit or better in Mathematics and pass in English.
- Degree in either Accounting/Business Administration or full professional accountancy qualification such as ACCA/CIMA/ZICA.
- A Master’s Degree will be an added advantage.
- Minimum three (3)years’ relevant experience in an audit environment or financial services sector preferably with two (2) years in a related industry.
Applicants meeting the above qualifications should submit the application letter, copies of certificates and Curriculum Vitae to the address below by 28th July, 2020.
Human Resources and Administration Manager
Pension and Insurance Authority
Stand No. 4618
Lubwa Road, Rhodespark
P/Bag 30x, Ridgeway
LUSAKA
Only hardcopies submitted to the address above will be accepted and only shortlisted candidates will be contacted for interviews.