Job Description

Reporting to Manager, Insurance and Pension,the job holder supports the effective supervision of insurance and pension entities by conducting analytical reviews, inspections, and compliance monitoring

Job Responsibilities

• Conduct regular on-site inspections of insurance and pension schemes to evaluate their compliance with regulatory requirements and operational practices.

• Conduct off-site analysis of insurance and pension companies, intermediaries and service providers through the analysis of financial statements, reports, and records to assess the financial health of insurance entities and identify areas of concern.

• Perform risk assessments to identify potential vulnerabilities in insurance companies' operations and recommend corrective actions as needed.

• Verify compliance with applicable laws and regulations, including solvency, consumer protection, and reporting requirements.

• Review policy documents, claims files, and underwriting practices to ensure transparency and fairness in insurance products.

• Prepare detailed reports on inspection findings, outlining any compliance issues, risks identified, and recommended actions for improvement.

• Conduct follow-up assessments to ensure that the inspected companies/ schemes have implemented corrective actions.

• Communicate findings and recommendations to insurance company/ pension scheme management and regulatory authorities, facilitating discussions on compliance matters.

• Collect and analyze data on market trends, claims activity, and regulatory changes to inform inspection practices and reporting.

• Provide training and guidance to insurance companies and pension schemes on regulatory compliance and best practices in risk management.

• Collaborate with other regulatory inspectors and analysts to share information and improve oversight practices.

Job Requirements

• Master’s degree in actuarial science, Insurance, Business Administration, IT or a related field.

• Professional certification in ACCA, CII, CPA, CISA, Actuarial Certification or equivalent should be an added value.

• At least three (3) years of experience in insurance/pension operations, auditing, accounting, or financial analysis.